Adoption of IFRS: Implication of Event after Reporting Period on Auditors’ Reports

27 Pages Posted: 6 Feb 2017

See all articles by Prof. Godwin Emmanuel Oyedokun

Prof. Godwin Emmanuel Oyedokun

Lead City University Ibadan Nigeria ; OGE Professional Services Ltd; Nasarawa State University, Keffi

Date Written: December 21, 2015


Adoption of the International Financial Reporting Standards (IFRS) has come to stay in Nigeria as all Public Listed Entities and Significant Public Interest Entities are by now expected to be with full compliance of the relevant provisions if the standard. This paper examined the adoption of IFRS in Nigeria and the implication of the International Accounting Standard (IAS) 10- event after reporting period on auditors’ reports. This paper discusses the adjusted and non-adjusted transactions as it affect the financial statement already prepared but still within approving period though after reporting period (fiscal year). Meta-analysis was adopted by reviewing the available literature in the field of this study. It was discovered that some adjusting events do poses reconciliation issues to the eventual finalisation of the financial statement and non-adjusting events in the same vein adds to the responsibilities of auditors in ensuring that such are adequately disclosed.

Keywords: IFRS, IAS, Reporting Period, Financial Statements, Auditors’ reports

JEL Classification: M41, M47, M49

Suggested Citation

Oyedokun, Godwin Emmanuel, Adoption of IFRS: Implication of Event after Reporting Period on Auditors’ Reports (December 21, 2015). Available at SSRN: or

Godwin Emmanuel Oyedokun (Contact Author)

Lead City University Ibadan Nigeria ( email )

+2348033737184 (Phone)


OGE Professional Services Ltd ( email )

2nd Floor, Back Wing, 28, Adeyemi Street, Off LUT
Mushin, Lagos

Nasarawa State University, Keffi ( email )

Department of Accounting
Faculty of Administration
Keffi, Nasarawa 234
+23480833737184 (Phone)

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