Global Advanced Research Journal of Management and Business Studies (GARJMBS) ISSN: 2315-5086 March 2012 Vol. 1(2), pp 051-060

Copyright © 2012 Global Advanced Research Journals   

 

Original Research Articles

An evaluation of the regulatory framework for the prevention of misstatement of financial statements in Nigeria                    

Paul Aondona Angahar 

Senior Lecturer / Deputy Dean, Department of Accounting, Faculty of Management Sciences, Benue State University, Makurdi. Nigeria.

E-Mail: angahar63@yahoo.co.uk: Tel: +234-706-801-0515 

Accepted  20 February, 2012; Received 27 January 2012

 

Abstract

The paper seeks to describe the operations of the regulatory framework for the prevention of financial statement misstatement/manipulation in Nigeria, which is provided by the Securities and Exchange Commission (SEC) and to assess the extent of its effectiveness in preventing misstatement/manipulation of financial statements in financial reporting in Nigeria. The Descriptive method was employed for the study; data were collected through interviews and documentary evidence. Using descriptive statistics consisting of frequencies, a measure of central tendency, visual representations made up of the bar chart, pie chart, and time series plot, the data were analyzed. The findings of the study indicated that the SEC is effective to the extent of detecting a mean of 25 cases of financial statements misstatement/manipulation annually for the study period 2003 to 2010 and thus prevented or deterred them. The regulatory agency has however been reluctant in applying the full force of the law in the enforcement of accounting rules. 

Keywords: Regulatory framework, Accounting rules, Misstatement, Manipulation, Financial Statements, Enforcement.

Related Articles


Original Research Articles
Khalaf Taani
The Relationship between Capital Structure and Firm Performance Evidence from Jordan
Glo. Adv. Res. J. Manage. Bus. Stud. November 2013 Vol: 2(11): - [Abstract] [Full Text - PDF] (79 KB)
Sanaa Abusin
Dynamic deterrence analysis of factors affecting the management of Sudan’ fishery.
Glo. Adv. Res. J. Manage. Bus. Stud. February 2014 Vol: 3(2): - [Abstract] [Full Text - PDF] (200 KB)
Godfred Owusu-Boateng and Kafui Korshiwor Amuzu
A survey of some critical issues in vegetable crops farming along River Oyansia in Opeibea and Dzorwulu, Accra-Ghana
Glo. Adv. Res. J. Manage. Bus. Stud. September 2013 Vol: 2(2): - [Abstract] [Full Text - PDF] (419 KB)
Robert Nzaro, Kosmas Njanike, Eunice Jaravani
The Impact of Regulation Policy on Product and Service Delivery of Micro Financial Institutions A Case of Zimbabwe
Glo. Adv. Res. J. Manage. Bus. Stud. September 2013 Vol: 2(9): - [Abstract] [Full Text - PDF] (137 KB)
Jamal Seifdavati and Akbar Taghizadeh
Fatty acid composition of meat from lambs fed diets containing moist heat treated legume grains
Glo. Adv. Res. J. Manage. Bus. Stud. May 2012 Vol: 1(2): - [Abstract] [Full Text - PDF] (276 KB)
Review
Moses, Ajeka and Okoroafor George, Eme Okechukwu I
Reforming the 2004 Pension Act The Challenges A Head
Glo. Adv. Res. J. Manage. Bus. Stud. November 2014 Vol: 3(11): - [Abstract] [Full Text - PDF] (159 KB)

Current Issue

Viewing Options

View Full Article - PDF
Download Full Article - PDF

Search for Articles

Angahar Paul Aondona on Google Scholar
Angahar Paul Aondona on Pubmed

Statistics

Viewed 2157
Printed 1921
Downloaded 1845
Powered By iPortal Works