This study seeks to examine the effect of international financial reporting standards and board directors’ characteristics on the value relevance. The analysis was conducted using financial reports from a selected group of companies that are listed on the Iraqi Stock Exchange. It analyzed data from 10 banks during the period of 2012–2017 in order to accomplish the research objective. To test the hypothesis, both main and subsidiary hypotheses were utilized. The findings indicated a strong correlation between the equity's book value and its valuation, suggesting that value relevance exists in both individual and interactive analysis models. Regarding earnings, it seems that they are not significantly connected to the market value of the shares. However, the adoption of IFRS resulted in a considerable decrease in the value relevance during the period before and after its implementation. In terms of the board of directors’ characteristics, it was discovered that both the size and ownership of the board have an impact on value relevance. However, when interacting with IFRS, there was no notable effect. The research suggests that adhering to IFRS is essential due to their ability to align with the value that has demonstrated its efficacy across diverse global contexts.