@article{Ramo_Ismael_2017, title={The role of financial reporting standards in economic crises / exploratory study of the economy of Kurdistan Region}, volume={6}, url={https://journals.nawroz.edu.krd/index.php/ajnu/article/view/44}, DOI={10.25007/ajnu.v6n2a44}, abstractNote={<p>Intensified discussions lately about the economic crisis in the province and the different views about the causes of the crisis is purely economic, political, or accounting that causes or a mix of both species had to be an analytical study to understand the dimensions of this problem, particularly in light of the economic and social conditions experienced by the province and the cost  of the war against terrorist ISIS ,all that the reason to answer about some academic research questions, that wasn’t possible to predict the economic crisis? Did show signs of crisis forecast then was for stakeholders working to avoid? Or is that agencies could not do anything to avoid that problem? What is the role of financial reporting standards in the economic crisis, is that the adoption of such standards would avoid an economic crisis in the region. Research philosophy crystallized here to study the validity of these views, from the specific deficiencies in accounting systems adopted in the province and some of the causes of economic crises and aggravation due to inefficient accounting systems adopted appropriate accounting procedures for current conditions experienced by the province as well as adopting modern scientific methods and techniques.</p> <p>Search beginning  from the basic assumption that financial reporting standards would reduce the occurrence and worsening economic crises, was a collection of the most important conclusions that the accounting standards to provide quality information contribute to rational decision making and rationalization should enjoy a range of accounting information qualitative characteristics to be of quality, flexibility in accounting methods means that the accountant used to adopt what fit the nature of the activity in his company and is not Sole responsibility for that choice. And the basic reason in the current economic crisis in the province is the low price of oil globally as well as fierce battle with terrorist ISIS gangs. The most important set of recommendations financial reporting standards issued by the International Federation of accountants due to the influence of these parameters to find high quality accounting information are limiting economic crises and aggravation. As well as the necessity of the formation of the Council for accounting standards in the province which represents the Office of financial supervision in the province and the Union of accountants and Auditors in the province as well as a representative of the Ministry of finance and planning in the province and a number of academic specialists in international accounting standards working on the issue of accounting standards that fit with the economic conditions in the province</p>}, number={2}, journal={Academic Journal of Nawroz University}, author={Ramo, Wahid M. and Ismael, Bashir Y.}, year={2017}, month={Jun.}, pages={68–86} }