The Significance of International Corporate Governance Disclosure on Financial Reporting in Nigeria

Abstract

The adjudication for International corporate governance disclosure framework, such as, the International Standard of Accounting and Reporting (ISAR), has assumed a state of relevance between local and international markets participants, to circumvent the encumbrances of incomparable corporate governance disclosures despite the integrations of commercial activities around the world. The study, therefore, examined the significance of international corporate governance disclosures on financial reporting in Nigeria. Content analysis design was adopted, while population t-test and multiple regressions were used for hypothetical tests. It was however discovered that, International Corporate Governance disclosures significantly affects companies' total assets and profitability, and that, Nigerian Banks report more than half the ISAR requirements, but was done indiscriminately. It is therefore recommended that, relevant codes of corporate governance in Nigeria be upgraded to reflect international specifications and the remiss of good governance be done away with, if we must achieve anti-corruption and investment drive. ISAR should be adopted and sanctions meted for non-compliance. Where this is done, organizations will have access to capital from international stock market and expansion of their business across boundaries. This will eventually breed economic viable Nigeria, free off corruption, and the actualization of the rebranding Nigeria ideology.

Integrated Reporting in Developing Countries: Evidence from Malawi

“…The annual reports were analysed and a "1" was assigned when an item on the disclosure framework (see TABLE 3) is disclosed and a "0" when it is not disclosed in the annual reports. The scoring methodology is consistent with other related annual report disclosure studies (Tsamenyi et al, 2007;Hossain, 2008;Bhasin, 2012;Biobele et al, 2013;Lipunga, 2014). Sinceneed to prepared "integrated report" is not explicitly given in the Malawi Code II, no company was expected to prepare a standalone integrated report.…”

Moderating Effect of Earnings Persistence on the Relationship Between International Financial Reporting Standards Implementation and Earnings Response Coefficient of Listed Companies in Nigeria

“…Taiwo and Adejare (2014) claimed that IFRS will improve financial performance, and quality of accounting records. High-quality financial reports furnish financial investors with the data and confidence required to put resources into the global capital market (Beredugo, Igbeng, & Eze, 2013). A top notch set of accounting principles empowers financial investors to receive reasonable information.…”

Role of Investors' Protection On The Relationship Between International Financial Reporting Standards Implementation And Earnings Response Coefficient Of Listed Companies In Nigeria

“…According to Mary, Okoye and Adediran (2013) the adoption of IFRS in Nigeria will open opportunities for a larger finance transformation for firm and upturn the centralization of economies of scale. High-quality financial reports furnish financial investors with the data and confidence required to put resources into the global capital market (Beredugo, Igbeng, & Eze, 2013). A top notch set of accounting principles empowers financial investors to receive reasonable information.…”