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Perceived Effects of International Financial Reporting Standards (IFRS) Adoption on Quality Financial Reporting of Quoted Companies in Nigeria

Research Journal of Finance and Accounting

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Title Perceived Effects of International Financial Reporting Standards (IFRS) Adoption on Quality Financial Reporting of Quoted Companies in Nigeria
 
Creator BUKKI, Abolaji, O.
OLATOYE, Adeolu Oludare
 
Description This study examined the effectiveness of IFRS on financial reporting quality of quoted companies in Nigeria. Five research questions were formulated and tested in this study. The study involved a sample of 150 respondents. A self-designed questionnaire was used, descriptive statistics and chi-square analysis at 0.05 level of significance was used to analyse the data gathered. Result showed that IFRS adoption would have significant positive effects on capital markets stability and efficiency. IFRS  adoption would significantly improve the transparency and usefulness of account to investors. IFRS adoption would  significantly improve public confidence in market and it will significantly enhanced the uniformity, comparability and reliability of the financial statements. Based on the findings, it was recommended among others that Standard setter such as financial reporting council should integrate the knowledge on the adoption of international financial reporting standard more in our institution curriculum. Regulatory authority such as security and exchange commission Nigeria Stock Exchange, Federal Board of Inland Revenue service should encourage all members and stakeholders to adopt as single financial reporting standard that will reduce information asymmetry in our economy. Keywords: Effectiveness, IFRS, Financial, Quality, Information and Reporting
 
Publisher The International Institute for Science, Technology and Education (IISTE)
 
Date 2016-01-02
 
Type info:eu-repo/semantics/article
Peer-reviewed Article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
 
Identifier http://iiste.org/Journals/index.php/RJFA/article/view/27827
 
Source Research Journal of Finance and Accounting; Vol 6, No 23 (2015); 1-8
 
Language eng
 
Relation http://iiste.org/Journals/index.php/RJFA/article/view/27827/28531
 
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