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European Journal of Accounting, Finance and Investment

(EJAFI)
ISSN (Print): 4242-405X | ISSN (Online): 3466-7037
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HomeEJAFI Vol. 7, No. 12 INTERNATIONAL FINANCIAL REPORTING STANDARDS AND F…
📄 Research Article EJAFI Vol. 7, No. 12 (2021)

INTERNATIONAL FINANCIAL REPORTING STANDARDS AND FINANCIAL INFORMATION DISCLOSURE OF LISTED DEPOSIT MONEY BANKS IN NIGERIAN EXCHANGE GROUP

EFUNTADE Alani Olusegun 1 & OLANIYAN Niyi Oladipo 2 & EFUNTADE Olubunmi Omotayo 2 & SOLANKE Festus Taiwo 2 & AKINOLA Akinwumi Olusegun 3
1 Federal university, Oye-Ekiti, P.M.B. 373, Oye-Ekiti, Ekiti State Nigeria.
2 Federal university, Oye-Ekiti, P.M.B. 373, Oye-Ekiti, Ekiti State Nigeria
3 Achievers University, Owo, Ondo State, Nigeria
European Journal of Accounting, Finance and Investment, Vol. 7, No. 12 (2021), pp. | DOI:
Open Access Peer Reviewed Research Article

Abstract

This study examined International Financial Reporting Standards (IFRS) and Financial Information Disclosure of listed deposit money banks in Nigerian Exchange Group. This research used questionnaire designed in two sections viz., respondent’s details, and data on disclosure and IFRS’ influences on financial disclosure of listed deposit money banks in Nigerian Exchange Group. Respondents for this study include Top Management Bankers, Management and Financial Accountants, Tax Consultants, Auditors, Portfolio Managers and Investors. This research sampled three hundred (300) respondents in Nigeria. Data collected were evaluated using descriptive and inferential statistics. Result showed that the extent of information disclosure is not statistically significant in listed deposit money banks in Nigerian Exchange Group and also that the influence of IFRS adoption on financial disclosure is not yet significantly sizeable. In conclusion, listed deposit money banks in Nigerian Exchange Group, should be more dedicated to financial information disclosure on areas relating to voluntary financial information, relations and transactions on corporate social responsibility, fair value recognition, measurement and evaluation, assessment of the nature and effects of business combinations and staff compensation, emoluments and fringe benefits. Overview of responses further revealed that the extent of firm’s disclosure in Nigeria is not yet satisfactory especially on issues relating to financial information disclosure on the foreign exchange transactions of listed deposit money banks in their financial statement, comprehensive report of the classification of assets and portfolio management and Interest incomes and interest expenses.
Keywords: International Financial Reporting Standards, IFRS, Financial Information Disclosure
📑 How to Cite This Article
APA 7th Edition:
EFUNTADE Alani Olusegun, OLANIYAN Niyi Oladipo, EFUNTADE Olubunmi Omotayo, SOLANKE Festus Taiwo, AKINOLA Akinwumi Olusegun (2021). INTERNATIONAL FINANCIAL REPORTING STANDARDS AND FINANCIAL INFORMATION DISCLOSURE OF LISTED DEPOSIT MONEY BANKS IN NIGERIAN EXCHANGE GROUP. European Journal of Accounting, Finance and Investment, 7(12), . https://doi.org/
Vancouver Style:
EFUNTADE Alani Olusegun, OLANIYAN Niyi Oladipo, EFUNTADE Olubunmi Omotayo, SOLANKE Festus Taiwo, AKINOLA Akinwumi Olusegun. INTERNATIONAL FINANCIAL REPORTING STANDARDS AND FINANCIAL INFORMATION DISCLOSURE OF LISTED DEPOSIT MONEY BANKS IN NIGERIAN EXCHANGE GROUP. Eur. J. Account. Finance Invest.. 2021;7(12):. DOI:
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