Effect Of International Financial Reporting Standards (IFRS) On The Quality Of Financial Statemnet: A Study Of First Bank PLC:- Ozor Chijindu C
ABSTRACT
This
study is to examine the effect ofinternationalfinancial reporting standard on
quality offinancial Statements in Nigeria. The specific objectives are to; To
assess the effect ofinternationalfinancial reporting standards on timeliness
offinancial statement, examine the effect of international financial reporting
standards on relevance offinancial statement, ascertain the effect of
international financial reporting standard on reliability offinancial
statement. To achieve the objectives of the study survey research design was
adopted. To test the hypotheses, simple regression analysis was used. The
findings revealed that IFRS adoption significantly influence timeliness
offinancial statement, there is no significant relationship between IFRS
adoption and relevance offinancial statement, IFRS adoption has a sign.ifi.cant
effect on reliability offinancial statement. The study recommends that
Companies should adopt full sei ofIFRS in the preparation of theirfinancial
statement as it makes thefinancial statement to be readily available on time.
Since timeliness is one of the key information qualities, the financial
reporting council should be geared towards ensuring that there is proper
monitoring and supervision ofCompanies to adoptfull set ofIFRS in preparation
of financial statement, There shoidd be adequate training for preparers of
financial statement on IFRS application, Stiffpenalty should be imposed on noncompliance
with IFRSs as stipulated by the International Accounting Standard Boards.
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OZOR, C (2024). Effect Of International Financial Reporting Standards (IFRS) On The Quality Of Financial Statemnet: A Study Of First Bank PLC:- Ozor Chijindu C. Mouau.afribary.org: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standards-ifrs-on-the-quality-of-financial-statemnet-a-study-of-first-bank-plc-ozor-chijindu-c-7-2
CHRISTOPHER, OZOR. "Effect Of International Financial Reporting Standards (IFRS) On The Quality Of Financial Statemnet: A Study Of First Bank PLC:- Ozor Chijindu C" Mouau.afribary.org. Mouau.afribary.org, 23 Jul. 2024, https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standards-ifrs-on-the-quality-of-financial-statemnet-a-study-of-first-bank-plc-ozor-chijindu-c-7-2. Accessed 24 Nov. 2024.
CHRISTOPHER, OZOR. "Effect Of International Financial Reporting Standards (IFRS) On The Quality Of Financial Statemnet: A Study Of First Bank PLC:- Ozor Chijindu C". Mouau.afribary.org, Mouau.afribary.org, 23 Jul. 2024. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standards-ifrs-on-the-quality-of-financial-statemnet-a-study-of-first-bank-plc-ozor-chijindu-c-7-2 >.
CHRISTOPHER, OZOR. "Effect Of International Financial Reporting Standards (IFRS) On The Quality Of Financial Statemnet: A Study Of First Bank PLC:- Ozor Chijindu C" Mouau.afribary.org (2024). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standards-ifrs-on-the-quality-of-financial-statemnet-a-study-of-first-bank-plc-ozor-chijindu-c-7-2