The Effects of Adopting the International Financial Standards on the quality Accounting profits the Iraqi Banking Sector

Abstract

Iraq has had a great experience in the transition towards the adoption of international finance and since 2016 in an important and vital sector, the banking sector, and the efforts of the Central Bank of Iraq, the Federal Financial Supervision Bureau and professional bodies such as the Profession Council and the Iraqi Accountants and Auditors Association were adopted voluntarily in 2015 and mandatorily for the year 2016 and the following years after the needs of the Iraqi environment, especially in the banking sector, were absorbed to international standards while giving sufficient time to study international standards in all respects, The process of transition to the application of international accounting standards has undergone logical developments in the Iraqi environment, represented by the gradual development of adoption in the automated stage, then adoption at the level of the banking sector, and the second stage represents the adoption of other sectors such as the industrial sector, the oil sector and others. The research aims to analyze the international financial reports of companies in general belonging to the banking sector in particular and compare the quality of profits in the period before the adoption of international financial reporting standards and the period after the adoption of international financial reporting standards The importance of the research comes from the fact that the subject of international financial reporting standards and the quality of profits is one of the important topics that occupied the accounting thought and the controversy has been raised in the recent period about the quality of profits and the transparency of financial statements and their comparability, especially in light of the globalization of capital markets and the need to attract new investors