The role of cloud computing in enhancing the efficiency of implementing International Financial Reporting Standards (IFRS) – an applied study in commercial banks

Authors

  • Dunya Mohsin Department of Accounting, College of Administration and Economics, Al-Mustansiriya University, Baghdad, Iraq.
  • Ashwaq talip Department of Accounting, College of Administration and Economics, Al-Mustansiriya University, Baghdad, Iraq.
  • Kareema Abbas Department of Accounting, College of Administration and Economics, Uruk University, Baghdad, Iraq.

This research aims to demonstrate the role of cloud computing in enhancing the efficiency of International Financial Reporting Standards (IFRS) implementation in banks, given the increasing use of modern technologies in banking and accounting. The importance of this objective stems from banks' need for advanced accounting systems capable of meeting the requirements of international standards, thus ensuring the preparation of accurate, reliable, and timely financial reports. The research problem lies in exploring the extent to which cloud computing can address the challenges banks face when implementing IFRS, particularly those related to the complexity of accounting processes, the multiplicity of data sources, and reliance on traditional systems that may limit the efficiency and quality of financial reporting. Based on this problem, the research hypothesized that cloud computing effectively contributes to enhancing the efficiency of implementing International Financial Reporting Standards (IFRS) in banks by supporting accounting information systems and improving the accuracy and speed of financial processing. The research concluded that banks' adoption of cloud computing leads to improved quality of financial reports, The research recommended that banks adopt modern cloud solutions within their accounting systems, with attention to developing the technological infrastructure, enhancing cybersecurity procedures, and training accounting staff to ensure maximum benefit from cloud computing in supporting the efficient application of International Financial Reporting Standards.

Keywords:

Cloud computing, International Financial Reporting Standards (IFRS), efficiency of financial reporting, accounting automation, application of international standards in banks

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The role of cloud computing in enhancing the efficiency of implementing International Financial Reporting Standards (IFRS) – an applied study in commercial banks. (2026). Journal Port Science Research, 9(2), 414-435. https://doi.org/10.36371/port.2026.2.13

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The role of cloud computing in enhancing the efficiency of implementing International Financial Reporting Standards (IFRS) – an applied study in commercial banks. (2026). Journal Port Science Research, 9(2), 414-435. https://doi.org/10.36371/port.2026.2.13