IDEAS home Printed from https://ideas.repec.org/a/src/jafeec/v8y2022i3p445-458.html
   My bibliography  Save this article

Compliance Level with IFRS 7 by Deposit Money Banks: Whither Nigeria

Author

Listed:
  • Bakare, Taophic Olarewaju
  • Aliyu, Almustapha Alhaji
  • Abdulkadir, Mustapha Jibrin

Abstract

Purpose: The study examines the compliance level with IFRS 7 by deposit money banks in Nigeria for the period between 2017-2020.Design/Methodology/Approach: The study adopts an un-weighted disclosure index method to test the two hypotheses and using Qualitative Grading System (QGS) to rank the level of compliance with the aid of explorative research design.Findings: The study found that in average, the over-all compliance by DMBs at commencement year stood at 51.04% and this implies that as at the commencement year DMBs weakly complied with the requirements of IFRS 7.Implications/Originality/Value: The study concluded that though DMBs in Nigeria do not totally comply with the provisions of IFRS 7 throughout the study period yet, there have been significant improvements in the level of compliance with the standard disclosure in the annual reports of DMBs in Nigeria. It’s therefore recommending that banks should strive to ensure full compliance with the standards as this will add more confidence in the economy. This must be done with the enforcement of regulatory bodies. The FRCN should intensify its mandate to ensure banks strictly comply with the provisions of IFRS.

Suggested Citation

  • Bakare, Taophic Olarewaju & Aliyu, Almustapha Alhaji & Abdulkadir, Mustapha Jibrin, 2022. "Compliance Level with IFRS 7 by Deposit Money Banks: Whither Nigeria," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 8(3), pages 445-458, September.
    • Handle: RePEc:src:jafeec:v:8:y:2022:i:3:p:445-458
    DOI: http://doi.org/10.26710/jafee.v8i3.2390
    as

    Download full text from publisher

    File URL: https://publishing.globalcsrc.org/ojs/index.php/jafee/article/view/2390/1504
    Download Restriction: no
    File URL: https://libkey.io/http://doi.org/10.26710/jafee.v8i3.2390?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:src:jafeec:v:8:y:2022:i:3:p:445-458. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Rabia Rasheed (email available below). General contact details of provider: https://edirc.repec.org/data/csrcmpk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.