CONCLUSION AND RECOMMENDATIONS
It can be concluded that the increasingly global nature of business environment coupled with the complexity of
financial dealings propelled the adoption of IFRS. There have been some successes achieved in respect of IFRS
adoption in countries like Ghana and Zambia. It is an obvious fact that the adoption of IFRS is being pursued in
order to provide effective quality financial information.
Based on this conclusion, the following recommendations are made
1. Standard setter such as Nigeria accounting standard board, financial accounting standard board and
international financial reporting standard board should integrate the knowledge on the adoption of
international accounting standard more in our institution curriculum. Accounting trainer should
incorporate the teaching of this standard into all levels of accounting education for proper awareness of
the standard.
2. Regulatory authority such as security and exchange commission Nigeria stock exchange federal board
of Inland Revenue service should encourage all members and stakeholders to adopt as single financial
reporting standard that will reduce information asymmetry in our economy.
3. All accounting information stakeholders are to be educated on the importance of adopting international
accounting standard before it can be made mandatory for them and how it could help to ascertain
corporate performance sustainability.