Department of Accounting

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https://ir.unilag.edu.ng/handle/123456789/3531

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Browsing Department of Accounting by Subject "Accountants"

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    Open Access
    Issues and challenges in the adoption of International Financial Reporting Standards in Nigeria
    (The Journal of Research in National Development, Federal University of Technology, Owerri,, 2015) Shiyanbola, A.; Adeyemi, S. B; Adelakun, O. J.
    The mandatory adoption of International Financial Reporting Standard (IFRS) has come with a number of challenges that need to be studied so that solutions from other countries will not be imported into our country. The decision to adopt IFRS is observed to have some weaknesses, as such, implementation of policy results in a lot of challenges. The study explores the challenges on the mandatory adoption of IFRS in Nigeria. The study adopts the questionnaire survey method to seek responses from five hundred and fifty-four respondents on their perception on the subject matter. Structured questionnaire was administered to capture the main questionnaire items. Pearson product moment correlation was employed to test the hypotheses. In testing the hypotheses, the overall result shows the significant relationship on technical related issues and logistic related issues experienced by stakeholders on adoption of IFRS, there is significant relationship between complexity and compliance with IFRS and NG-GAAP but compliance so as to increase or have access to foreign capital and complexities was not found significant. We recommend the need for training and retraining of staff to ease the challenges and in turn reduce cost of IFRS adoption. Accounting infrastructure should be strengthened.
  • Item
    Open Access
    The Role of Professionals in Anti-Social Financial Practices:
    (2011) Otusanya, O. J.
    The bourgeoning literature on the commercialisation of the professions has paid little attention to the predatory practices of professionals even though such practices affect a wide variety of arenas and stakeholders. This paper shows that professionals (such as bankers, and financial intermediaries) are increasingly willing to increase their profits and capital accumulation by perpetrating and facilitating anti-social financial practices, such as tax evasion, tax avoidance and corruption, and which that shows scant regard for social norms and legal regulation. The paper shows that some professionals do so despite having ethical codes of practice and despite claiming to be acting in the public interest. Thus, it draws attention to the gap between the claims of professionalism and what can happen in practice. The paper provides evidence of various cases to show how some professionals are engaged in anti-social financial practices. Using the results from interviews with key stakeholders, the paper argues that professional accountants and financial intermediaries are the facilitators of antisocial practices in Nigeria. The paper aims to encourage reflection on professional practices and offer some suggestions for reform.