Compliance with International Accounting Standards in a National Context: Some Empirical Evidence from the Cairo & Alexandria Stock Exchange

Afro Asian Journal of Finance & Accounting, Vol. 1, No. 1, 2008

Posted: 11 Mar 2008

See all articles by Khaled Samaha

Khaled Samaha

American University in Cairo

Pamela Stapleton

University of Manchester - Division of Accounting and Finance

Abstract

The contribution of this paper is to provide evidence, from a sample of 281 companies, about Egyptian convergence to international accounting. We construct indices to measure both disclosure and measurement convergence, and the impacts of education and training, tax, and three company characteristics on compliance. Compliance, which is low, is associated with the volume of trading in company stocks, but not with industry sector or legal status. The findings suggest weak enforcement, and a need for education and training of accountants, and the removal of adverse tax implications for companies if increased convergence is to be achieved.

Keywords: Egyptian accounting standards, International accounting standards, Emerging capital markets, Egypt, de facto compliance, Enforcement, Education and Training, Tax conflicts, de jure convergence

JEL Classification: M41, M44, M45, M47, G38, H25

Suggested Citation

Samaha, Khaled and Stapleton, Pam, Compliance with International Accounting Standards in a National Context: Some Empirical Evidence from the Cairo & Alexandria Stock Exchange. Afro Asian Journal of Finance & Accounting, Vol. 1, No. 1, 2008, Available at SSRN: https://ssrn.com/abstract=1102283

Khaled Samaha (Contact Author)

American University in Cairo ( email )

P.O. Box 2511
Cairo
Egypt

Pam Stapleton

University of Manchester - Division of Accounting and Finance ( email )

Crawford House
Oxford Road
Manchester M13 9PL
United Kingdom

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