The Role of International Financaial Reporting Standards (ifrs) on the Quality of Financial Reporting.

Student: Francis Ikpi Ofem (Project, 2025)
Department of Accounting
University of Calabar, Calabar, Cross River State

Abstract

The study examined the impacts of IFRS (International Financial Reporting Standards) adoption on the quality of financial reporting. Quality of financial reporting was represented by accrual reporting, earnings quality reporting and accounting Conservatism. The sample of the study comprised three quoted firms in commercial industry. Data was obtained from the financial reports of selected firms between 2014 and 2023, and the panel least square technique, precisely the fixed- effect model was adopted for the analysis of data. The results indicated that working capital variables explained 61.1 % variation in firm quality of reporting. Furthermore, accrual reporting, earnings quality and account conservatism had positively impacted by the adoption of IFRS. Furthermore, the independent variables exerted significant influence on the quality of financial reporting of selected commercial firms in Nigeria within the periods estimated. The study suggested amongst others that firms should strive to strengthen their financial reporting practices and enhance the quality of their financial information in line with the requirements of IFRS. This will ultimately benefit stakeholders and contribute to a more transparent and reliable financial reporting environment. (Word count: 200).

Keywords
Financial accounting political asymmetry standards stakeholders international.
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