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Proactive monitoring and compliance with International Financial Reporting Standard in Nigeria


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

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Abstract

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.

Item Type: Article
Uncontrolled Keywords: Proactive Monitoring, Compliance with International Financial Reporting Standard, Nigeria
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Dr. Kamarul Bahrain Abdul Manaf
Date Deposited: 05 Feb 2017 02:39
Last Modified: 05 Feb 2017 02:39
URI: http://repo.uum.edu.my/id/eprint/20836

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