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Effectiveness of International Financial Reporting Standard Enforcement in Nigeria

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  • Innocent Okwuosa

    (Department of Accounting, Caleb University)

  • Oluwole Dotun Peter

    (Department of Accounting, Caleb University)

Abstract

The general belief in accounting literature is that the adoption and application of IFRS in developing countries will enhance the quality of financial statement information including its reliability and comparability (Ballas, Skoutela and Tzovas, 2010). However, it is also argued that no matter how high the quality of the accounting standards adopted, comparable and high-quality accounting information will not be achieved without strict enforcement of these standards (White house, 2012). IFRS is “a set of accounting rules, principles and procedures that aim to create a common financial reporting platform with the objective of bringing transparency, accountability, efficiency to financial markets, harmonization of accounting practices and enforcement.

Suggested Citation

  • Innocent Okwuosa & Oluwole Dotun Peter, 2024. "Effectiveness of International Financial Reporting Standard Enforcement in Nigeria," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 11(3), pages 798-843, March.
    • Handle: RePEc:bjc:journl:v:11:y:2024:i:3:p:798-843
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