Impact of Using IFRS on Creating Successful Corporate Governance in Bosnia and Herzegovina

Impact of Using IFRS on Creating Successful Corporate Governance in Bosnia and Herzegovina

ÖZTÜRK, Elif

This study includes overview of implementation of international financial reporting standards in Bosnia and Herzegovina (BIH). The main purpose of the study is to state the importance of using IFRS in terms of successful corporate governance. Also it is aimed to contribute the literature with explanations of the general situation of IFRS in Bosnia. To analyze the effect of using this recent financial reporting system on decision making process of managers who are responsible to create efficient level of corporate governance is also one of the purposes. Also this study provides policy makers with valuable information by showing them the real situation and perception of companies regarding the IFRS and effect of using IFRS on corporate governance. This study provides researchers to look at the corporate governance from a different perspective in terms of decision making. Type of the research is survey study. Population includes the all companies in Federation of Bosnia and Herzegovina from each sector, but the sample includes companies from Sarajevo. Findings show that there is positive relation between level of using this recent financial reporting system (IFRS) and having strong and successful corporate governance. Keywords: Importance of Using IFRS, Decision Making, Perception of Companies, Corporate Governance.

Article
PeerReviewed

ISSN 2303-4564

International Burch University

2013-05-10

1533