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Research Article Open access CC BY 4.0

The Impact of (IFRS 9) Adoption on Financial Performance: The Modifying Role of the Internal Audit Board

Yosra Mnif Sellami, Maha Mohsen Ali

Asian Journal of Economics, Business and Accounting · pp. 12–30 · Published 24 Aug 2024

10.9734/ajeba/2024/v24i91474

Abstract

The study aims to identify the impact of applying the international standard (IFRS 9) on the financial performance of Iraqi commercial banks. As well as measuring the impact of applying the international standard (IFRS 9) and the internal audit board on the performance of Iraqi commercial banks. To verify the research hypotheses, a sample of 165 observations of Iraqi banks was selected, and their financial statements for the period (2012-2022) were used. The statistical results obtained showed that there is an impact of applying the international standard (IFRS 9) on the financial performance of Iraqi commercial banks, and therefore commitment to applying the international standard (IFRS 9) will lead to improving performance in Iraqi commercial banks. The research results also showed that there is a statistically significant relationship between the size of the internal audit board as one of the corporate governance mechanisms that adjusts the relationship between the application of the international standard (IFRS 9) and the financial performance of Iraqi commercial banks. It also showed that there is no statistically significant relationship. The independence of the internal audit board as one of the corporate governance mechanisms adjusts the relationship between the international standard (IFRS 9) and the financial performance of Iraqi commercial banks. Finally, there is a statistically significant relationship between the percentage of women’s representation in the Internal Audit Board as one of the corporate governance mechanisms that moderates the relationship between the application of the international standard (IFRS 9) and the financial performance of Iraqi commercial banks, The study recommends Iraqi banks must pay attention to applying the (IFRS9) standard for financial instruments, as it provides many benefits in improving financial performance. and the need to pay attention to the effective application of corporate governance mechanisms, and the imposition of penalties by the Iraq Stock Exchange on listed institutions and banks that do not implement effectively or partially. and Issuing laws that stipulate the application of corporate governance principles, Future research could be Integration between the business model and international financial reporting standards and their impact on the value relevance of accounting information.

IFRS9 financial performance corporate governance

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