The Impact Of Adoption the Financial Reporting Standard IFRS 13 (Fair Value Measurement) On The Quality Of Financial Statements Information.

Abstract

This paper seeks to investigate the role of the application and use of Financial Reporting Standard (IFRS) 13 in enhancing the quality of financial statements by providing accounting information characterized by fairness in the representation of financial statements, as well as the impact of financial reports based on Financial Reporting Standard (IFRS) 13 on the accuracy, appropriateness, and reliability of financial data and information provided to users of financial statements. Several hypotheses were tested based on the main premise that: "The activation of fair value measurement in the financial statements using the Financial Reporting Standard (IFRS13) results in obtaining higher-quality financial statements, which has an effect on supporting and assisting users of the financial statements in making correct decisions." The research revealed that measurement and disclosure using Financial Reporting Standard 13 (IFRS) has a positive effect on the quality of financial statements and is regarded as an absolute necessity for the foreseeable future in light of rising inflation rates, price fluctuations, and rapid technological advancements. Hence, it is necessary to raise interest and growth in the culture of fair value accounting, to have institutions and competent authorities support it, to strive to consolidate it and to emphasize its benefits and benefits via lectures and seminars. and awareness circulars Individuals responsible for the preparation of financial statements in conformity with IFRS 13). The methods of producing and presenting this information must be precise and timely in order to provide it to its consumers in a timely way. In addition, it is essential that accounting systems be redesigned to conform to the fair value measurement and disclosure methods of IFRS 13 and that additional research be conducted on the factors affecting the accuracy of fair value measurement in terms of financial and economic factors and the behavioral impact on market prices.