Author(s): Rand Sabah Hussein
Over the last few years, most countries in the world have revolutionized their accounting practices especially. Such revolutions encompass the adaptation or adoption of local accounting practices and harmonizing it with that of the International Financial Reporting Standards (IFRS) – formerly International Accounting Standards (IAS). This research aims to analyze how Iraq adopted the International Financial Reporting Standards. This research examines the influence of the International Financial Reporting Standards (IFRS) adopted in Iraqi domestic economic units. It is aimed at investigating how and whether the Interim Financial Reports (INFR) in Iraqi domestic economic units’ changes following IFRS implementation. A survey questionnaire was used to conduct to achieve the goal. The research results show that Interim Financial Reports (INFR) in Iraqi domestic economic units changes also shows that the level of disclosure provided in the Interim Financial Statements (INFS) increases after adopting IFRS. The main recommendation for this research is to increase training strength in all directions related to International Financial Reporting Standards (IFRS) practices to get usefulness of all possible opportunities may appear.