ABSTRACT
This chapter presents a discussion of the definition of international financial reporting standards (IFRS) and tracks the history of forming these standards. It also discusses the main theoretical strands, which support the compliance with IFRS, and sheds light on the motivations of the convergence toward IFRS. The chapter ends with a comprehensive review of prior empirical work that have examined the level of compliance with the international accounting standards’ disclosure requirements in both developed and developing countries, including a discussion of the main determinants of the level of compliance with IFRS that have been introduced by scholars focusing on the context of the Middle East.
