ABSTRACT
As the forces ofglobalization prompt more and more countries
to open their doors to foreign investment and as businesses expand across
borders, this has led to recognition ofthe benefits of having a commonly
understood financial reporting framework supported by strong global accepted
accounting standards. The circumstances that necessitated this recognition
arose out of the need for reliability, in respect offinancial information being
disclosed in the published financial statement offinancial information being
disclosed in the publishedfinancial statement ofvarious enterprises in various
countries. The adoption ofIFRS has therefore become an issue ofglobal
relevance. The research project investigated the effect ofIFRS on Financial
Reporting Quality in Nigeria. The problem has always been the needfor
accounting standards that would cut across borders. Thus, boosting the
reliability oflocal accounting information as well as the confidence
oflocalfinancial information users andforeign investors alike. Thus, during the
course ofthis research, three specific objectives wereformed with include
thefollowing to examine ifthe adoption ofIFRS will enhance efficiency
offinancial reporting in PZ Cussons PLC, to examine the relationship between
accounting standards harmonization through adoption and use ofIFRS
andfinancialreporting quality in Nigeria and to compare the effect ofpre
andpost IFRS adoption on financial reporting quality in PZ Cussons Pic. Primary
data source was adopted by the researcher through the distribution of a well
drafted 98 questionnaires upon which 95 were completelyfilledand returned.
Simple regression statistical technique was used in the analysis of the
hypotheses. Sequel to the analysis, it was revealed that the adoption ofIFRS
has a significant effect onfinancial reporting quality in PZ Cusson PLC, that
accounting standards harmonization has a significant effect on financial
reporting quality in PZ Cusson PLC and that there is a significant effect ofpre
andpost IFRS adoption onfinancial reporting quality in PZ Cusson PLC. The
research ended with thefollowing recommendations that top management, external
auditors and regulators being the keyplayers in standards, need to work
together to tighten compliance so that impact ofIFRS could be effectivelyfelt
more and that government and regulatory agencies should ensure that there is
availability of training facilities and material for professional accountants
in PZ Cusson on the concept ofIFRS and effectivefinancial reporting quality.
JOSEPH, U (2024). Effect of International Financial Reporting Standard on the Financial Reporting Quality in Nigeria (A Study Of PZ Cusson PLC Aba):- Nwamaghinna Joseph U. Mouau.afribary.org: Retrieved Sep 08, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-on-the-financial-reporting-quality-in-nigeria-a-study-of-pz-cusson-plc-aba-nwamaghinna-joseph-u-7-2
UGONNA, JOSEPH. "Effect of International Financial Reporting Standard on the Financial Reporting Quality in Nigeria (A Study Of PZ Cusson PLC Aba):- Nwamaghinna Joseph U" Mouau.afribary.org. Mouau.afribary.org, 26 Jul. 2024, https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-on-the-financial-reporting-quality-in-nigeria-a-study-of-pz-cusson-plc-aba-nwamaghinna-joseph-u-7-2. Accessed 08 Sep. 2024.
UGONNA, JOSEPH. "Effect of International Financial Reporting Standard on the Financial Reporting Quality in Nigeria (A Study Of PZ Cusson PLC Aba):- Nwamaghinna Joseph U". Mouau.afribary.org, Mouau.afribary.org, 26 Jul. 2024. Web. 08 Sep. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-on-the-financial-reporting-quality-in-nigeria-a-study-of-pz-cusson-plc-aba-nwamaghinna-joseph-u-7-2 >.
UGONNA, JOSEPH. "Effect of International Financial Reporting Standard on the Financial Reporting Quality in Nigeria (A Study Of PZ Cusson PLC Aba):- Nwamaghinna Joseph U" Mouau.afribary.org (2024). Accessed 08 Sep. 2024. https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-on-the-financial-reporting-quality-in-nigeria-a-study-of-pz-cusson-plc-aba-nwamaghinna-joseph-u-7-2