Ifrs compliance among small and medium enterprises in sekondi-takoradi

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The purpose of this analysis was to analyse compliance by companies in the Sekondi-Takoradi Metropolitan Area, Ghana, with International Financial Reporting Requirements (IFRS) with particular regard for SMEs. The study sought to explore unique corporate characteristics which affect corporate compliance to IFRS in Ghana specifically the scope of compliance by the Ghanaian SMEs to the disclosure requirement for the adopted IFRS. This research was carried out using the descriptive design. In the metropolis, this analysis analysed 100 SMEs; however, data from 78 medium-sized companies were obtained. The tools used included a self-constructed conformity index (CINDEX) and an interview guide. The study of data was based on both descriptive and inferential statistics. The study showed that medium-sized businesses are 77.9 percent compliant in the metropolis average. Company characteristics such as forms, profitability and method of audit will also affect 70.6 percent of the difference in company compliance with IFRS standards for transparency. The study proposed to provide a guide on conformity with the International accounting standard (IASB), the National Board of Small-Scale Industry (NBSSI) and owners and management of the various SMEs within a metropolis with the Institute of Chartered Accountant Ghana, the ICAG, to develop regular training programmes, aimed at providing accountants in the sector with the practical guidance.
A thesis submitted to the department of accounting and finance, kunst school of business, in partial fulfillment of the requirement for the award of master of science in accounting and finance.