0704-883-0675     |      dataprojectng@gmail.com

The Role of Professional Accounting Bodies in Facilitating IFRS Adoption in Nigeria

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style:
  • Recommended for :
  • NGN 5000

Background of the Study
Professional accounting bodies play a crucial role in shaping the accounting profession and driving the adoption of global standards such as IFRS. In Nigeria, bodies such as the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN) have been instrumental in promoting IFRS adoption since its introduction in 2012.
These organizations contribute to IFRS adoption through advocacy, training, and capacity-building initiatives. By equipping accountants with the necessary knowledge and skills, they ensure compliance with IFRS and enhance the quality of financial reporting. However, challenges such as resource constraints, inadequate coordination, and resistance to change hinder the effectiveness of these efforts.
Understanding the role of professional accounting bodies in IFRS adoption is critical for developing strategies to address these challenges and improve compliance. This study examines the contributions and limitations of accounting bodies in facilitating IFRS adoption in Nigeria.

Statement of the Problem
Despite efforts by professional accounting bodies, IFRS adoption in Nigeria faces challenges such as inadequate training, limited awareness, and resistance from stakeholders. This study investigates the role of these bodies in addressing these challenges and facilitating successful IFRS adoption.

Aim and Objectives of the Study
The aim of this study is to evaluate the role of professional accounting bodies in facilitating IFRS adoption in Nigeria. Specifically, the objectives are:

  1. To examine the contributions of accounting bodies to IFRS training and advocacy in Nigeria.

  2. To identify challenges faced by accounting bodies in promoting IFRS adoption.

  3. To propose strategies for enhancing the role of accounting bodies in facilitating IFRS adoption.

Research Questions

  1. How do professional accounting bodies contribute to IFRS training and advocacy in Nigeria?

  2. What challenges do accounting bodies face in promoting IFRS adoption in Nigeria?

  3. What strategies can enhance the role of accounting bodies in facilitating IFRS adoption?

Research Hypotheses

  1. Professional accounting bodies significantly contribute to IFRS training and advocacy in Nigeria.

  2. Challenges faced by accounting bodies significantly hinder IFRS adoption in Nigeria.

  3. Enhanced strategies by accounting bodies significantly improve IFRS adoption in Nigeria.

Significance of the Study
This study highlights the critical role of professional accounting bodies in IFRS adoption, providing recommendations to strengthen their contributions. The findings will benefit regulators, policymakers, and stakeholders in the accounting profession.

Scope and Limitation of the Study
The study focuses on the role of professional accounting bodies in facilitating IFRS adoption in Nigeria from 2012 to 2025. It explores their contributions, challenges, and strategies. Limitations include variations in effectiveness across organizations and limited access to internal data.

Definition of Terms

  • Professional Accounting Bodies: Organizations that regulate and promote the accounting profession, such as ICAN and ANAN.

  • IFRS Adoption: The process of transitioning to International Financial Reporting Standards in preparing financial statements.

  • Advocacy: Efforts to promote awareness and acceptance of IFRS among stakeholders.





Related Project Materials

Impact of TIN Adoption on Revenue in Azare LGA

Background of the Study
The Taxpayer Identification Number (TIN) system is designed to streamline tax collection and improv...

Read more
The Impact of Corporate Governance on Financial Reporting Quality: A Case Study of Dangote Cement Plc

Background of the Study

Corporate governance is a system of rules, practices, and processes by which a company is direct...

Read more
THE ROLE OF GATEKEEPING IN NEWS PRODUCTION AND DISSEMINATION

Abstract

Before information can be disseminated to the public, it undergoes strict examination by certain people. These people are known...

Read more
AN APPRAISAL OF THE ASCERTAINMENT OF APPLICABLE LAW OF TORTS IN CONFLICT OF LAWS

ABSTRACT

This study entitled, “An Appraisal of the Ascertainment of Applicable Law of Torts in Conflict of Laws” aimed at asc...

Read more
TIME SERIES ANALYSIS OF PATIENT ATTENDANCE

EXCERPT FROM THE STUDY

Forecasting census for example, in Teaching Hospital is particularly challenging due to limited a...

Read more
FEDERALISM AND REVENUE ALLOCATION IN NIGERIA: A CRITICAL EVALUATION OF THE DERIVATION PRINCIPLE

ABSTRACT

The Nigerian federation has been enmeshed in contradictions, paradoxes, controversies and crises. These are sub...

Read more
APPLICATION OF GEOGRAPHIC INFORMATION SYSTEM TECHNOLOGY IN ANALYSING URBAN DENSIFICATION AND HOUSING MARKET IN BIDA, NIGERIA

ABSTRACT

Urban densification is as a result of increase in the level of urbanisation of a limited area which causes challenges in the hou...

Read more
INFLUENCE OF SILICA-NANO PARTICLES ON PROPERTIES OF RICE HUSK ASH AND CALCIUM CARBIDE WASTE BINDER BASEDMORTAR

ABSTRACT

In the recent time effort has been made to replace Portland Cement (PC) wholly, thus producing an alternative binder. This innov...

Read more
The Effect of IFRS on Trade Balance in Nigeria

Background of the Study

International Financial Reporting Standards (IFRS) have become the global benchmark for financia...

Read more
Digital Media as a Tool for Civic Activism in Bida Local Government Area, Niger State

Chapter One: Introduction

1.1 Background of the Study

Share this page with your friends




whatsapp