UUM Electronic Theses and Dissertation
UUM ETD | Universiti Utara Malaysian Electronic Theses and Dissertation
FAQs | Feedback | Search Tips | Sitemap

The effect of audit committee, risk management committee and block holder ownership on IFRS 7-financial instruments disclosure compliance of financial institutions in Nigeria

Zango, Adamu Garba (2016) The effect of audit committee, risk management committee and block holder ownership on IFRS 7-financial instruments disclosure compliance of financial institutions in Nigeria. PhD. thesis, Universiti Utara Malaysia.

[thumbnail of s95223_01.pdf] Text
s95223_01.pdf
Restricted to Registered users only

Download (1MB)
[thumbnail of s95223_02.pdf]
Preview
Text
s95223_02.pdf

Download (806kB) | Preview

Abstract

The main objective of this study is to examine the extent of compliance with International Financial Reporting Standards 7 (IFRS 7) financial instruments disclosure requirements by listed financial institutions in Nigeria. In addition, this study investigates the relationship between corporate governance characteristics and IFRS 7, and also examines the moderating role of blockholder ownership on the relationship between corporate governance characteristics and IFRS 7. Panel data from the annual reports of 50 sampled financial institutions which consist of 20 banks and 30 insurances companies for a period of 3 years (2012-2014) were used in the study. Findings of the study indicate that the compliance with IFRS 7 is at 51% and showed steady improvement. In terms of risk type, the compliance was found to be lower in market and liquidity risk as compared to financial risks. The audit committee size, expertise, independence and meeting frequency are found positively and significantly affect IFRS 7 compliance. Similarly, risk management committee independence shows positive relationship with IFRS 7 compliance. The interaction between blockholder ownership and audit committee independence and risk management committee independence with IFRS 7 compliance shows significant and positive relationship. In this regard, the policy makers in Nigeria should formulate forward looking policies aimed at enhancing the role of independence in the audit and risk management committee to bring about strong internal control activities. They should also strengthen dealings on financial relationship between blockholding investors and minority shareholders to restore the confidence hitherto enjoyed by the Nigerian financial institutions. Findings of the study provide the needed input for policy formulation and decision making in Nigerian financial institutions.

Item Type: Thesis (PhD.)
Supervisor : Kamardin, Hasnah and Ishak, Rokiah
Item ID: 7729
Uncontrolled Keywords: IFRS 7 compliance, corporate governance characteristics, audit committee independence, blockholder ownership
Subjects: H Social Sciences > HF Commerce. > HF5667 Professional Ethics. Auditors.
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Date Deposited: 04 Jun 2020 02:16
Last Modified: 04 Jun 2020 02:16
Department: Tunku Intan Safinaz School of Accountancy (TISSA)
Name: Kamardin, Hasnah and Ishak, Rokiah
URI: https://etd.uum.edu.my/id/eprint/7729

Actions (login required)

View Item
View Item