TO FIND OUT HOW IAS/IFRS CAN BE USED EFFECTIVELY TO FIGHT CORRUPTION IN AFRICATO FIND OUT HOW IAS/IFRS CAN BE USED EFFECTIVELY TO FIGHT CORRUPTION IN AFRICA
Transparency worldwide (2017), described corruption as a significant downside affecting international locations everywhere in the world however the
results as acknowledged by Nduku & Tenamwenye (2014, P.25) “are extra evident in Africa than every other continent”. All the
African system has been ravaged by corruption making it essentially the most corrupt worldwide (Lawal, 2007). Within the phrases of
Chantal, (TI 2012, p.1) “Corruption perpetuates poverty. It skews selections and diverts scarce funds, denying poor individuals
entry to fundamental social providers and assets to enhance their livelihood”. To assist finish this case this paper proposes to
examine viability of utilizing IAS/IFRS.
STATEMENT OF THE PROBLEM
Completely different our bodies over time have been attempting to battle corruption in Africa, the notable being personal teams who act as
whistle blowers e.g civil societies, journalist, activists, enterprise group and so forth. Some authorities’s have established anti-graft
our bodies, safety models coping with legal investigations and even judicial system that solely deal with corruption circumstances however
overally, Africa as labeled by Transparency Worldwide (2017) was the worst performing with the most effective being Europe.
The aim of my analysis is to attempt to discover how IAS/IFRS can be utilized as a instrument to assist in the battle.
TYPE OF RESEARCH
I aspire to undertake qualitative and quantitative analysis to realize deeper understanding on the feasibility of utilizing IAS/IFRS
to fight corruption.
The usefulness of my analysis is to attempt to develop and suggest and efficient technique to sort out corruption with the purpose
of eliminating it and allow improvement which improves livelihood.
1. What's the lengthen and degree of corruption inside and with out governments in Africa
2. What are the present methods and challenges of tackling corruption worldwide
three. What's the feasibility of utilizing IAS/IFRS as an support in combating corruption.
four. Are there any modifications wanted to make sure efficient adoption and use of IAS/IFRSLITERATURE REVIEWS.
Fairly various research have examined varied elements of IAS/IFRS adoption although primarily in international locations exterior of
Africa. Nations with least corruption e.g Europe adopted IAS and later IFRS as their reporting requirements from 12 months 2002
(Kythreothis,2015). In China, Yan Solar (1999, p.6) article signifies that corruption has been lowered because of utilizing
accounting practices, and accounting critiques have uncovered violations and served to forestall future ones. Research by
Shleifer and Vishny (1993, p.604) means that “step one to scale back corruption needs to be to create an accounting
system that stops theft from authorities”. The view supported by, Everett, Neu & Rahman (2007, p.515) who asserted
that corruption is an issue that may be fought with the assistance of accounting. Lastly, Malagueno et.al (2010) proposed that
satisfactory accounting requirements drive organizations to be correct and simple of their reporting, which allows
clear use of organizations property thus hindering corrupt practices and its concealment. Some researchers have additionally
highlighted some limitations with IFRS (Kythreothis,2015), discovered that adopting IAS/IFRS won't be sufficient relying on
the nation’s degree of corruption. Voice added by Panagiotis (2017) in his research, “Evaluation of world IFRS adoption” whose
research confirmed diverse outcomes and as he indicated was marred by software program and time constraints and so generalizations with
his findings can’t be made and it additionally by no means touched on an African nation.
I intend to hold out my analysis by reviewing applicable and accessible literature on IFRS adoption from least corrupt
international locations. Develop questionnaires focusing on 200 respondence and perform structured interviews with civil societies,
authorities officers and accounting establishments of specifically Kenya, South Africa and Nigeria.
Alexios Kythreotis 2015, The interrelation amongst trustworthy illustration (reliability),corruption and IFRS adoption: An
empirical investigation, Worldwide Journal of Enterprise and Financial Sciences Utilized Analysis (IJBESAR),Vol.eight,Problem
1,pp. 25-49 https://www.econstor.eu/bitsream/10419
Andrei Shleifer and Robert W. Vishny 1993, “Corruption”, The quarterly Journal of economics, Vol.108 No.three, pg. 599-617
Chantal Uwimama 2012, Transparency Worldwide: Poverty and Corruption in Africa; Group voices break the cycle
pp,1 https://www.transparency.org/information/content material/exercise/2012
Elizabeth Nduku & John Tenamwenye 2014, Corruption In Africa: A Menace to Justice and Sustainable Peace
Gargalis Panagiotis 2017, A Qualitative Evaluation of the World IFRS Adoption Trustees Perspective Vol 6 Issue2 pp 59-70
Gbenga Lawal 2007,Corruption and Growth: Challenges for political and Financial change journal 2 challenge 1
Jeff Everett, Dean Neu and Abu Shiraz Rahaman 2007, Accounting and the worldwide battle towards corruption Quantity 32,Problem
6, pp 513-542 https://doi.org/10.1016/j.aos.2006.07.002
Ricardo Malagueno, Chad Albrecht ,Christopher Ainge and Nate Stephens, 2010,“Accounting and corruption; a crosscountry evaluation”, Journal of Cash Laundering Management, Vol.13 Problem four pp 372-393
Solar Yun 1999, Reform, State and Corruption: Is corruption much less damaging in China than in Russia? “comparative politics
Vol 32 No.1, pp,1-20 https://www.jstor.org/secure/422430
Transparency Worldwide 2018, Corruption Notion Index 2017 https://www.transparency.org