Abstract

The research is aimed at identifying the importance of maintaining compliance control reports of an international standard with those of government agencies. Additionally, the most important effects when applying international standards to the presentation of government financial reports were analysed.Achieving the goals of meeting required targets and stated objectives, a questionnaire was distributed to account managers, financial managers, and accountants. The data was processed using a simple regression test; the study researched the impact of applying international standards when preparing government financial reports. Furthermore, the study clarified the extent of compliance needed by authors of government control reports to meet international standards. Therefore, the researcher has provided a set of the most important recommendations: Attention was paid to the focus and follow up pursued by the authors of financial reports to ensure the application of international standards. Also, conducted were more studies to identify weaknesses and strengths in local accounting standards, continually monitoring to maintain international standards.