Abstract
In this study we try to exposure to one of the topics that occupy the economic , financial and legal thought and its reflections on accounting implications, which affects the topic of corporate governance has much attention from scholars and researchers today and in the various areas of economic and financial sciences, given the significance at the present time at all levels, We try in our study to test this concept in the Iraqi environment, through study and analysis of financial reports prepared by the shareholding companies listed in the Iraqi securities exchange and how to harmonize with the requirements of the principle of disclosure and transparency, which contained in the corporate governance principles issued by the International Organization for Economic Co-operation and Development (OECD), Which became the subject of disclosure and transparency is a pressing need in recent years throughout the world in light of the concepts of globalization and open borders and freedom of access to information as a means of attracting investments and development economics States, the aim of this study contribute to the development of theoretical and applied bases to the concept of corporate governance in the Iraqi environment, as This environment facing the case of absence and lack of interest in the concept and its application by Iraqi companies.Through study and analysis of financial reports for a sample of (5) mixed industrial companies are large companies in the manufacturing sector and for (3) consecutive years and how these reports harmonizing with the requirements of the international principles of disclosure and transparency of corporate governance, the findings of the study pointed to:1 - There is an urgent need to establish a body or foundation specialized in issuing the guide of rules and instructions for corporate governance of Iraq.2 - The disclosure Iraqi companies had not been fast and enough as well as the weakness of the disclosure of material information in terms of corporate financial results and operational objectives, the risks of substance, shareholdings and information for members of the Governing Council and the executive directors.3 - There is a commitment by corporate accounting standards, rules and procedures for Iraq's uniform accounting system, as well as the presence of annual audited accounts by independent and qualified auditors.4 - Limited channels broadcast information to users, which requires finding other channels assist in the delivery of information to all users easily and pleased.5 - A weak presence of analyses and advice of intermediaries that affect the decisions of investors in the financial market.In light of these findings, the study provided some conclusions and proposals, which we believe will contribute to increase knowledge of the topic of corporate governance and its application by the Iraqi companies.
