Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria
The study examines how proactive monitoring by regulatory authorities and external auditors affect compliance with International Financial Reporting Standard (IFRS) in Nigeria.Data is hand collected from 154 companies that mandatorily adopted IFRS in the year 2012.The study uses the unweighted index...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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EconJournals
2016
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/20836/1/IJEFI%206%20S6%202016%20101%20104.pdf |
| _version_ | 1803627978658152448 |
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| author | Bagudo, Muhammad Mustapha Abdul Manaf, Kamarul Bahrain Ishak, Rokiah |
| author_facet | Bagudo, Muhammad Mustapha Abdul Manaf, Kamarul Bahrain Ishak, Rokiah |
| author_sort | Bagudo, Muhammad Mustapha |
| collection | UUM |
| description | The study examines how proactive monitoring by regulatory authorities and external auditors affect compliance with International Financial Reporting Standard (IFRS) in Nigeria.Data is hand collected from 154 companies that mandatorily adopted IFRS in the year 2012.The study uses the unweighted index in determining the extent of compliance with the disclosure requirements of 10 standards and uses multiple regressions in examining how proactive monitoring affects compliance with IFRS.The results show that the overall level of compliance is 61% and the regulatory bodies under insurance companies and firms audited by Big-4 auditors significantly and positively affect the level of compliance with IFRS disclosures.The study recommends an increase in vigilant in monitoring compliance with IFRS by the regulatory bodies supervising non-financial firms and by local audit firms to improve compliance. |
| first_indexed | 2024-07-04T06:14:39Z |
| format | Article |
| id | uum-20836 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:14:39Z |
| publishDate | 2016 |
| publisher | EconJournals |
| record_format | dspace |
| spelling | uum-208362017-02-05T02:39:40Z https://repo.uum.edu.my/id/eprint/20836/ Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria Bagudo, Muhammad Mustapha Abdul Manaf, Kamarul Bahrain Ishak, Rokiah HF5601 Accounting The study examines how proactive monitoring by regulatory authorities and external auditors affect compliance with International Financial Reporting Standard (IFRS) in Nigeria.Data is hand collected from 154 companies that mandatorily adopted IFRS in the year 2012.The study uses the unweighted index in determining the extent of compliance with the disclosure requirements of 10 standards and uses multiple regressions in examining how proactive monitoring affects compliance with IFRS.The results show that the overall level of compliance is 61% and the regulatory bodies under insurance companies and firms audited by Big-4 auditors significantly and positively affect the level of compliance with IFRS disclosures.The study recommends an increase in vigilant in monitoring compliance with IFRS by the regulatory bodies supervising non-financial firms and by local audit firms to improve compliance. EconJournals 2016 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/20836/1/IJEFI%206%20S6%202016%20101%20104.pdf Bagudo, Muhammad Mustapha and Abdul Manaf, Kamarul Bahrain and Ishak, Rokiah (2016) Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria. International Journal of Economics and Financial Issues, 6 (S6). pp. 101-104. ISSN 2146-4138 https://www.econjournals.com/index.php/ijefi/article/view/3124 |
| spellingShingle | HF5601 Accounting Bagudo, Muhammad Mustapha Abdul Manaf, Kamarul Bahrain Ishak, Rokiah Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria |
| title | Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria |
| title_full | Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria |
| title_fullStr | Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria |
| title_full_unstemmed | Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria |
| title_short | Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria |
| title_sort | proactive monitoring and compliance with international financial reporting standard in nigeria |
| topic | HF5601 Accounting |
| url | https://repo.uum.edu.my/id/eprint/20836/1/IJEFI%206%20S6%202016%20101%20104.pdf |
| work_keys_str_mv | AT bagudomuhammadmustapha proactivemonitoringandcompliancewithinternationalfinancialreportingstandardinnigeria AT abdulmanafkamarulbahrain proactivemonitoringandcompliancewithinternationalfinancialreportingstandardinnigeria AT ishakrokiah proactivemonitoringandcompliancewithinternationalfinancialreportingstandardinnigeria |