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概要
Effects of COVID-19 pandemic on accounting and financial reporting in Nigeria
Raimi Adekunle ANISERE-HAMEED
The predicament that befell the entire world as a result of the Covid-19 has been a matter of concern researchers. This paper hereby examines the effects of COVID-19 pandemic on accounting and financial reporting in Nigeria. The objectives of this paper are to ascertain the differences between the published financial reporting before and during COVID-19 era; determine how firms in Nigeria reported events after the reporting period during the COVID- 19 era as recommended by the Financial Reporting Council; ascertain the extent to which COVID-19 affects the going concern of firms in Nigeria; determine how COVID-19 affects the interim financial reporting affected; and to examines how firms in Nigeria reported changes in expected credit losses for financial assets as stated in the guideline recommended by Financial Reporting Council during COVID-19 era. The study employs cross-sectional approach where data were collected at a particular point in time from different companies. Secondary financial data was collected from multiple sample sources to ensure a fair representation, namely: The Manufacturing sector, financial sectors and conglomerates of the Nigerian economy. Independent t-test and Logit Binary Regression Model was employed to test the hypotheses of the study using SPSS version 25. This paper revealed that there is significant difference between the published financial reporting before and during COVID-19 era; COVID-19 has significant effect on the events after the reporting period, going concern of firms in Nigeria, interim financial reporting, and COVID-19 has significant effect on changes in expected credit losses for financial assets. Arisen from the findings of this study, this paper recommended that management of industries should embrace all the COVID-19 precautions, and government should salvage this devastating effect of COVID-19 by channeling more funds to the sectors affected by the pandemic.