ABSTRACT

The issue ofIFRS has been researched but emphasis has been placed on its effect on quality of financial report than performance of the firm. This has led to this research work aimed at examining the effect ofIFRS adoption on the financial performance oflisted firms in Nigeria. This research formulatedfour specific objectives such as; examining the effect ofIFRS adoption on profit after tax oflistedfirms in Nigeria, ascertain the effect ofIFRS adoption on earnings per share oflistedfirms in Nigeria, examine the effect ofIFRS adoption on return on assets oflisted firms in Nigeria and determine the effect ofIFRS adoption on return on equity oflistedfirms in Nigeria. Thus, research questions and hypothesis was structured in accordance with the various specific objectives. This study specifically restricts itselfto brewery sector on the Nigerian stock exchange. It employs the ex-post factor research design and adopts a cross sectional examination ofthe sector and judgmental sampling method is used in selecting the sample for the study ofwhich 3 listed brewery companies were selected. It adopts a secondary source of data. The analysis made the following findings, that Adoption of IFRS has brought about a statistical significant impact on the profit after tax of listed brewery companies in Nigeria. It revealed that IFRS adoption has no significant impact on earnings per share of the listed brewery firms in Nigeria. The research made the following recommendations; that, brewery companies should comply and adhere strictly to IFRS in the preparation of their financial statement in order to increase their profitability and attract more foreign investors that will boast profit performance of the companies. The result shows that IFRS adoption has no significant effect on earnings per share. This could be as a result oflocal investor having poor knowledge in the enhanced reporting that IFRS adoption has brought on board. For that reason, brewery companies should ensure that the reported earnings arefully disclosed in line with IFRS such that the changes in earnings disclosure will befelt.