This study investigated the level of compliance with International Financial Reporting Standards (IFRS) by listed financial services companies in Nigeria, and the effect firm characteristics have on the level of compliance. The study also examined whether compliance with IFRS significantly differs between listed Deposit Money Banks (DMB) and Insurance Companies (INC) in Nigeria. Secondary data used for the study were extracted from the annual report and accounts of the sampled firms and analyzed using the multiple regression technique and Wilcoxon Rank Sum Test for two independent samples. The study found that (i) the level of compliance with IFRS by the sampled firms is high (about 85.9%); (ii) profitability is positive and significantly associated with IFRS at 10% level; (iii) firm size and auditor type are positive but insignificantly associated with IFRS compliance; and (iv) leverage and internationality are negative and insignificantly associated with IFRS compliance. Furthermore, the study found that compliance with IFRS by DMB is higher than INC but the difference is not statistically significant. The major conclusion reached in this study was that compliance with IFRS by listed financial services companies in Nigeria is not driven by firm attributes. The study recommended that adequate steps be taken by regulatory authorities such as the Financial Reporting Council (FRC) of Nigeria to ensure full compliance with the mandatory disclosure requirements of IFRS by listed firms in Nigeria.

This paper investigates the relation between corporate ownership and corporate performance of listed companies in Nigeria, a foremost Sub-Saharan African country during the period [2002][2003][2004][2005][2006][2007]. The data is obtained from the firms" annual reports and accounts and the Nigerian Stock Exchange daily performance reports. The combination of 70 firms and six-year period studied provides a balanced panel with 420 observations for panel data analysis. The results from the ordinary least square (OLS) regression analyses show that there is a strong connection between foreign ownership structure and firm performance. Foreign ownership structure is found to exhibit significant improvements in firm performance; it adumbrates eclectic competitive advantages in ownership, control and internalization respects over other types of ownership structure. We find no statistically significant relation between concentrated ownership and firm performance. Insider or managerial ownership, however, exhibits significant decline in firm performance. These findings are consistent with the view that firm performance is a negative predictor of insider ownership. We also find support for the notion that management is apathetic to holding equity stakes in their underperforming firms.

This study examined the effect of adopting International Public Sector Accounting Standards (IPSAS) on accountability in public sector financial reporting in Nigeria, using the perceptions of accounting personnel (AP), academics (AA, and auditors (AU). A sample of 130 respondents was drawn from a population of 193 AU, AP, and AA within Benue State. The Chi-Square goodness of fit test, Kruskal Wallis H test, Mann-Whitney U test, and Cohen effect size were used in data analysis. The study found that IPSAS adoption in Nigeria would improve accountability and decision making in the public sector. The study also found that significant differences existed between AP, AA and AU on the effect of IPSAS adoption on Nigeria's public sector financial accountability. The study, therefore, recommended that the Federal Government should not relent towards IPSAS implementation in Nigeria since they would enhance accountability and decision making. Furthermore, concerted efforts should be made by the federal, state and local governments to educate the populace on what IPSAS entails in terms of financial accountability in the public sector.

This paper examines the relationship between ownership structure and firm performance from the perspective of listed Nigerian companies. The sample comprises 73 companies listed on the Nigerian Stock Exchange for which relevant financial data is available for the period 2001 to 2007. The empirical results obtained through ordinary least squares (OLS) analysis provide evidence which suggests that dominant shareholding, ownership concentration, and foreign ownership structures have no significant effect on firm performance. However, insider ownership is inversely related to firm performance. Two major policy implications emerge from the results of this study. First, since ownership structures such as, dominant shareholding, concentrated ownership, and foreign ownership have no significant effect on firm performance, government emphasis on them is misplaced. Second, insider ownership of Nigerian firms is to be monitored closely by shareholders due to the adverse effect of this ownership structure on firm performance.

This paper documents the rise of fraud examination and forensic accounting education and research in Africa, using Nigeria to mirror the development. With attendant fraud and corrupt practices in Nigeria there are muted discussions on strategic ways to build capacity in the drive to curtail these unwholesome practices. The paper concludes, inter alia, that: (i) fraud examination and forensic accounting (FEFA) education has become an indispensable subject area in the light of the challenge of fraud and corruption in Nigeria's (and Africa's) economy; (ii) there is currently no formal structure for FEFA education in Nigerian tertiary education system even though there is some evidence of integration of forensic accounting education at the undergraduate and postgraduate levels; and (iii) due to the skill set required, FEFA education cannot be conveniently subsumed under traditional accounting programmes. The study recommends the articulation of a clear framework for FEFA education, coordinated by tertiary education regulators and inclusion of routine forensic audits as part of the corporate governance architecture of public and private sector organizations in Nigeria.