Acta Universitatis Danubius. Œconomica, Vol 12, No 5 (2016)

Does IFRS Detract From Social Disclosure In Corporate Annual Report And Accounts? Evidence From Nigeria

Arthur Joseph Avwokeni


This study examines compliance with the corporate social disclosure requirements of the Nigerian company law (CAMA) 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, were garnered from financial statements prepared before and after IFRS adoption. Overall, 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. This finding provides evidence to clinch anecdotal claims that even in the absence of laws some agents would still operate to meet the information needs of their principals; however, in line with organization theory, policies are needed to guide the actions of man, including the learning organization.


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