📄 Abstract
The study examined the impact of IFRS 6 adoption on the performance reporting among petroleum companies listed in the Nigerian exchange group. The study used a descriptive survey design by sampling 100 respondents from ten audit/financial service firms. Data were collected through a validated questionnaire. This study utilised correlation and regression analyses to analyse the data. The result suggested a substantial association between IFRS 6 adoption and transparent performance reporting. Similarly, the study found that the provisions of IFRS 6 on recognition, measurement, and disclosure have a substantial implication on the performance reporting of quoted oil and gas firms in Nigeria. In light of this result, the study recommends that companies should ensure accurate and consistent recognition and measurement of exploration and evaluation (E&E) assets. Robust accounting policies and procedures should be developed and implemented to achieve this objective.
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📚 How to Cite:
Ihenyen Joel Confidence PhD, Pinaowei Cleavis Clark, Onyia Bartholomew Onyekachi , EFFECT OF INTERNATIONAL FINANCIAL REPORTING STANDARD 6 ON PERFORMANCE REPORTING IN THE OIL AND GAS INDUSTRY IN NIGERIA , Volume 11 , Issue 7, july 2024, EPRA International Journal of Economics, Business and Management Studies (EBMS) ,