THE IMPACT OF THE COVID-19 PANDEMIC ON THE REALITY OF THE APPLICATION OF IFRS 15 “REVENUE FROM CONTRACTS WITH CUSTOMERS” IN INDUSTRIAL COMPANIES FROM THE POINT OF VIEW OF EXTERNAL AUDITORS
The study aimed to identify the impact of the COVID-19 pandemic on the reality of the application of the International Financial Reporting Standard No. 15 “Revenue from Contracts with Customers” in Jordanian industrial companies, the population of the study consisted of external certified accountants who are practicing the audit profession in Jordan and holding a chartered accountant certificate (JCPA), whose number until the end of 2019 reached (384) practicing auditors, according to the statistics of the Jordanian Association of Certified Public Accountants, and the number of sample members reached (192) practicing auditors. The distribution of the questionnaire to the study sample was electronically, and the retrieved questionnaires reached (184) in number, of which (166) were valid for statistical analysis. The (Skewness & Kurtosis) test was used to analyze the results of the study. The most important results of the study revolved around the presence of a noticeable impact of the COVID-19 pandemic on the reality of the application of the international reporting standard No. 15 in Jordanian industrial companies, linked with a high relative importance for all dimensions that respectively are (contract costs, display, recognition, measurement and disclosure). The most important recommendations were crystallized around the necessity of obligating the Jordanian industrial company that implements the financial reporting standard No. 15 “Revenue from contracts with customers” to indicate the impact of the pandemic on the real application of this standard, study its impact, and disclose the operations that took place in accordance with the standard during the time of the Covid-19 pandemic.
COVID-19 pandemic: International Reporting Standard No. 15: Jordanian industrial companies