The Impact of International Financial Reporting Standards ( Ifrs ) Adoption on Financial Reporting Practice in the Nigerian Banking Sector

2015 ◽  
Vol 9 (2) ◽  
pp. 169-184 ◽  
Author(s):  
Matthew Adeolu Abata
Keyword(s):  
Financial Reporting ◽  
Banking Sector ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Reporting Practice ◽  
The Impact ◽  
Nigerian Banking

scholarly journals Adoption of International Financial Reporting Standards (IFRS) and Assets Quality in the Nigerian Banking Sector: The Fundamental Effect Approach

2018 ◽  
Vol 4 (2) ◽  
pp. 11
Author(s):  
Anthony Nzeribe Nwaubani ◽  
Cyprian Okey Okoro
Keyword(s):  
Financial Reporting ◽  
Banking Sector ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Annual Reports ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Nigerian Banking

The main purpose of this work is to examine the effect of the adoption of international financial reporting standards (IFRS) on assets quality in the Nigerian banking sector. Specifically the study sought to determine the effect of the adoption on asset quality, loan volume, , net interest income and profit after tax of deposit money banks listed on the Nigerian Stock Exchange.  The adopted research design is causal-comparative. Secondary data on ten out of sixteen listed deposit money banks on the Nigerian Stock Exchange by June 2018 were used. The banks which were selected via judgmental sampling technique were those whose annual financial statements for the immediate year before IFRS adoption year were available and contained figures under Nigerian GAAP/SAS and IFRS-equivalent. The data which were analyzed using paired student t-test approach were sourced from 2011 and 2012 annual reports of the selected banks except Zenith bank for which only 2011 annual financial reports were used..  The variables of interest were grouped under Nigerian GAAP (SAS) and IFRS. Findings revealed that overall, the IFRS adoption indicates negative insignificant effect on assets quality of deposit money banks in Nigeria. The study therefore, recommends inter-alia that Financial Reporting Council of Nigeria  should  partner with the CBN to provide clarity on areas of regulatory hindrance to full and effective implementation of the IFRS with regular. 

Challenges of International Financial Reporting Standards (IFRS) Adoption in Libya

2014 ◽  
Vol 1 (1) ◽  
pp. 390 ◽  
Author(s):  
Mohamed Abulgasem Zakari
Keyword(s):  
Developing Country ◽  
Financial Reporting ◽  
Accounting Education ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Economic Issues ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
The Impact ◽  
Ifrs Implementation

This study investigates the challenges that face implementing of International Financial Reporting Standards (IFRS) by Libyan firms. In particular, this paper analyses the effect of legal, economic, accounting education and culture structures on adopting of IFRS in the Libyan context. A questionnaire was used to collect data regarding the effect of some selected challenges on IFRS adoption in Libya. The results of the study indicate that IFRS adoption by Libyan companies has faced some obstacles such as accounting education and economic issues. This research extends accounting literature by studying the challenges of IFRS in Libya (a developing country), focusing on the impact of legal, accounting education, economic and culture in IFRS implementation.

scholarly journals The impact of international financial reporting standards on cost of capital

2016 ◽  
Vol 14 (1) ◽  
pp. 458-465 ◽  
Author(s):  
Krismiaji ◽  
Adi Prabhata
Keyword(s):  
Financial Reporting ◽  
Cost Of Capital ◽  
Emerging Market ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
The Cost ◽  
The Impact ◽  
Ifrs Implementation

This paper discusses empirical research examining the impact of International Financial Reporting Standards (IFRS) on cost of capital. Using a sample of 1.173 observations of publicly listed companies on the Indonesian Stock Exchange for the fiscal year that ends on December 31, 2006 through 2013, this research finds evidence of positive relationship between IFRS implementation and cost of capital. This means that in post adoption period, the cost of capital increase. This result is inconsistent with investor’s expectation, in which IFRS implementation will reduce information asymmetry which in turn decreases cost of capital. When analysis is decomposed into per sector’s analysis, the results are inconsistent. For some sectors, IFRS adoption does not have impact on the cost of capital, whereas for the others IFRS adoption positively affect the cost of capital. This study provides further evidence on the economic consequence of IFRS implementation on cost of capital using data from emerging market with low-level coercion which is Indonesian Capital Market.

scholarly journals The Impact of International Financial Reporting Standards on Financial Performance

2018 ◽  
Vol 1 (1) ◽  
pp. 20
Author(s):  
Adedoyin Isola Lawal ◽  
Yinka D. Olufemi ◽  
IfeOluwa Adewuyi ◽  
Olubukoye Opeyemi Oye
Keyword(s):  
Financial Performance ◽  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Quality Reporting ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Earnings Per Share ◽  
Foreign Countries ◽  
The Impact

Globalization, capital market crash and the Enron’s case led the accounting profession to insist on the need for a single set of high quality reporting standards. International Financial Reporting Standards (IFRS) were first adopted in 2005 by EU countries while Nigeria agreed to adopt in 2012. The question is: How does IFRS adoption improve the monetary relevance of accounting information? Several studies have explored the monetary relevance of IFRS adoption; however, they are based on foreign countries while Nigerian researches do not contain empirical evidence as they are mostly theoretical. This study therefore seeks to investigate the effect of IFRS adoption on financial performance. The study used correlation research design and data on Earnings per Share (EPS), Change in Earnings per Share (CEPS), Book Value per Share (BVPS) and net profit margin

scholarly journals Determinants of Voluntary International Financial Reporting Standards Adoption in Poland

2020 ◽  
Vol 31 (2) ◽  
pp. 155-168
Author(s):  
Marcin Kędzior ◽  
Malgorzata Cyganska ◽  
Dimitrios Syrrakos
Keyword(s):  
Financial Reporting ◽  
Relevant Literature ◽  
Supervisory Board ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Board Characteristics ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
International Investors ◽  
The Impact

The paper examines the determinants of voluntary International Financial Reporting Standards (IFRS) adoption in Poland. In doing so, it empirically confirms the impact of diverse CEO and supervisory board characteristics on voluntary IFRS adoption. The paper focuses on  446 publicly traded production companies from Poland. The analysis is based on logistic regression analysis. The empirical investigation  confirms the impact on voluntary IFRS adoption of such factors as company size, international investors, international supervisory board, number of supervisory board members, CEO nationality. The paper  contributes to the assessment of  voluntary IFRS adoption determinants, by presenting for the first time CEO and supervisory board characteristics and their impact on voluntary International Financial Reporting Standards (IFRS) adoption, and the determinants of IFRS adoption from Central and Eastern Europe. The paper enhances  existing knowledge of voluntary IFRS adoption by incorporating  new CEO and supervisory board characteristics, thus closing a gap in the relevant literature. The results of the paper are significant from the supervisor’s perspective, the quality of financial statements and the effectiveness of corporate governance systems.

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