Title: The suitability of the small and medium-sized enterprises in Dubai to the requirements of International Financial Reporting Standards

Authors: Mahmoud Nassar; Khalil Nimer; Abu Reza Momammad Islam

Addresses: College of Business, Al Ain University, Abu Dhabi Campus, P.O. Box 112612, Abu Dhabi, UAE ' College of Business, Gulf University for Science and Technology, P.O. Box 7207, Hawally 32093, Kuwait ' College of Business, Al Ain University, Abu Dhabi Campus, P.O. Box 112612, Abu Dhabi, UAE

Abstract: The objectives of this paper are to identify and address the benefits of applying IFRS and its suitability by targeting SMEs licensed to practice auditing in Dubai at the end of 2017. We sent out questionnaires targeting 240 auditors; received 189 responses. Out of this 135 responses were considered. Others were discarded as they were not suitable for statistical analysis. There are a number of results obtained from this study based on the results of statistical tests. They are as follows. The consideration of SMEs (as an important part of the national economy) is that the requirements of IFRSs for these companies are compatible with their environment, in terms of presentation of financial statements ensuring proper presentation of their financial statements. They must prepare their accounting records in accordance with accounting standards in a timely and accurate manner, which in turn, would eventually, enable these companies to make right decisions.

Keywords: IFRS; International Financial Reporting Standards; SMEs; small and medium size enterprises; international standards; financial reporting; accounting regulations; Dubai.

DOI: 10.1504/IJEBR.2020.108503

International Journal of Economics and Business Research, 2020 Vol.20 No.1, pp.41 - 58

Received: 04 Nov 2019
Accepted: 14 Jan 2020
Published online: 14 Jul 2020 *

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