Institutional Framework for Accounting Policy and Reporting in Nigeria: The Unresolved Issue

Jude Aruomoaghe, Emmanuel Esekhile


The quality of decisions that users of accounting information make is largely dependent on the quality of information available to them. This therefore implies that for accounting information to be of acceptable quality, it must meet some established standards and principles. This paper looks at the various institutional frameworks for accounting policy in Nigeria with a view at addressing the unresolved issue in the legal framework by adopting the recent International Financial Reporting Standards (IFRS). The paper recommends the way forward to include the amendment of the existing laws at variance with the adoption of the IFRS framework for financial Reporting.

Keywords: Institutional Framework, Accounting policy, Nigeria

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ISSN (Paper)2222-1905 ISSN (Online)2222-2839

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