IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARD ON FINANCIAL STATEMENTS IN QUOTED COMPANIES IN NIGERIA

Abstract

This study examined the impact of International Financial Reporting Standards (IFRS) on financial statements in quoted companies in Nigeria using a cross sectional and longitudinal research designs. The study used secondary source of data which were cross sectional from Published Financial Statements of twelve (12) quoted companies in the Nigerian Stock Exchange (NSE) as at 2021 as samples. The result of the panel data shows positive and significant relationship between return on asset and earning as per shares stated in IFRS, while dividend per shares have a positive and insignificant relationship with return on asset, the study recommended that management of companies should give attention to the large earning  per shares due to their influence on the survival of the company, The fact that financial statement employed in this current study were significantly the same under IFRS, suggested a high degree of convergence and comparability of the financial statement figures under the financial reporting frameworks. It was recommended that relevant Authorities should encourage management should be encouraged to have more interest through shares in the organization as it enables them to have more sense of belonging.