THE IMPACT OF APPLYING FINANCIAL REPORTING FOR PUBLIC-PRIVATE PARTNERSHIP (PPP) PROJECTS ACCORDING TO IFRS 15 AND IFRS 16 ON THE QUALITY OF ACCOUNTING INFORMATION AND FINANCIAL PERFORMANCE IN THE IRAQI ENVIRONMENT

Abstract

This research aims to study and analyze the impact of applying International Financial Reporting for Public-Private Partnership (PPP) projects according to IFRS 15 and IFRS 16 on the quality of accounting information and financial performance, using a proposed model for implementation within the Iraqi environment. The researcher concluded that there is a statistically significant relationship between the importance of financial reporting for PPP projects in accordance with IFRS 15 and IFRS 16 and the quality of accounting information (QAI) and financial performance (FP).The researcher made several recommendations, including: the necessity of continuous research to find solutions and mechanisms to overcome the challenges facing the implementation of accounting data preparation systems (UAS), such as: Utilizing accounting systems and software that help in standardizing and unifying accounts and their classification across all government units in the country.

Providing adequate training programs. Ensuring timely communication among users of accounting data preparation systems (UAS). Activating all types of control procedures to address any expected loopholes in applying UAS The necessity of integrating the current Iraqi accounting data preparation systems (UAS) with the application of international financial reporting standards. The need to support UAS in Iraq with modern electronic systems and networks to provide time- and effort-saving advantages and ensure the availability of required information to support timely decision-making, along with regular updates in line with IFRS requirements. Such developments would assist in applying the unified system in partnership cases, as the current unified accounting system in Iraq is only capable of supporting one type of partnership: multi-party governmental partnerships within the governmental system.