International Effort to Adoption International Financial Reporting Standards for the Public Sector between the Shortcoming of Application and the Inevitability of Development

Abstract

Academic researches discussed the determinants of improving the public sector performance, one of these determinants is adopting international financial reporting standards (IFRS), where the main objective of this research is to identify the most important international efforts exerted for the adopting of international standards for financial reporting for the public sector, in light of the successive developments in accounting standards and the Competitive Pressures of increasing competition between companies in order to attract investors. Accordingly, the objective The analysis views of some researchers and scientific organizations that dealt with the nature of international financial reporting standards, and the motives affecting their is adopting, in addition to knowing the factors affecting the decision to implement, leading to the position of the Western and Arab countries towards the issuance and is adopting of these standards were analyzed. These results of the study concluded that the adopting international financial reporting standards will attract more foreign investments to the treasury of Arab countries, which will be reflected in improving the performance of the public sector. These results of that study are expected to provide useful information for investors, accounting policy makers and stakeholders. Based on the foregoing, the scientific contribution of the study is to explain the international efforts made to implement international financial reporting standards in improving the performance of the public sector, which is reflected in advancing economic development.