Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)


Impact of IFRS9 Application on the Quality of Accounting Information Contained in Banks' Financial Statements

Author(s): Rasha Adnan Ahmed, Marwa fadhil Khalaf & Mohammed Abdulameer Jawad

The study aims to identify the effect of the transition to the application of IFRS 9 in the presentation in the financial statements, This study was conducted on the National Bank of Iraq, relying on private data (financial position statement and income statement) in the year 2018, and the study concluded that international financial reporting standards play an important role in improving and achieving the effectiveness and quality of accounting information by providing high-quality financial statements that are characterized relevance and reliability in presentation and disclosure, And that, when applying the IFRS9 standard, the purpose of disclosure in the comprehensive income is to include a total of all operational and financial events that affect the interests of the owners in the company and may be reported on comprehensive income amount annually because it provides an overview of revenue and expenses, The other comprehensive income it includes net income and unrealized revenue from hedging instruments or financial derivatives and financial gains or losses in foreign currency transactions, The study recommended that the (IFRS9) should be applied as an alternative to the International Accounting Standard No.(IAS 39) because it provides measurement, classification, and disclosure appropriate to financial assets, and the financial statements prepared by banks should be in accordance with the (IFRS9) standard, of high quality information, through characteristics such as relevance, reliability, and constancy.

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