Mandatory Adoption of International Financial Reporting Standards (IFRS) by Nigerian Listed Banks : Any Implication for Value Relevance ?

2017 ◽  
Vol 3 (1) ◽  
pp. 21-33 ◽  
Author(s):  
Kingsley Aderemi Adeyemo ◽  
Solabomi Omobola Ajibolade ◽  
Uwalomwa Uwuigbe
Keyword(s):  
Financial Reporting ◽  
Value Relevance ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Mandatory Adoption

The Need for Global Adoption of International Financial Reporting Standards

2017 ◽  
pp. 1-10
Author(s):  
Marianne Ojo
Keyword(s):  
Financial Reporting ◽  
Value Relevance ◽  
Accounting Information ◽  
International Financial Reporting Standards ◽  
Successful Implementation ◽  
Reporting Standards ◽  
Value Judgment ◽  
Financial Reporting Standards ◽  
Inaccurate Information ◽  
Market Crashes

Many questions have been raised as to whether financial accounting has become more conservative. The value relevance and qualitative characteristics of accounting information have become topics of particular relevance given the role they have assumed in influencing the value judgment of investors in deciding whether or not to invest in a certain market. Given the quality of accounting information – which has resulted in misleading and inaccurate information, it became evident, particularly following Enron's collapse, to adopt improved, enhanced, better quality standards: namely, International Financial Reporting Standards. This chapter considers the background culminating in the adoption of IFRS – as well as the need for the adoption of IFRS. It also highlights why the value relevance of accounting information is also of vital significance in certain emerging economies and why the successful implementation of IFRS in these jurisdictions may be crucial in restoring investor confidence – particularly in the aftermath of stock market crashes in these economies.

International Financial Reporting Standards and Value Relevance of Accounting Information: A Mult-Institutional Perspectives from Nigeria Quoted Firms

2018 ◽  
Vol 2 (2) ◽  
pp. 1-14
Author(s):  
Davies Stanley Diepiriye
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Value Relevance ◽  
Accounting Information ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reporting Standards ◽  
Oil And Gas Firms

This study examined the effect of International Financial Reporting Standards on value relevance of accounting information of quoted firms in Nigeria. The objective is to examine if International Financial Reporting Standards affect value relevance of accounting information. The study focus on the commercial banks, manufacturing firms, insurance, government agencies and the oil and gas firms, questionnaires were structured and administered to accountants and finance managers. The data analyses adopted was the simple percentages and correlation coefficient. The results found a coefficient of 85.1 %, R2   and adjusted R2   of 60.3% and 51.4 %. We conclude that there is significant relationship between International Financial Reporting Standard and value relevance of accounting information   of quoted firms in Nigeria. We therefore recommend full compliance to the International Financial Reporting Standard, audit firms should adopt fully the International Financial Reporting Standard and Nigerian accounting bodies such as Institute of Chartered Accountants of Nigeria and Association of National Accountants of Nigeria should endeavor to encourage the auditing firms on the relevance of adopting International Financial Reporting Standard.

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