THE SIGNIFICANCE OF CLOUD ACCOUNTING IMPLEMENTING AND ITS INFLUENCE ON ENHANCING THE QUALITY OF FINANCIAL REPORTING: EVIDENCE FROM EMERGING MARKETS

Abstract

The present study seeks to elucidate the significant impact of cloud accounting technologies as a type of innovation in information technology and its contribution to enhancing the financial reporting standard within the scope of international standards. To reach the objectives of this study and look at hypotheses through a descriptive and analytical lens, it is necessary to look at previous research and use it to make a questionnaire that shows how important it is to use cloud accounting techniques to improve the quality of financial reporting. The system comprises two axes, and the total number of questions reached 26. The distribution was conducted among a subset of employees in publicly traded corporations. 118 participants were included in the study conducted on the Iraqi Stock Exchange. The hypotheses were examined using descriptive statistics, the Pearson correlation matrix, and the structural equation modelling technique with the statistical software SPSS version 26. The findings demonstrated a statistically significant influence of cloud accounting, namely at a rate of 26.6%, on attaining high-quality financial reporting. It became evident that the future of cloud accounting in Iraq would be remarkable if the government and all companies made every effort to overcome the challenges and barriers that hinder its implementation, thereby significantly enhancing the generation of high-quality financial statements aligned with international financial reporting standards.