IDEAS home Printed from https://ideas.repec.org/a/bjz/ajisjr/1157.html
   My bibliography  Save this article

Mandatory International Financial Reporting Standards 7 (IFRS 7) Disclosure by Listed Banks in Nigeria

Author

Listed:
  • Adamu Garba Zango
  • Hasnah Kamardin
  • Rokiah Ishak

Abstract

The paper assesses the extent of mandatory compliance with international financial reporting standards 7 (IFRS7) by fourteen listed banks on the Nigerian stock exchange. Using a disclosure checklist of 132 mandatory disclosure requirements, the study covers a two year period of 2012 and 2013. Findings from the study reveal non-compliance with disclosure requirements. However, compliance is above average for the two years under study, an improvement is nonetheless recorded if the two years of the study are compared. Based on the result, it is recommended that monitoring and enforcement mechanisms of the Financial Reporting Council (FRC) especially on bank surveillance should be given urgent priority in view of the complex nature of banking and the need to mitigate banking crisis in Nigeria. Although Nigeria is only two years into the adoption process, banks in Nigeria can do better than what is reported in the current study.

Suggested Citation

  • Adamu Garba Zango & Hasnah Kamardin & Rokiah Ishak, 2015. "Mandatory International Financial Reporting Standards 7 (IFRS 7) Disclosure by Listed Banks in Nigeria," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 4, July.
    • Handle: RePEc:bjz:ajisjr:1157
    DOI: 10.5901/ajis.2015.v4n2p435
    as

    Download full text from publisher

    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/7187
    Download Restriction: no
    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/7187/6889
    Download Restriction: no
    File URL: https://libkey.io/10.5901/ajis.2015.v4n2p435?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Street, Donna L. & Bryant, Stephanie M., 2000. "Disclosure Level and Compliance with IASs: A Comparison of Companies With and Without U.S. Listings and Filings," The International Journal of Accounting, Elsevier, vol. 35(3), pages 305-329, September.
    2. Keryn Chalmers, 2001. "The Progression from Voluntary to Mandatory Derivative Instrument Disclosures – Look Who's Talking," Australian Accounting Review, CPA Australia, vol. 11(23), pages 34-44, March.
    3. Andres, Pablo de & Vallelado, Eleuterio, 2008. "Corporate governance in banking: The role of the board of directors," Journal of Banking & Finance, Elsevier, vol. 32(12), pages 2570-2580, December.
    4. repec:eme:bsppss:09657960210697337 is not listed on IDEAS
    5. Hodgdon, Christopher & Tondkar, Rasoul H. & Adhikari, Ajay & Harless, David W., 2009. "Compliance with International Financial Reporting Standards and auditor choice: New evidence on the importance of the statutory audit," The International Journal of Accounting, Elsevier, vol. 44(1), pages 33-55, March.
    6. International Monetary Fund, 2013. "Nigeria: Publication of Financial Sector Assessment Program Documentation––Detailed Assessment of Implementation of IOSCO Objectives and Principles of Securities Regulation," IMF Staff Country Reports 2013/144, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Degu Kefale Chanie & Keshav Malhotra & Monika Aggarwal, 2024. "Assessment of financial and social disclosure level of Ethiopian commercial banks," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-11, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Niclas Hellman & Jordi Carenys & Soledad Moya Gutierrez, 2018. "Introducing More IFRS Principles of Disclosure – Will the Poor Disclosers Improve?," Accounting in Europe, Taylor & Francis Journals, vol. 15(2), pages 242-321, May.
    2. Mohammed Muneerali Thottoli & Md. Aminul Islam & Farid Ahammad Sobhani & Shafiqur Rahman & Md. Sharif Hassan, 2022. "Auditing and Sustainability Accounting: A Global Examination Using the Scopus Database," Sustainability, MDPI, vol. 14(23), pages 1-14, December.
    3. Vieru, Markku & Schadewitz, Hannu, 2010. "Impact of IFRS transition on audit and non-audit fees: evidence from small and medium-sized listed companies in Finland," MPRA Paper 44664, University Library of Munich, Germany.
    4. Haapamäki, Elina & Sihvonen, Jukka, 2019. "Research on International Standards on Auditing: Literature synthesis and opportunities for future research," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 35(C), pages 37-56.
    5. Hooghiemstra, Reggy, 2010. "Letters to the shareholders: A content analysis comparison of letters written by CEOs in the United States and Japan," The International Journal of Accounting, Elsevier, vol. 45(3), pages 275-300, September.
    6. katia Corsi & Daniela Mancini, 2015. "Regulatory compliance of financial control systems and its implications for accountants. Some evidence from Italian experience," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2015(3), pages 65-91.
    7. Ebrahim, Ahmed & Fattah, Tarek Abdel, 2015. "Corporate governance and initial compliance with IFRS in emerging markets: The case of income tax accounting in Egypt," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 24(C), pages 46-60.
    8. Chen, Ting-Hsuan & Shen, Chung-Hua & Wu, Meng-Wen & Huang, Kuo-Jui, 2021. "Effect of shadow banking on the relation between capital and liquidity creation," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 166-184.
    9. Owen, Ann L. & Temesvary, Judit, 2018. "The performance effects of gender diversity on bank boards," Journal of Banking & Finance, Elsevier, vol. 90(C), pages 50-63.
    10. Mollah, Sabur & Zaman, Mahbub, 2015. "Shari’ah supervision, corporate governance and performance: Conventional vs. Islamic banks," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 418-435.
    11. Helge Berger & Volker Nitsch, 2011. "Too Many Cooks? Committees in Monetary Policy," Southern Economic Journal, John Wiley & Sons, vol. 78(2), pages 452-475, October.
    12. Kevin Ghislain Adjé, 2018. "Determinants of Bank Credit Risk in Developing Economies: Evidence from Benin," International Business Research, Canadian Center of Science and Education, vol. 11(4), pages 154-163, April.
    13. Mishari Alfraih & Faisal Alanezi, 2015. "The Value Relevance Of Mandatory Corporate Disclosures: Evidence From Kuwait," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 9(3), pages 1-18.
    14. Laura Baselga-Pascual & Antonio Trujillo-Ponce & Emilia Vähämaa & Sami Vähämaa, 2018. "Ethical Reputation of Financial Institutions: Do Board Characteristics Matter?," Journal of Business Ethics, Springer, vol. 148(3), pages 489-510, March.
    15. Abdo, Hafez & Mangena, Musa & Needham, Graham & Hunt, David, 2018. "Disclosure of provisions for decommissioning costs in annual reports of oil and gas companies: A content analysis and stakeholder views," Accounting forum, Elsevier, vol. 42(4), pages 341-358.
    16. Maria Teresa Medeiros Garcia & Ana Jin Ye, 2023. "Risk-taking by banks: evidence from European Union countries," China Finance Review International, Emerald Group Publishing Limited, vol. 13(4), pages 537-567, August.
    17. Delis, Manthos D & Gaganis, Chrysovalantis & Pasiouras, Fotios, 2009. "Bank liquidity and the board of directors," MPRA Paper 18872, University Library of Munich, Germany.
    18. Kočenda, Evžen & Iwasaki, Ichiro, 2020. "Bank survival in Central and Eastern Europe," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 860-878.
    19. Wang, Tawei & Hsu, Carol, 2013. "Board composition and operational risk events of financial institutions," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 2042-2051.
    20. Andreas G. Georgantopoulos & Ioannis Filos, 2017. "Board Structure and Bank Performance: Evidence for the Greek Banking Industry during Crisis Period," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 56-67.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjz:ajisjr:1157. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richtmann Publishing Ltd (email available below). General contact details of provider: https://www.richtmann.org/journal/index.php/ajis .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.