Adoption of international financial reporting standards at Ethio telecom. Challenges and prospects

Bachelor Thesis from the year 2019 in the subject Business economics - Accounting and Taxes, grade: 3.5, language: English, abstract: This study aims to assess the benefit and challenges of International Financial Reporting Standards (IFRS) adoption in Ethio telecom. This study was employed a descriptive research type and census sampling was used for the sampling technique the questionnaire data were analyzed using descriptive statistics and data from interview were interpreted quantitatively. Out of the total questioner distributed to 15 respondent 14 questioners returned to which 93 % response rate. The research analysis and findings indicated that IFRS adoption in Ethio telecom will result in a number of important benefits to a wide range of stakeholders. Lack of awareness, high potential knowledge gap, lack of technical competent staff are the main challenges of IFRS adoption, complexity and difficulty of the standards, lack of the professional and training institution to adopting IFRS. Globally, users of financial statements need harmonized, transparent international financial reporting standardized to help them make economic decisions and to enable them to invest in across the globe their capital resources. Ethiopia has recognized the need for accepting those financial reporting standards that were set out by IASB and started implementing it.