ADOPTION OF IFRS AND FINANCIAL STATEMENTS EFFECTS: The Perceived Implications on FDI and Nigeria Economy
Year: 2012
Type: article
Study design: Observational Study
Abstract: The IFRS adoption is already an issue of global relevance among various countries of the world due to the quest for uniformity, reliability and comparability of financial statements of companies. This research paper investigated the effect of IFRS adoption on Foreign Direct Investment and Nigeria economy. The population consists of quoted companies in Nigeria Stock Exchange (Preparers) and Investment Analysts (Users). Stratified Random sampling method was adopted and primary data used to elicit responses with 123 structured questionnaires administered. Findings showed that IFRS has been adopted in Nigeria but only fraction of companies has implemented with deadline for the others to comply. It is perceived that IFRS implementation will promote FDI inflows and economic growth. It was recommended that all stakeholders should endeavour to have full implementation to reap benefits of the global GAAP and principle - based standards.
Author: Kenneth Enoch Okpala
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W2185484129