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Transparency international (2017), described corruption as a major problem affecting countries all over the world but the

effects as stated by Nduku & Tenamwenye (2014, P.25) “are more evident in Africa than any other continent”. The entire

African system has been ravaged by corruption making it the most corrupt worldwide (Lawal, 2007). In the words of

Chantal, (TI 2012, p.1) “Corruption perpetuates poverty. It skews decisions and diverts scarce funds, denying poor people

access to basic social services and resources to improve their livelihood”. To help end this situation this paper proposes to

investigate viability of using IAS/IFRS.


Different bodies over time have been trying to fight corruption in Africa, the notable being private groups who act as

whistle blowers e.g civil societies, journalist, activists, business group etc. Some government’s have established anti-graft

bodies, security units dealing with criminal investigations and even judicial system that solely handle corruption cases but

overally, Africa as classified by Transparency International (2017) was the worst performing with the best being Europe.

The purpose of my research is to try and explore how IAS/IFRS can be used as a tool to help in the fight.


I aspire to undertake qualitative and quantitative research to gain deeper understanding on the feasibility of using IAS/IFRS

to combat corruption.


The usefulness of my research is to try to develop and recommend and effective strategy to tackle corruption with the aim

of eliminating it and enable development which improves livelihood.


1. What is the extend and level of corruption within and without governments in Africa

2. What are the current strategies and challenges of tackling corruption worldwide

3. What is the feasibility of using IAS/IFRS as an aid in combating corruption.

4. Are there any changes needed to ensure effective adoption and use of IAS/IFRS


Quite a number of studies have examined various aspects of IAS/IFRS adoption though mainly in countries outside of

Africa. Countries with least corruption e.g Europe adopted IAS and later IFRS as their reporting standards from year 2002

(Kythreothis,2015). In China, Yan Sun (1999, p.6) article indicates that corruption has been reduced as a result of using

accounting practices, and accounting reviews have uncovered violations and served to prevent future ones. Studies by

Shleifer and Vishny (1993, p.604) suggests that “the first step to reduce corruption should be to create an accounting

system that prevents theft from government”. The view supported by, Everett, Neu & Rahman (2007, p.515) who asserted

that corruption is a problem that can be fought with the help of accounting. Lastly, Malagueno et.al (2010) proposed that

adequate accounting standards force organizations to be accurate and straightforward in their reporting, which enables

transparent use of organizations assets thus hindering corrupt practices and its concealment. Some researchers have also

highlighted some limitations with IFRS (Kythreothis,2015), found that adopting IAS/IFRS might not be enough depending on

the country’s level of corruption. Voice added by Panagiotis (2017) in his study, “Analysis of global IFRS adoption” whose

studies showed varied results and as he indicated was marred by software and time constraints and so generalizations with

his findings can’t be made and it also never touched on an African country.


I intend to carry out my research by reviewing appropriate and available literature on IFRS adoption from least corrupt

countries. Develop questionnaires targeting 200 respondence and carry out structured interviews with civil societies,

government officials and accounting institutions of namely Kenya, South Africa and Nigeria.


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