The Perceived Impact of the Adaption of IFRS7 and IFRS9 on the Transparency and Comparability of Egyptian Banks Financial Reporting | ||
| Sinai International Scientific Journal | ||
| Volume 1, Issue 3, January 2025, Pages 39-46 PDF (343.82 K) | ||
| Document Type: Original Article | ||
| DOI: 10.21608/sisj.2025.407741 | ||
| Author | ||
| Badria Ahmed Saied* | ||
| Accounting Department, Faculty of business administration Sinai University- Arish Branch, Arish, Egypt | ||
| Abstract | ||
| Heavy transforming of the financial view in Egypt with the adoption of International Financial Reporting Standards (IFRS) 7 and IFRS 9 has occurred. These standards aim for greater transparency and comparability in financial reporting among the Egyptian banks through a standard disclosure and better measuring of financial instruments. The study has been directed towards evaluating the already perceived impact of adopting IFRS 7 and IFRS 9 on the transparency and comparability of financial statements among Egyptian banks. To achieve this, the study employed multiple regression analysis through survey data acquired from 120 banking professionals to study the relationship between compliance levels, implementation challenges and quality of financial report generation. The results strongly support the study’s hypotheses. Survey findings reveal that 78% of respondents believe IFRS 7 significantly improves transparency, while 65% agree that IFRS 9 enhances comparability across banks. Multiple regression analysis confirms that compliance with IFRS 7 and IFRS 9 positively impacts transparency (β = 0.45, p < 0.05) and comparability (β = 0.30, p < 0.05). However, 42% of participants identified implementation challenges, such as high compliance costs, which negatively impact the standards’ effectiveness (β = -0.20, p < 0.05). Cronbach’s Alpha demonstrated good reliability for survey scales, reinforcing the validity of the findings. The study concludes that while IFRS adoption brings significant benefits to financial reporting in Egyptian banks, addressing implementation barriers is essential to fully realize these standards' potential. Recommendations include enhancing staff training and providing more support for implementation to improve financial reporting practices Copyright © 20xx by the authors. This article is an open access article distributed under the terms and conditions Creative Commons Attribution-Share Alike 4.0 International Public License (CC BY-SA 4.0) | ||
| Keywords | ||
| Ifrs7; Ifrs9; Transparency; Comparability; Egyptian Banks | ||
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