The Level of Compliance with International Accounting Standard (IAS 24): Evidence from Bahrain

This paper aims to assess the level of compliance with IAS 24 (Related Party Disclosures) in Bahraini listed firms. A survey used to collect the data, the ninth dimensions of the survey, which include (General requirements, transactions with control relationship parent, transactions with joint control, transactions with subsidiaries, transactions with associates, transactions with joint venture, transactions with management personnel, transactions with government related entities, understanding IAS 24) were tested. The main results indicated the level compliance with IAS 24 is 76% in Bahraini listed firms. The results of this paper can benefit all related party disclosures. This paper recommends for future research to use different methods to collect the data as well as this paper also contributes towards a better understanding of the accounting practices and standards in order to help the regulatory body in Bahrain to increase the level of compliance of the disclosure requirements of IAS 24.

Keywords: Disclosure Requirements, Related Party Disclosures, IAS 24, Bahrain Bourse.