Background of the Study
Environmental issues are increasingly at the forefront of global economic and social policies. As businesses strive to manage their environmental impact, transparent reporting of environmental costs becomes crucial. International Financial Reporting Standards (IFRS) provide a framework for comprehensive and standardized reporting, which can enhance environmental cost disclosure. In Nigeria, where environmental concerns like oil spills and deforestation are prevalent, the role of IFRS in promoting environmental accountability is of critical importance.
Statement of the Problem
Despite the global emphasis on environmental sustainability, Nigerian companies often fail to adequately disclose environmental costs, leading to limited accountability and stakeholder trust. Poor compliance with IFRS in environmental reporting further exacerbates the issue. This study investigates the extent to which IFRS compliance affects environmental cost disclosure in Nigeria.
Aim and Objectives of the Study
Aim:
To evaluate the effect of IFRS compliance on environmental cost disclosure in Nigerian firms.
Objectives:
To analyze the level of environmental cost disclosure among Nigerian firms.
To examine the relationship between IFRS compliance and environmental reporting practices in Nigeria.
To identify challenges faced by Nigerian companies in integrating IFRS standards into environmental cost disclosure.
Research Questions
What is the level of environmental cost disclosure among Nigerian firms?
How does IFRS compliance influence environmental reporting practices in Nigeria?
What challenges hinder Nigerian companies from integrating IFRS standards into environmental cost disclosure?
Research Hypotheses
There is a significant relationship between IFRS compliance and environmental cost disclosure.
Nigerian firms face substantial challenges in adopting IFRS for environmental reporting.
Significance of the Study
This study highlights the importance of IFRS compliance in fostering transparency in environmental cost reporting. It provides insights for policymakers, companies, and investors to promote sustainable practices.
Scope and Limitation of the Study
The study focuses on Nigerian firms operating in environmentally sensitive industries, such as oil and gas and manufacturing, from 2015 to 2023. Limitations include data availability and variations in environmental reporting practices.
Definition of Terms
Environmental Cost Disclosure: Reporting expenses incurred to manage environmental impact.
IFRS Compliance: Adherence to international standards in financial reporting.
Sustainability: Meeting current needs without compromising future generations’ ability to meet theirs.
Chapter One: Introduction
1.1 Background of the Study...
Chapter One: Introduction
1.1 Background of the Study
1.1 Background of the Study
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