On Monday 27/12/2021 the Accounting Department at the College of Administration and Economics at the University of Basra organized a scientific symposium on ((the role of geopolitics, temperament, exceptionalism and racism in the development of international financial reporting standards)).

The symposium aimed to shed light on the role of politics in the formation of international financial reporting standards, as the Anglo-Saxon culture dominated the formulation of international financial reporting standards, which necessarily necessitated the reflection of Western culture in all its aspects, even the exceptional and racist aspect in it on international financial reporting standards.

The symposium, which was moderated by the Head of the Accounting Department, Associate Professor Dr. Munther Jabbar Dagher, and lectured by Prof. Riyad Al-Abdullah, the teaching staff at Al-Bayan University and the advisor at the Arab Institute of Certified Accountants, dealt with a historical presentation of the issuance of international accounting standards and the role of Britain in issuing international financial reporting standards and directing them to their own interests.

The symposium recommended the necessity of adapting the international financial reporting standards to suit the Iraqi environment without taking it as a ready-made recipe.