Adoption effect of IFRS on corporate social disclosure and gross domestic product: evidence from Nigeria

Adoption effect of IFRS on corporate social disclosure and gross domestic product: evidence from Nigeria

Author: 
Avwokeni, Arthur J.
Publisher: 
Inderscience
Date published: 
2016
Record type: 
Journal Title: 
African Journal of Accounting, Auditing and Finance
Source: 
African Journal of Accounting, Auditing and Finance, Vol. 5, No. 3, 2016, pp. 254-269
Abstract: 

This study examines compliance with corporate social disclosure requirements of the Nigerian company law and the United Nations, and whether their voluntary declaration by the International Accounting Standards Board detracts from compliance. In addition, the study tests whether IFRS adoption alters the economic growth position of a country. Qualitative, financial and non-financial disclosures, based on core indicators developed by the United Nations Conference on Trade, Aid and Development, and the Nigerian company law were garnered from financial statements prepared before and after IFRS adoption. The study finds that corporate social disclosure on employment creation and labour practices; welfare, health and safety; and environment, improve during the IFRS regime. This improvement is associated with size of the firm, not audit identity, ownership or capital structure. Furthermore, IFRS adoption decreases the gross domestic product of Nigeria.

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Country focus: 

CITATION: Avwokeni, Arthur J.. Adoption effect of IFRS on corporate social disclosure and gross domestic product: evidence from Nigeria . : Inderscience , 2016. African Journal of Accounting, Auditing and Finance, Vol. 5, No. 3, 2016, pp. 254-269 - Available at: https://library.au.int/adoption-effect-ifrs-corporate-social-disclosure-and-gross-domestic-product-evidence-nigeria