Financial reporting in qatar: An empirical analysis

Abstract

This study is concerned with providing a comprehensive review of financial reporting in Qatar and statistically assessing the quality of such reporting. The methodology adopted is as follows: the relevant accounting literature is reviewed; the accounting environment and the accounting practice in Qatar are examined, and the level of disclosure of information in financial reports is then tested empirically. In sum, the results obtained suggest that Qatari companies are disclosing more information than strictly required by law. However, the need for improved financial reporting in Qatar has been recognized. Findings of this study should be of significant interest to the financial accounting legislative authorities in Qatar. Such findings may be considered as a necessary precedent before taking any major accounting policy decisions for establishing any formal requirement to be given in financial reports of companies. Findings should also be of significant interest to the international financial accounting policy-making bodies for the development of international accounting standards.