International Financial Reporting Standards (ifrs) Adoption In Nigerian Banks

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ABSTRACT
Over the years mismanagement of public funds and improper standards for financial accountability has been a reoccurring decimal in various parts of the world Africa and Nigeria inclusive. 
It was against this backdrop that Nigeria adopted international financial reporting standard (IFRS) in January, 2012 after several years of negotiations.
This study therefore examined the extent to which adoption of international financial reporting standards (IFRS) can enhance financial reporting system in Nigerian banking institutions.
The population of the study comprised 160 banking officials including accountants, auditors, cashiers etc.
A survey design was adopted for this study and the mean scores and Z-Test was used in analyzing the data generated for the study. The findings indicated that there are a lot of accounting areas the accountants and auditors should focus in discharging their duties. And as well a lot of implications are also involved. Mostly accountants, auditors, cahiers, financial analyst, etc. are the personnel involve in the IFRS financial instruments. 
Giving the various existing literatures and articles by financial experts and authors reviewed in this study, it was recommended among others that the curricula of other financial institutions should be reviewed to incorporate IFRS, so that accountants, auditors, cashiers etc. will be acquainted with IFRS guidelines and standards. This will as well lead to proper fund management and accountability of funds in public and private institutions.

TABLE OF CONTENTS
ABSTRACT ------------------------------------------------------------------------------------------- 3

INTRODUCTION ------------------------------------------------------------------------------------ 4

1.1 OBJECTIVE OF THE STUDY ---------------------------------------------------------------- 6
1.2 PROBLEM STATEMENT --------------------------------------------------------------------- 6
1.3 RESEARCH QUESTIONS --------------------------------------------------------------------- 7
1.4 HYPOTHESES ----------------------------------------------------------------------------------- 7
REVIEW OF RELATED LITERATURE --------------------------------------------------------- 8
2.1 FINANCIAL REPORTING REGULATIONS AND REGULATORS IN NIGERIA     8
2.2 EMPIRICAL REVIEW -------------------------------------------------------------------------- 9
2.3 THEORETICAL FRAMEWORK ---------------------------------------------------------------10
2.4 RESEARCH PROCEDURE ----------------------------------------------------------------------11
PRESENTATION AND ANALYSIS OF DATA --------------------------------------------------12

3.1 DATA ANALYSIS ---------------------------------------------------------------------------------12
3.2 TEST OF HYPOTHESES -------------------------------------------------------------------------16
FINDINGS -----------------------------------------------------------------------------------------------17
4.1 DISCUSSION OF FINDINGS --------------------------------------------------------------------18
4.2 CONCLUSIONS ------------------------------------------------------------------------------------19
4.3 RECOMMENDATION ----------------------------------------------------------------------------19
REFERENCES --------------------------------------------------------------------------------------20
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(2014, 10). International Financial Reporting Standards (ifrs) Adoption In Nigerian Banks.. ProjectStoc.com. Retrieved 10, 2014, from https://projectstoc.com/read/3962/international-financial-reporting-standards-ifrs-adoption-in-nigerian-banks-6593
"International Financial Reporting Standards (ifrs) Adoption In Nigerian Banks." ProjectStoc.com. 10 2014. 2014. 10 2014 <https://projectstoc.com/read/3962/international-financial-reporting-standards-ifrs-adoption-in-nigerian-banks-6593>.
"International Financial Reporting Standards (ifrs) Adoption In Nigerian Banks.." ProjectStoc.com. ProjectStoc.com, 10 2014. Web. 10 2014. <https://projectstoc.com/read/3962/international-financial-reporting-standards-ifrs-adoption-in-nigerian-banks-6593>.
"International Financial Reporting Standards (ifrs) Adoption In Nigerian Banks.." ProjectStoc.com. 10, 2014. Accessed 10, 2014. https://projectstoc.com/read/3962/international-financial-reporting-standards-ifrs-adoption-in-nigerian-banks-6593.

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