Influence of International Financial Reporting Standards Adoption on the Quality of Financial Reporting in Nigeria
Accounting — 2025, Undergraduate
This study examined the influence of International Financial Reporting Standards (IFRS) adoption on the quality of financial reporting in Nigeria. A descriptive survey design was adopted and structured questionnaires were administered to accountants and auditors in selected companies and audit firms in Lagos. Data were analysed using descriptive statistics and regression analysis. The findings revealed that IFRS adoption significantly improved relevance, comparability, and transparency of financial statements, although implementation costs and the complexity of standards posed challenges. The study also found disparities in the depth of understanding among preparers. It recommends sustained training, robust guidance, and consistent enforcement of reporting standards.