Title:
RISK MANAGEMENT ATTRIBUTES, INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION, AND TIMELINESS OF FINANCIAL REPORTS AMONG NIGERIAN LISTED FIRMS

Authors:
Olubunmi Veronica Ologun, Nigeria

Abstract:

The study observed the impact of risk management attributes, on the timeliness of financial reports among Nigerian listed firms, in the pre-and post-IFRS adoption period. Using an ex-post facto research design and the Panel Least square estimation technique, secondary data were sourced from published audited financial reports of sample firms from 2006 to 2018. The study population included all firms listed on the Nigerian Stock Exchange (NSE) as of December 2019, totaling 165. A sample of 57 was obtained across all sectors of the NSE. The study found that the coefficient of IFRS was statistically significant, inferring that IFRS was more effective in the post-adoption period than the pre-adoption period. The model also has an interaction of its variables and IFRS.  The variables of risk management committee size, meeting, and gender diversity were statistically significant in the post-IFRS adoption period and thus improved ARL. The study recommended, among others, a holistic approach to corporate governance with the inclusion of risk management attributes compliance and disclosure while also identifying those variables that jointly reduced ARL.