EFFECT OF REPORTING WITH IFRS ON THE QUALITY OF INFORMATION AVAILABLE TO THE USERS OF FINANCIAL STATEMENTS: A STUDY OF SELECTED DEPOSIT MONEY BANK IN NIGERIA.

EFFECT OF REPORTING
WITH IFRS ON THE QUALITY OF
INFORMATION AVAILABLE TO
THE USERS OF FINANCIAL
STATEMENTS: A STUDY OF
SELECTED DEPOSIT MONEY BANK
IN NIGERIA.
Idaka, Sunday Egbe
University Of Calabar, Calabar-Nigeria
&
Gabriel, Femi Goodwill
Department Of Accounting, University Of
Calabar, Nigeria
&
Inyang Ethel Ohanya
University Of Calabar, Calabar-Nigeria
ABSTRACT
The crux of the article is to examine the
effect of reporting with IFRS on the quality
of information available to the users of
financial statements: a study of selected
deposit money bank in Nigeria. In order to
accomplish the purpose of the study, two
research objectives were set, and the
hypotheses were tested using the relevant
economic parameters. The survey research
design was adopted, and 30 population size
from six banks were used. But for the
purpose of the analysis 27 sample size was
used. It is obvious that the results gotten
from the relevant parameters used for
analysis shows that strong and significant
relationship exist among the variables use
for the study. The variables tested with IFRS
are: Reporting with Common Language and
Recognition of Assets and Liabilities which
are major elements that the adoption of
IFRS is encouraging. Based on this, it was
recommended that firms should be
encourage to adheres to IFRSs requirements
in the preparation of their annual accounts
in order to help reduce information
Accounting and Finance Research Association
asymmetry. Also, regulatory bodies should
ensure strict compliance and defaulters
should be penalize to reduce incessant
financial scandals that have cause investors
to loss substantial amount of their worth to
reckless reporting.

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