Adoption Of International Financial Report Standard [IFRS] And The Quality Of Corporate Financial Reports Of Quoted Companies

Abstract

- Introduction: The quality of financial reporting implies how well a standard can detect and document any material misstatements in corporate financial reports This, gives need to a standard to follow which is meant to give accurate and meaningful information of the sales and the nature, timing and uncertainties of the cash flow, to those who need it. However, IFRS has been widely speculated by different scholars and practitioners to be capable of bringing about improved quality in financial reportage (Irvine & Lucas, 2016) but most corporate firm found it difficult to blend with this principles due to their inability to comprehend the reporting standard which demand thorough understanding. As a result of this incomprehensiveness, this study evaluate the influence of IFRS adoption on quality of financial reporting on selected quoted companies in Nigeria Methods : the study adopted primary and secondary data by using both expost facto design and questionnaire where data for discretionary accruals were extracted from 5selected quoted companies 2009-2014 while questionnaire provide information to measure 50 user perceptions towards the influence of IFRS adoption on the quality of financial reports. The results showed an insignificant mean differences between pre and post adoption of IFRS