IAS 37 and Financial Reporting Quality of Listed Oil and Gas Companies in Nigeria

Authors

  • Gbenga Samuel Olorunfemi Department of Accounting, Crescent University, Abeokuta, Ogun State, Nigeria
  • Siyanbola Tunji Department of Accounting, Crescent University, Abeokuta, Ogun State, Nigeria

DOI:

https://doi.org/10.33003/fujafr-2025.v3i3.217.143-155

Keywords:

Audit Quality, Compliance, Disclosure, IAS 37, Panel Data

Abstract

Financial reporting quality (FRQ) in Nigeria’s oil and gas sector has been undermined by weak disclosures, opaque recognition of provisions, and limited regulatory enforcement. This study examines the effect of IAS 37: Provisions, Contingent Liabilities, and Contingent Assets on FRQ among listed firms, using audited annual reports from 2020 to 2023. A mixed-method approach combining content analysis and panel regression was applied. The results show that both recognition compliance and disclosure quality significantly enhance FRQ, with disclosure quality exerting the stronger influence. Unlike previous Nigerian studies, this research develops a disclosure-based index of FRQ and integrates it with firm-level factors such as audit quality and leverage. The findings highlight the importance of robust enforcement, clearer disclosure practices, and high-quality audits in strengthening transparency and investor confidence in the extractive sector.

References

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Published

30-09-2025

Issue

Vol. 3 No. 3 (2025): September 30, 2025

Section

List of Contents

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How to Cite

Olorunfemi, G. S., & Tunji, S. (2025). IAS 37 and Financial Reporting Quality of Listed Oil and Gas Companies in Nigeria. FUDMA Journal of Accounting and Finance Research [FUJAFR], 3(3), 143-155. https://doi.org/10.33003/fujafr-2025.v3i3.217.143-155

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