Determinants of Compliance with International Financial Reporting Standard 6 by Quoted Intergrated Oil and Gas Companies in Nigeria

This study assessed the determinants of compliance with IFRS 6 by quoted integrated oil and gas companies in Nigeria. The data are collected from annual reports and accounts of sampled integrated companies in Nigeria for the period of six years (2012 to 2017). Compliance index, descriptive statistics, correlation and regression were used as technique of data analysis. The result revealed that quoted integrated oil and gas companies in Nigeria have strongly complied with the requirements of IFRS 6 which is about 84%. It also revealed that age and leverage positively and significantly influenced compliance with IFRS 6 while company size, return on asset and audit type insignificantly influenced compliance with IFRS 6. The study recommends that International Accounting Standard Board, Financial Reporting Council of Nigeria and other relevant regulatory bodies should enlighten corporate bodies, individual and other stakeholders on the benefits derivable from compliance with requirements of IFRSs. The study also recommends that, integrated oil and gas companies in Nigeria should employ the services of good accounting firms as it positively influence compliance.