2024, Vol. 7, Issue 1

author(s)
Asmaa Noaman Jasim and Dr. Ali Ibrahim Hussein

abstract
The objective of the research is to comprehend the notion of audit committees and assess their influence on the implementation of IFRS 15 "Revenue from Contracts with Customers" by banks that are publicly traded on the Iraq Stock Exchange. In order to accomplish the study goal and examine its hypotheses, a descriptive analytical approach was employed. The study utilized the yearly reports of the Iraqi Securities Commission, which were available on its website, for practical purposes. The research population consisted of all 46 banks that were listed on the Iraq Stock Exchange. The sample, which spanned from 2013 to 2022, contained 12 institutions that satisfied two specific criteria: they had to demonstrate continuity and have the necessary data available. The findings suggested that the attributes of audit committees, namely their size and the independence of their members, did not have any influence on the adoption of IFRS 15. Nevertheless, the features of the audit committees, namely the financial and accounting knowledge of its members and the frequency of their meetings, had a beneficial effect on the implementation of IFRS 15 Revenue from Contracts with Customers.