INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION AND FINANCIAL REPORTING QUALITY OF QUOTED OIL AND GAS FIRMS IN NIGERIA

The study examined international financial reporting standard adoption and financial reporting quality of oil and gas firms in Nigeria. The research adopted descriptive survey research design. The population for this study was one hundred and forty-one (141) and a sample size of one hundred and four (104) knowledgeable and competent top administrative staff. The study used questionnaire instrument, and data were analyzed in the Statistical Package for Social Sciences Version 21. The research questions were analyzed using mean and standard deviation and hypotheses were tested using Simple bivariate regression analysis at a significance level of .05. The results of the findings showed that there was a positive significant relationship between pre-ifrs adoption and measures of financial reporting quality. it was further revealed that there was a strong positive significant relationship between post-ifrs adoption and the measures of financial reporting quality in Nigeria. The study recommends that Accountants should uphold high positive attitudes with respect to quality financial reports. Practices that influence the professional judgment of the professional accountants should be avoided. Professional accountants should behave with post-ifrs adoption in all professional, business and financial relationships Confidential information acquired as a result of professional and business relationships should not be used for the personal advantage of the professional accountant or third parties