For correspondence:-
Received: 30/08/2023 Accepted: 02/12/2023 Published: 30 December 2023
Citation: IFRS and Timely Loss Recognition of Listed Deposit Money Banks: A Nigerian Experience. Account Tax Rev 2008; 7(4):1-10 doi:
© 2008 The authors.
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Abstract
Abstract This paper investigates the effect of the International Financial Reporting Standards (IFRS) adoption on timely loss recognition of listed Deposit Money Banks (DMBs) in Nigeria using an ex-post facto research design. A sample of 12 listed DMBs was used. The data on timely loss recognition was extracted from the audited financial statements of the sampled banks for the period under investigation (2006 to 2020) to cover the pre and post-IFRS adoption period. The findings revealed a decline in timely loss recognition. The implication is that the adoption of IFRS has not improved accounting information quality as measured by timely recognition of losses.
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