ABSTRACT

This research examined investigations of professional Accountants perception on the adoption of international financial Reporting Standard (IFRS) in Nigeria. International Financial Reporting Standard is a set of high quality Generally Accepted Accounting Principles (GAAP) used by Companies to report financial Statements. To execute the study, a total of thirty (30) sample professional accountants were administered Liker scale question form questionnaires. The retrieved questionnaire was collected and analyzed according to respondent's perception. The one-way Analysis of Various (ANOVA) is the test statistics employed. The findings revealed that, adoption of IFRS would influence financial reporting quality, Comparability. Convergence on the competent technical resource. In conclusion, IFRS should be voluntarily and as well would facilitate transparency. It is recommended amongst others that the financial statement should be prepared using such a language and terms a layman can understand because the technical terms do not mean much to the investors, IFRS setters should carryout educationalenlightment program from time to time to enable investors understand the financial report fully.Investors should attach much importance to the annual report so that banks and companies can really know the extent of their responsibility in preparing the financial statement and also there should be a review of annual report of banks and companies by the authority concerned, in order to affect the much-needed charges raised by investors considering the changing economic trend in the country