IMPACT OF ACCOUNTING REGULATORY FRAMEWORK ON QUALITY OF FINANCIAL REPORTING AND CORPORATE GOVERNANCE REGULATION: THE NIGERIAN BANKING SECTOREXPERIENCE
Keywords:
Accounting Regulatory Framework, Quality of Financial Reporting, Corporate Governance Regulation, Nigerian Banking Sector.Abstract
This study considers the influence of accounting regulatory framework on quality of financial
reporting and corporate governance regulation in Nigeria. The scope covers 2011-2020. The
standard least square multiple regression analysis was adopted. The regression model showed
linear sensitivity or elasticity between independent and dependent variables and whether or not
the identified linear relationship was significant. The findings further show a covariant, significant
and positive relationship between accounting regulatory framework and quality of financial
reporting and corporate governance regulation. However, this appears to be only in the short
term. The study recommends more stringent supervisory role by the Central Bank of Nigeria to
ensure complete compliance by banks in Nigeria by regularly observing the banks financial
statements with regards to compliance with International Financial Reporting Standards.