The need for compatibility With International Financial Reporting Standards


Earlier this year Iraqi parliament ratified foreign investment of motives were presented to the foreign investors for encouraging them to invest in the country in most economical sectors. This mean we are committed to deal with international parties demand accounting information differ from the resulted accounting information made by Iraqi companies, which prepared according to the unified accounting system. The international investors are more familiarity with international financial reporting standards (IFRS), which became adopted or harmonized with in most world countries as being facilitated the processes of cross-border offering and listing. This research sheds light on the dimensions of this problem with showing an ability of adoption of harmonization with (IFRS) in Iraq, with benefit from extremist of other countries that converted to the market economy.