Journal of
Accounting and Taxation

  • Abbreviation: J. Account. Taxation
  • Language: English
  • ISSN: 2141-6664
  • DOI: 10.5897/JAT
  • Start Year: 2009
  • Published Articles: 189

Full Length Research Paper

The value relevance of the quality of IFRS-based published financial information of non-financial companies in Nigeria

Liafisu Sina Yekini
  • Liafisu Sina Yekini
  • Accounting Group, Derby Business School, University of Derby, Kedleston Road, Derby, England, United Kingdom.
  • Google Scholar
Sunny Oteteya Temile
  • Sunny Oteteya Temile
  • Dennis Osadebey University, Faculty of Management and Social Sciences, Department of Accounting, Asaba, Delta State, Nigeria.
  • Google Scholar
Dubem Victor Enaruna
  • Dubem Victor Enaruna
  • Department of Maritime Economics and Finance, Nigerian Maritime University, Okerenkoko, Warii, Delta State, Nigeria.
  • Google Scholar

  •  Received: 14 December 2021
  •  Accepted: 03 March 2022
  •  Published: 29 April 2022


The study examines whether the quality of international Financial Reporting Standards (IFRS) based published financial information in Nigeria increased in the post-IFRS era. The study examines the quality of IFRS-based financial reports in improving the information required from financial statements. In other words, it evaluates the quality of published financial reports after IFRS adoption in Nigeria using annual reports of 87 non-financial companies for 10 years (2007-2016). We find that information provided in post-IFRS published financial statements is of higher value to investors/shareholders. The result was confirmed using trend analysis of and pre-and post-IFRS adjusted R2, which confirm that public financial statements in the post-IFRS era have increased value relevance. These findings imply that adopting IFRS in Nigeria is justifiably undertaken as the objective of possible channelling funds, for investment purposes, to the right channel is achieved. The finding indicates positive changes after IFRS adoption. Based on these findings, we recommend that the Nigerian Financial Reporting Council, Stock Exchange, Securities and Exchange Commission and other relevant authorities in the country should ensure compliance with the ethos of IFRS adoption to ensure that the improved quality of financial reporting achieved is consistently maintained.


Key words: IFRS, accounting information, value relevance, accounting data, N-GAAP.