IFRS FOR SMES ADOPTION IN THE NESI: A STUDY OF METER ASSET PROVIDERS
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IFRS reporting has been an avenue for good accountability of an organization in which small and medium-scale enterprises cannot be left out. The federal government of Nigeria has mandated the adoption of IFRS in its financial reporting (including SMEs), for accountability and comparison. To attract foreign investments. This study examines the challenges and benefits of adopting IFRS for SMEs by the Meter Asset Providers (MAPs) SMEs in the NESI on their financial reporting. Data was collected using the survey design method of structured questionnaires administered to selected sample sizes in the MAPs. The study concludes that significant concludes that adopting IFRS for SMEs in the NESI significantly impacts the financial reporting outcomes of the entities as it employs t-tests on the samples. The study concluded that there are perceived benefits arising from the adoption of IFRS for SMEs in reporting their financial activities.
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