Aims:The paper empirically investigated the effect of mandatory adoption of International Financial Reporting Standards on earnings predictability of deposit money banks and insurance firms. Study Design: It adopted ex post facto research design. Place and Duration of Study:The study was conducted in Nigeria and covered the period 2008 to 2014. Methodology: The study used 196 firm-year observations obtained from annual reports of the deposit money banks and insurance firms quoted on the Nigerian Stock Exchange. It formulated two hypotheses and tested the hypotheses using random effect model of Generalized Least Square Method. Results: The regression results revealed that the mandatory adoption of IFRS did not improve earnings predictability of firms in the services sector, based on earnings and cash flows. The results Ebirien et al.; JEMT, 24(1): 1-12, 2019; Article no.JEMT.49287 2 also showed that the earnings predictability in the post mandatory IFRS adoption period was not significantly different between DMBs and insurance firms. Conclusions: Nigeria has relatively short IFRS experience and preparers are still contending with several evolving issues. The paper recommends sustained training for both the preparers, users and regulators so as to improve financial reporting and consequently enhance earnings predictability. Original Research Article

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Data were collected using a survey questionnaire administered to the heads of IAF in Nigerian public tertiary institutions. The data were analysed using Stata 12. The study established the extent of management support for IAF by interpreting the overall mean responses of the heads Internal Audit Units. The study then formulated four hypotheses and tested them using ordinary least square method of multiple regression. Results:The study found evidence that there was no significant management support for IAF in Nigerian public tertiary institutions in the dimensions of funding, training and skill development, and use of IAF reports. Conversely, it found management support for IAF in the dimension of access to

Effect of Board Characteristics on the Value Relevance of Segment Earnings 1. Introduction Segment reporting has long been recognized by accounting standard setters including the defunct Nigerian Accounting Standards Board. This is because users of financial statements demand that financial statements data be disaggregated since doing so would increase their ability to predict management actions that impact future cash flows. The demand for segment reporting is heightened by globalization and diversification as a result of which firms operate in complex and different markets with each market having unique economic dynamics necessitating adoption of different business models and corporate strategies. Hope, Kang, Thomas and Vasvari (2009) argue that in todays' complex global operations, it is difficult for users of financial statements to identify differences in profitability, resources and returns across business and geograhical segments and make sound decisions without enough segment information.Standard setters accept the demand of the financial statement users and issue accounting standards since the objective of financial reporting is to provide information to assist present and potential investors in assessing the timing and uncertainty of the entity cash inflows and cash outflows for rational investment decision. Prior US studies find that disclosure of segment information improves EPS forecast (Balakrishnan, Harris & Sen, 1990;Swaminathan, 1991; Tse, 1990) and enhances monitoring (Berger& Hann, 2003). This implies segment reporting is value relevant. The quality of segment reportting is a critical determinant of value relevance of segment reporting. Prior studies find that the quality of earnings is affected by the incentives of the preparers of financial statements (Ball, Robin & Wu, 2003; Barker, Collins & Reitenga, 2009; Burgstahler, Hail & Leuz, 2006). The incentives are clearly evident in the standards on segment reporting. IFRS 8 allows managers to identify segments and related information using management approach. This means management discloses segment information based on the way management organizes the entity for the purpose of assessing the performance and making decisions. This discretion is subject to managerial opportunism.Indeed, Botosan and Stanford (2005) examine the manager's motive to withhold segment disclosures using US data and find evidence suggesting the motivation to be a desire to protect profits in less competitive industries. Managerial opportunism could be constrained by the board of directors on whom the Companies and Allied Matters Act, 2004 imposes the resposibility of preparing the financial statements. The purpose of this study therefore is to investigate the extent to which board characteristics influence the value relevance of segment earnings. This study is motivated by the fact that prior studies using data from Europe and the US markets investigate the value relevance of segment disclosures without paying special consideration of the role of the board in the reportin...