THE INFLUENCE OF NIGERIA ACCOUNTING STANDARD BOARD IN FINANCIAL REPORTING
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
This study was carried out on the influence of Nigeria accounting standard board in financial reporting. To achieve this 5 research questions were formulated. Respondents were obtained from Institute of Chattered Accountants of Nigeria. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of the entire members of Institute of Chattered Accountants of Nigeria. In determining the sample size, the researcher purposively selected 63 respondents while 50 respondents were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage. The result of the findings reveals that; accounting standards have not improved the quality of financial reports in Nigeria, non-enforcement of strict compliance measures by the board to ensure conformity with the standards has negative effect on financial reporting in Nigeria, and the standards do not cover all areas of financial reporting and therefore, do not meet up with time challenges. Based on the above findings, the researcher recommended that in terms of compatibility and compliance, that Nigeria should fully adopt the IAS and IFRS as it covers so many areas not hitherto covered by the Nigerian Generally Acceptable Accounting Principles and enforce laws that will ensure compliance. Also on the areas that are not covered by the IFRS but covered by the SAS, the Federal Reporting Council of Nigeria should liaise with the International Accounting Standard Board on ways of adopting such into International Financial Reporting Standards after the normal due process, it is imperative that peer review programme among auditors must be taken seriously since they are a useful oversight mechanism and do provide information on difficulties encountered in the financial reporting and/or audit process (especially where the challenges are sector specific).
Related Project Materials
The Impact of Corporate Communication on Stakeholder Engagement in the Banking Sector: A Study of Lokoja Local Government Area, Kogi State
Chapter One: Introduction
The Impact of Regulatory Changes on IFRS Implementation in Nigeria
Background of the Study
The adoption and implementation of International Financial Reporting Standards (IFRS) in Nigeria has been influen...
IMPACT OF AUDITORS REPORTS ON COOPERATE GOVERNANCE
Abstract
This project examines the role of auditors report in corporate governance. The problems, challenges, prospects...
A Comparative Study of Crisis Management Strategies in Different Industries: A Case Study of Media and Telecom Firms in Taraba State
Background of the Study
Crisis management refers to the strategies and actions taken by organizations to respond to unexpected events tha...
An assessment of export diversification’s economic impact on reducing vulnerability in Nigeria: Evidence from the Ministry of Trade (2000–2020).
Background of the study:
Export diversification is increasingly recognized as a key strategy for reducing...
An Investigation of the Relationship Between Oncology Nurses’ Job Satisfaction and Quality of Patient Care at University of Calabar Teaching Hospital, Cross River State
Background of the Study
Oncology nursing is a specialized and emotionally demanding field that requires high levels of skill, knowledge,...
THE BACTERIOLOGICAL ANALYSIS OF WATER IN HALLS OF RESIDENCE IN UNIVERSITY OF BENIN
INTRODUCTION
Water is essential and inextricably linked to life; without water, there is no life. This...
The Effect of Constitutional Law on the Autonomy of State Legislatures: A Case Study of Gusau Local Government Area, Zamfara State
Chapter One: Introduction
1.1 Background of the Study
The autonomy of state legislatures is a ke...
The Effect of Physical Activity on Cardiovascular Disease Prevalence in Sokoto State
Background of the Study
Cardiovascular diseases (CVDs) are the leading cause of mortality worldwide, accounting for over 30% of global de...
A STUDY ON THE IMPACT OF BUDGETARY CONTROLS ON THE PERFORMANCE OF AN ORGANIZATION (A case study of Fidelity Bank plc)
Background of the study
Following the uncertainties prevailing in the Nigerian business environment today, managers and...
