Accountants' Perceptions on the Adoption of International Financial Reporting Standards in Yemen

Authors

  • Mujeeb Saif Mohsen Al-Absy Universiti Utara Malaysia
  • Ku Nor Izah Ku Ismail Universiti Utara Malaysia
  • Shehabaddin Abdullah A. Al-Dubai Universiti Utara Malaysia http://orcid.org/0000-0001-6415-7857

Abstract

Developments in the global capital market have made the adoption of International Financial Reporting Standard (IFRSs) more significant than ever before. The purpose of this study is to examine the accountants' perception of IFRSs adoption in Yemen. We also seek the accountants' view on whether Yemen should adopt the IFRSs or not, and on the expected time taken to adopt the accounting standards. We also examine the difference in opinion between academicians and practitioners regarding the adoption of IFRSs. In this regard, this study carries out a survey of 48 Yemeni accounting postgraduate students in Malaysian public universities. We find that a majority of the respondents acknowledge the benefits of adopting IFRSs in Yemeni companies. Moreover, a majority of the respondents (82.9%) agree that Yemeni companies should adopt IFRSs. About 58.6% of respondents expect the period of IFRSs adoption in Yemen to be within three to 10 years, while 41.5% expect it to be more than 10 years. The results of this study may help policy-makers and the Yemeni Association of Certified Public Accountants (YACPA) make more precise decisions regarding IFRSs adoption in Yemen.   

Keywords: IFRSs, accounting standard convergence, Yemen

JEL Classifications: M4, M48

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Author Biography

Shehabaddin Abdullah A. Al-Dubai, Universiti Utara Malaysia

Dr. Shehabaddin Al-Dubai is a visiting senior lecturer at Univesiti Utara Malaysia (UUM), Malaysia. He is a certified management accountant (CMA) from Australia. Majoring in accounting, he received his Ph.D. and MBA, excellent with honor from the Universiti Utara Malaysia (UUM) and his BBA in financial management, excellent with honor from Arab Academy for Science Technology & Maritime Transport, Egypt. With almost 5 years of professional experience, Dr. Shehabaddin served as finance manager assistant for a renowned family conglomerate in Republic of Yemen. His primary areas of interests are corporate governance, family business, firm performance. He has participated in numerous conferences an written number of articles on the topic of family business and firm performance for numerous international journals.

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Published

2016-10-21

How to Cite

Al-Absy, M. S. M., Ku Ismail, K. N. I., & Al-Dubai, S. A. A. (2016). Accountants’ Perceptions on the Adoption of International Financial Reporting Standards in Yemen. International Journal of Economics and Financial Issues, 6(4), 1911–1917. Retrieved from https://econjournals.com/index.php/ijefi/article/view/2755

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