IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks
Development banks were designed to achieve the government’s economic priorities that were not adequately addressed by the banking industry. Studies, however, show that the activities of some development banks in Nigeria have not been as impacting as expected for different reasons, which include lack...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2022-12-01
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| Series: | Cogent Business & Management |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2022.2139213 |
| _version_ | 1797988711575584768 |
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| author | Ayodeji T. Ajibade Nelson Okutu Folorunsho Akande Jerry D. Kwarbai Ifayemi M. Olayinka Ayooluwa Olotu |
| author_facet | Ayodeji T. Ajibade Nelson Okutu Folorunsho Akande Jerry D. Kwarbai Ifayemi M. Olayinka Ayooluwa Olotu |
| author_sort | Ayodeji T. Ajibade |
| collection | DOAJ |
| description | Development banks were designed to achieve the government’s economic priorities that were not adequately addressed by the banking industry. Studies, however, show that the activities of some development banks in Nigeria have not been as impacting as expected for different reasons, which include lack of access to finance. This study investigated the impact of International Financial Reporting Standards (IFRS) adoption and corporate governance on the faithful representation of the financial reporting quality in Nigeria’s development banks. The study adopted a survey research design. The study adopted a convenience sampling technique. The validity and reliability test of the instrument was conducted on the variables. The reliability test was analyzed using Cronbach’s alpha test, and all variables were greater than 0.7, indicating a good construct. The study used descriptive and inferential (multiple linear regression) data analysis methods. The study’s findings revealed that IFRS adoption and Corporate governance significantly affect the faithful representation of financial reporting of Nigeria’s Development Banks. The study concluded that IFRS adoption and corporate governance significantly affect the faithful representation of the financial reporting quality in Nigeria’s development banks. The paper recommended that the management of the development banks should endeavor to take advantage of the opportunities presented by the IFRS adoption to improve their reporting to promote uniformity and transparency. |
| first_indexed | 2024-04-11T08:08:27Z |
| format | Article |
| id | doaj.art-ba62f7b3ddc64fa4a85f765f51a9ceaf |
| institution | Directory Open Access Journal |
| issn | 2331-1975 |
| language | English |
| last_indexed | 2024-04-11T08:08:27Z |
| publishDate | 2022-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj.art-ba62f7b3ddc64fa4a85f765f51a9ceaf2022-12-22T04:35:27ZengTaylor & Francis GroupCogent Business & Management2331-19752022-12-019110.1080/23311975.2022.2139213IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banksAyodeji T. Ajibade0Nelson Okutu1Folorunsho Akande2Jerry D. Kwarbai3Ifayemi M. Olayinka4Ayooluwa Olotu5Department of Accounting, Babcock University, Ilishan-Remo, NigeriaDepartment of Accounting, Babcock University, Ilishan-Remo, NigeriaDepartment of Finance, Babcock University, Ilishan-Remo, NigeriaDepartment of Accounting, Babcock University, Ilishan-Remo, NigeriaDepartment of Accounting, Babcock University, Ilishan-Remo, NigeriaDepartment of Accounting, Babcock University, Ilishan-Remo, NigeriaDevelopment banks were designed to achieve the government’s economic priorities that were not adequately addressed by the banking industry. Studies, however, show that the activities of some development banks in Nigeria have not been as impacting as expected for different reasons, which include lack of access to finance. This study investigated the impact of International Financial Reporting Standards (IFRS) adoption and corporate governance on the faithful representation of the financial reporting quality in Nigeria’s development banks. The study adopted a survey research design. The study adopted a convenience sampling technique. The validity and reliability test of the instrument was conducted on the variables. The reliability test was analyzed using Cronbach’s alpha test, and all variables were greater than 0.7, indicating a good construct. The study used descriptive and inferential (multiple linear regression) data analysis methods. The study’s findings revealed that IFRS adoption and Corporate governance significantly affect the faithful representation of financial reporting of Nigeria’s Development Banks. The study concluded that IFRS adoption and corporate governance significantly affect the faithful representation of the financial reporting quality in Nigeria’s development banks. The paper recommended that the management of the development banks should endeavor to take advantage of the opportunities presented by the IFRS adoption to improve their reporting to promote uniformity and transparency.https://www.tandfonline.com/doi/10.1080/23311975.2022.2139213corporate governancefaithful representationfinancial reporting qualityIFRS adoptionNigeria’s development banks |
| spellingShingle | Ayodeji T. Ajibade Nelson Okutu Folorunsho Akande Jerry D. Kwarbai Ifayemi M. Olayinka Ayooluwa Olotu IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks Cogent Business & Management corporate governance faithful representation financial reporting quality IFRS adoption Nigeria’s development banks |
| title | IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks |
| title_full | IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks |
| title_fullStr | IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks |
| title_full_unstemmed | IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks |
| title_short | IFRS adoption, corporate governance and faithful representation of financial reporting quality in Nigeria’s development banks |
| title_sort | ifrs adoption corporate governance and faithful representation of financial reporting quality in nigeria s development banks |
| topic | corporate governance faithful representation financial reporting quality IFRS adoption Nigeria’s development banks |
| url | https://www.tandfonline.com/doi/10.1080/23311975.2022.2139213 |
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