The Effects of International Financial Reporting Standards on the Quality of Financial Statements in Nigeria Listed Companies
Journal Title: Journal of Economics, Finance and Management Studies - Year 2025, Vol 8, Issue 02
Abstract
The study of the effects of international financial reporting standards on the quality of financial statements in Nigeria listed companies seeks to understand how the implementation and adherence to the accounting standards influence the overall quality of financial reporting by entities. Additionally, it explored the implications of non-compliance or selective application of such standards on the accuracy and transparency of financial statements. The study adopted cross-sectional design which comprise of the 151 companies that were listed in the 11 sectors on the Nigerian Stock Exchange. Purposive random sampling technique was used to select 400 respondents from five selected companies. The statistical instrument employed to examine the different hypotheses presented in the study is the analysis of variance (ANOVA). The Statistical Package for Social Sciences (SPSS) tool, version 20, was used to examine the data. The result shows that faithful presentation of financial statements, and comparability of financial statements have significant effect on the relevance, verifiability, timeliness, understandability and hence quality of the financial statements in selected companies in Nigeria. The study recommends that companies should endeavour to adhere to international financial reporting standards in the preparation and presentation of their financial statements in order to remain competitive globally and for effective and aggregate control of cash and budget management and for accurate financial statements.
Authors and Affiliations
Omoniyi Alabi ADEOSUN (Ph. D) , Mayowa AYEDOGBON,
Keywords
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- EP ID EP758813
- DOI 10.47191/jefms/v8-i2-07
- Views 42
- Downloads 0
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