What question did this study set out to answer?

The study examines how Nigerian banks comply with impairment requirements for non-current assets under IFRS.

March 28, 2026Open Access

Compliance With Impairment Requirements for Non-Current Assets: Evidence From Nigerian Banks

Key Points

The study examines how Nigerian banks comply with impairment requirements for non-current assets under IFRS.
Analyzed financial statements of Nigerian banks
Assessed compliance with IFRS impairment requirements
Evaluated the impact on financial reporting practices
Increased adherence to IFRS standards among public interest entities
Enhanced transparency in financial reporting
Significant improvement in understanding impairment requirements among banks

Abstract

Global accounting seeks to harmonize financial reporting by formulating regulations that are largely uniform across countries. The International Accounting Standards Board (IASB) advocates for worldwide adoption of International Financial Reporting Standards (IFRS) to ensure consistency and comparability in financial statements. In Nigeria, the adoption of IFRS was officially launched in September 2010 by the Honourable Minister of Commerce and Industry, Senator Jubril Martins-Kuye (OFR). The implementation schedule required Public Limited Companies and entities of significant public interest to adopt IFRS by 2012 for statutory purposes, with all other public interest entities following by 2013, and small and medium-sized entities by 2014. This initiative has significantly influenced financial reporting practices and enhanced transparency in Nigeria

Compliance With Impairment Requirements for Non-Current Assets: Evidence From Nigerian Banks

Key Points

Abstract

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