The Impact of Cultural Factors on the Implementation of Global Accounting Standards (ifrs)in Nigeria

Student: Tobi Esther Olayiwola (Project, 2025)
Department of Accountancy
Osun State Polytechnic, Iree, Osun State

Abstract

This research work examined the Impoct of Cultural factors on the implementation of global accounting standards (URS) in Nigeria. The objective of the study is to determine the lfluence of religion diferences on the implementation of International Financial Reporting Standard; and to establish the impact of language differences on the implementation of International Financial Reporting Standard. The methodology adopted is survey method and primary data gathered through the use of questionnaire was used. The data were amalyced using descriptive statisties while Statistical Package for Social Sciences (SPSS) version 23 was used Findings shows that religion differences have no significant impact on the implementation of International Financial Reporting Standard: and that language differences have no significant impact on the implementation of International Financial Reporting Standard. Based on results, the study recommend the use of other instruments to capture the cultural dimensions, such as the Globe, which contemplates nine factors to capture the cultural dimension; and the translation into the Nigerian language and the cultural adaptation of the instrument to capture accounting pructices. In this sense, other scalex should be used to capture the accounting practices, or a specific Nigerian scale should be constructed

Keywords
Cultural factors IFRS International Financial Reporting Standards Nigeria accounting standards religion differences language differences financial reporting SPSS globalization Nigerian accounting practices cultural adaptation.
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