The result of research question five indicated that IFRS adoption would significantly enhanced the
uniformity, comparability and reliability of the financial statements. This result corroborated the assertion of
Spiceland, Sepe, Tomassini (2001) that useful accounting information derived from qualitative financial reports
help in efficient allocation of resources by reducing dissemination of information asymmetry and improving
pricing of securities. It also reduces the cost of preparing different version of financial statements where an
organization is a multi-national (Healy and Palepu, 2001). Accounting standards ensures that important matters
regarding preparation and presentation of financial statements as well as auditing same are not left to whim of the preparers and auditors.