*4.7. Verification of Research Hypothesis*

The first goal in analysing the results was to test if the findings were robust. In particular, this examines if individuals gave broadly similar answers to roughly similar questions (an essential test of reliability). Furthermore, the results using a 1% level of significance as our tested hypotheses under one sample test are computed on the Table 8 below:


**Table 8.** Hypothesis testing results.

Source: Developed purposely for this research.

As analysed above from the presentation of results for the test of hypothesis on Table 8, it was noticed that the *p*-value for comparability and transparency was 0.000, which is less than 0.01 at 1% level of significance. We therefore reject the null hypothesis which says that the implementation of the IFRS would not improve the comparability and transparency of financial statements and accept the alternative hypothesis which says that the implementation of the IFRS would improve the

#### *JRFM* **2020**, *13*, 172

comparability and transparency of financial statements. Therefore, we conclude that the International Financial Reporting Standards would have a significant effect on the comparability and transparency of financial statements.

Furthermore, the *p*-Value for Cameroon's resources was greater than 1% level of significance (*p*-Value > 0.01) therefore, our study was insignificant. That is, we do not have enough evidence to reject the null hypothesis which says IFRS cannot be fully implemented given Cameroon's resources and within the stated time, and conclude that the test was statistically insignificant at 1% level of significance. Lastly, the *p*-Value for transitioning to IFRS was less than 1% level of significance (*p*-Value < 0.01) therefore, our study was significant. That is, we then reject the null hypothesis which says that the costs involved in transitioning to IFRS supersedes the benefits and accept the alternative which says that the benefits involved in transitioning to IFRS supersede the cost of the transition. Therefore, we conclude that there is likely an overall effect of benefits and costs by transitioning to IFRS.

4.7.1. Discussion of Results on the Comparability and Transparency of the Financial Statements under the IFRS

The first objective of this study was geared towards examining comparability and transparency of the financial statements under the IFRS. Aspects of perception examined showed that majority of the respondents agreed that with the introduction of IFRS in the Cameroon accounting reporting system, there is a higher quality of disclosure in financial statements presented as per the IFRS than under OHADA. This means that the respondents perceive that IFRS enables greater transparency, as such disclosure in financial statements filed in accordance with IFRS can reveal more information about the financial situation of the business, which makes analysis easier. Furthermore, a significant percentage of respondents also agreed that the financial statements prepared in accordance with the IFRS would be more comparable to national and international companies than those prepared following the OHADA GAAP. Greater comparability lowers the cost of acquiring information and increases the overall quantity and quality of information available to analysts about the firm. In addition to that, the respondents were positive about the idea that reporting in accordance with the IFRS would result in financial statements that reflect a true and fair view of the financial situation of the company. According to some proponents of International Financial Reporting Standards (IFRS), IFRS increase financial comparability and usefulness of accounting information (Tweedie 2010).

The last aspect identified under this objective recorded great confirmation that there was more transparency of financial statements prepared in line with IFRS than those prepared in accordance with the OHADA GAAP. These findings align to an extent with those of Rachel Byers (2017), who found that a transition to IFRS would have significant effects on those accounting information sources, as this has been already adopted by over 100 countries because of its levels of transparency and comparability in international business environments spur by globalisation. Furthermore, P.L. Joshi et al. (2008), on the perception of accounting professionals on the adoption and implementation of a single set of global accounting standards in Bahrain, proved that the accountants were optimistic about the harmonisation of accounting standards and they feel that it is worth the while.
