In the light of globalization and the information age and increase financial markets deeper and wider, Vtaktt transactions where the local areas and the regional to the international sphere, and become international companies and multinational control strategy commas of the global economy, and in order to meet the financial statements published for these companies to the needs of users in different areas, those statements have been prepared on the basis of accepted accounting standards, and a user acceptance accounting standards followed when financial statements are prepared in one of the properties available in accounting standards target.
The Iraqi accounting environment is part of the international accounting environment, and it should come out from the local to the international accounting applications, especially after the of change the situation in Iraq and the transition from a socialist economy to a market economy, making the pursuit of the adoption of the application of international standards in the Iraqi environment is desperately needed at the present time to attract companies to work in the markets if confirmed of being subject to accounting standards and uniform presence of accounting practices in line with international accounting standards to unify the accounting language and provide a unified reading of the financial statements to give credibility to the accounting information to be can be trusted and relied upon .
Therefore, any effort to achieve consensus must be focused on inventory and analysis of the factors and variables that may contribute to the reduction of aspects of the fundamental disagreement between the local accounting standards on the one hand and international accounting standards on the other hand, this study specifically aimed to emphasize the need to reach national standards going Along with the requirements of international standards, and the diagnosis of the most important obstacles to achieve compatibility and coordination between local and international standards 0 The study found a set of conclusions, including:
1. that there is a financial and economic event handlers did not want them in the Iraqi accounting issued by the Accounting and Auditing Standards Board of the Republic of Iraq standards, as based on Iraqi companies in addressing many of the issues of accounting and disclosure of relevant information to the consolidated accounting system requirements .
2. In a large gap between the reality of the accounting system applied in the Iraqi companies and the International Accounting Standards requirements represented by failure of disclosure in the financial reports and some of the gaps in the preparation of such reports.
3. There is a need to achieve compatibility between the Iraqi accounting standards and international standards for the unification of the financial reports of companies that operate inside Iraq through the creation of accounting practices in line with international accounting standards language.