STAKEHOLDERS’ PERCEPTION OF THE IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARD ADOPTION ON FINANCIAL REPORTING QUALITY OF DEPOSIT MONEY BANKS IN NIGERIA

This study investigates stakeholders’ perceptions of the impact of International Financial Reporting Standards (IFRS) adoption on financial reporting quality in Nigerian Deposit Money Banks (DMBs). Anchored on stakeholders’ theory, the research aims to understand whether IFRS has improved the clarity, consistency, and strategic value of financial statements. Using a structured questionnaire administered to 80 professionals including bank staff, auditors, and financial analyst’s data was analyzed through descriptive statistics, correlation, regression, and moderation analysis. Results indicate that IFRS adoption significantly enhanced reporting transparency and decision-usefulness, though comparability showed moderate gains due to interpretational variances among institutions. Importantly, implementation challenges such as limited training, cost burdens, and regulatory inconsistencies were found to weaken the positive effects of IFRS adoption. The study concludes that while IFRS has improved financial disclosure practices within Nigerian DMBs, its full potential depends on stakeholder literacy, system readiness, and sustained regulatory support. Recommendations include targeted IFRS training, enhanced enforcement, and integration of stakeholder feedback especially in the rollout of future sustainability standards such as IFRS S1 and S2.