Awareness and Adoption of IFRS 41 in the GCC: Perception of Arabian Horse Breeders
Abstract
Purpose: The purpose of this study is to analyze the state of IFRS, especially IFRS 41 among horse breeders in the GCC region regarding awareness, adoption intention, and the challenges faced during IFRS adoption.
Design/Methodology/Approach: The study population of this study included individuals associated with horse farms and horse industry selected through a convenient sampling method. A semi-structured questionnaire was developed and used for data collection. The relationship between IFRS awareness, influencing factors, barriers to adoption, and intent to adopt IFRS was examined using structural equation modeling (SEM) based on the theoretical frameworks of Theory of Planned Behavior (TPB) and the Technology Acceptance Model (TAM).
Findings: The study findings revealed a low level of awareness and adoption prevalent among horse breeders. Factors that influence the intentions to adopt IFRS were identified.
Practical implications: Policy makers, organizations’ management, and auditors are encouraged to identify ways to improve the awareness and adoption of IFRS 41 involving biological assets.
Originality/value: This study is the first of its kind in which the perception of horse breeders at the ground level about IFRS adoption has been explored.
Keywords: Biological assets, Arabian horses, IFRS, Adoption of IFRS41, Financial reporting
Paper type: Research paper
DOI: 10.7176/RJFA/15-3-02
Publication date:March 31st 2024
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ISSN (Paper)2222-1697 ISSN (Online)2222-2847
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