IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 2 NO. 7 2016

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Impact of the Adoption of International Reporting Standard on Firm Performance in Nigeria: Evidence from Nigerian Stock Exchange.

Onyefulu Deborah Iyinomen and Anichebe, Alphonsus Sunday (Ph.D)

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Abstract

This research work is on impact of adoption of international reporting standard on firm performance in Nigeria. Data were gathered through questionnaire and hypotheses stipulated which basically questioned the reliance on financial statement according to IFRS, quality of financial statement according to IFRS and the increase in capital formation in Nigerian companies. To test these hypotheses, Z-Test statistics was employed. The result revealed that both the local and foreign investors were happy with the introduction of current trends of corporate financial reporting standards. This was evidence as it provides clear insight in the interpretation and understanding of financial report and that the quality of corporate financial reports has improved since inception of IFRS. The regulatory authorities should further be strengthened and empowered. There should be a review of the current legal/statutory provision in order that reporting entities will not breach the law as they implement the current standards of corporate reporting which is IFRS.

keywords:

corporate financial reporting, international financial reporting standard (IFRS), firm performance.

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