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- W1979838072 abstract "This paper aims to assess the benefits gained and the challenges experienced by companies listed on the UAEstock market following the introduction of IFRS. Since the announcement by the European Union to adopt IFRSby listed companies, many countries have followed suit, hoping to gain competitive edge in attracting theForeign Direct Investment to boost their economic growth. This study focuses on examining the advantages andchallenges faced by companies listed on the UAE stock market listed companies as a result of adopting IFRS.The framework used in this analysis will be based on the identification and assessment of key driversinfluencing companies listed on the UAE stock market. To what extent are these factors internal or external tothe financial sector, but which have a direct bearing on the overall economic environment? The views andperceptions of the Chief Financial Officers’ (CFOs) for Dubai and Abu Dhabi listed companies, financialanalysts of the financial statements in the two listed companies and auditors will be analysed.Methodology: Questionnaires were used as the main method of data collection. Questionnaire were distributedin both Dubai and Abu Dhabi markets, The data obtained through the questionnaires have been imported intosoftware for analysis, namely, the Statistical Package for the Social Sciences (SPSS).Findings: The results clearly show that the benefits of adopting IFRSs in UAE inevitably far outweigh thedifficulties and costs. The findings also reveal that adoption of IFRSs in UAE stock markets has improved theoverall standard of the quality of financial reporting, which help in attracting investors to invest in the UAEstock markets. However, many respondents were still apprehensive that effective and professional financialreporting decisions will be affected by the level of education of accounting users, the methods provided by someIFRSs, and the inadequate enforcement mechanisms." @default.
- W1979838072 created "2016-06-24" @default.
- W1979838072 creator A5030983838 @default.
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- W1979838072 date "2013-09-22" @default.
- W1979838072 modified "2023-10-14" @default.
- W1979838072 title "The Advantages and the Challenges of Adopting IFRS into UAE Stock Market" @default.
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- W1979838072 doi "https://doi.org/10.5539/ijbm.v8n19p1" @default.
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