Challenges Of International Financial Reporting Standard (ifrs)

ABSTRACTThe different sectors of the Nigerian economy are working towards being globally competitive and to be able to satisfy the different stakeholders. One of the recent moves in Nigerian companies is to meet the aforementioned position through financial reporting. In this case the Nigeria Accounting Standards Boards has proposed that the international financial reporting standards will soon be adopted in Nigeria. Adoption of international standards to replace local ones would have far reaching consequences. This study therefore examine the challenges of international financial reporting st…