Record Details

Challenges of Converging to IFRS in Nigeria

International Journal of Business and Information Technology

View Archive Info
 
 
Field Value
 
Title Challenges of Converging to IFRS in Nigeria
 
Creator Nyor, Terzungwe; Department of Economics and Management Sciences, Nigerian Defence Academy, Kaduna, Nigeria
 
Description This study expresses fears that the credibility crises suffered by financial statements of Nigerian firms may deepen in view of the flexibility that IFRS allows. Using Chi-square for the analysis of questionnaire, the study concludes that Nigerian companies should converge to IFRS in view of the fact that it will enhance better accountability and transparency and improve quality of reporting, despite its cumbersomeness and the initial anticipated problems. The study recommends that Nigeria should adopt IFRS but only for group accounts of listed companies while Nigerian GAAP should still be mandatory for individual company’s accounts of listed companies and optional for group accounts of non-listed companies as it is the practice with Germany.
 
Publisher International Journal of Business and Information Technology
 
Contributor —
 
Date 2012-07-25
 
Type —
 
Format application/pdf
 
Identifier http://ojs.excelingtech.co.uk/index.php/IJBIT/article/view/447
 
Source International Journal of Business and Information Technology; Vol 2, No 2 (2012): June
 
Language en
 
Rights The copyright of the contribution is transferred to IJBIT in case of acceptance. The copyright transfer covers the exclusive right to reproduce and distribute the contribution, including reprints, translations, photographic reproductions, microform, electronic form, or any other reproductions of similar nature. The Author may publish his/her contribution on his/her personal Web page provided that he/she creates a link to the mentioned volume of IJBIT. The Author may not publish his/her contribution anywhere else without the prior written permission of the publisher unless it has been changed substantially. The Author warrants that his/her contribution is original, except for such excerpts from copyrighted works as may be included with the permission of the copyright holder and author thereof, that it contains no libellous statements, and does not infringe on any copyright, trademark, patent, statutory right, or propriety right of others. The Author also agrees for and accepts responsibility for releasing this material on behalf of any and all co-authors.