Business, Management and Accounting
7 years ago

Accounting Standards Overhaul Needed to Boost Sudan's Global Competitiveness

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The impediments to the application of International Financial Reporting Standards from the point of view of academics and professionals in the Sudan
Alfateh Alamin Abd alrahim Elfaki, Mahjoub Al Tayeb Mohamed Al Hassan

Paper Summary

The article explores the challenges of implementing International Financial Reporting Standards in Sudan. The researchers used a mix of inductive and deductive approaches, along with questionnaires to gather data. They found that factors like company size, capital, culture, funding, and expertise impact the adoption of international standards. Failure to meet external requirements, such as committing to standards for joining international accounting bodies, also hinders implementation. The study aims to identify obstacles and suggest ways to improve the application of these standards in Sudan.

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