文章基本信息

标题：Adoption of IFRS in Nigeria: Challenges and the Way Forward
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作者：John Onyemaechi Odo
期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2018
卷号：8
期号：8
页码：426-440
DOI：10.6007/IJARBSS/v8-i8/4493
语种：English
出版社：Human Resource Management Academic Research Society
摘要：The purpose of this paper is to examine the adoption of International Financial Reporting standards (IFRSs) in Nigeria, its inherent challenges and suggest ways forward to realize the expected benefits of its adoption. The paper brought to limelight the history, and challenges encountered during the adoption and the ways to move forward so as to reap the benefits of IFRS adoption. The study employed review and trend analytical approach to discover that IFRS adoption improved the quality of financial statements presentation, moreso it was discovered that IFRS adoption attracted a lot of benefits to the country. Such includes the increase in foreign direct investment inflow, uniformity of accounting language which makes comparison of financial statements possible. That notwithstanding the adoption faced a lot of challenges which can be overcome by strengthening professional accounting education and training, raising awareness of professional regulators and preparers to improve the knowledge gap and providing adequate resources to support the sustainable implementation of IFRS.