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Questing For A Uniform Financial Reporting Date In Nigeria

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  • Ndidi Asien, Etumudon

    (Admiralty University of Nigeria)

Abstract

This paper examines two additional contributing actor-groups that could be useful in capturing financial reporting delay as well as models eight fiscal year-end regimes. The paper uses descriptive statistics to analyse the reporting dates of273 listed non-financial companies overa three-yearperiod, from 2015–2017. We find the gaps of 30 December fiscal year-end to be shorter than those of other fiscalyear-ends, andfindthatthere are clear-cutmodalreporting days ordates adoptedbyfollowers of 30 December fiscal year-end while there are none for other fiscal year-ends. More than for any other fiscal year-end regimes, 31 December fiscal year-end filers are more likely to comply with regulatory reporting deadline in Nigeria. Based on these findings, there is a need fora uniform (orat least, close to a uniform) financial reporting period for listed non-financial companies in Nigeria. We recommend that relevant bodies should consider requiring listed non-financial companies in Nigeria to migrate to 31 December fiscal year-end, since there are less dispersions in reporting days/dates of the fiscal year-end

Suggested Citation

  • Ndidi Asien, Etumudon, 2019. "Questing For A Uniform Financial Reporting Date In Nigeria," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 8(2), pages 142-157, September.
    • Handle: RePEc:ris:ijafic:0028
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    References listed on IDEAS

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    Cited by:

    1. Khadijah Adeola Idowu & Jamiu Olakunle Tijani, 2020. "Audit Reporting Lag and Regulatory Compliance in Listed Financial Services Firms in Nigeria: A Cross-Sectoral Evaluation," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(3), pages 163-173, September.

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