DOI: 10.36347/sjebm.2015.v02i05.001

Pages: 412-427

This study determines the effects of global in the financial regulatory changes on the existing accounting techniques in Nigeria. Survey research design was applied and sample size was determined using Taro-Yamane formula, Two hundred and eighty - six questionnaires were distributed among accounting practitioners and accounting academics drawn from six states of Nigeria. Analysis was done using Univariate Analysis of variance (UAV) to test the hypotheses. Result indicates that the hypotheses were all significant and the adoption of stakeholder based sustainability reports in line with the theoretical frame work of this study significantly improved the reporting pattern of Nigerian corporate firms. Furthermore, the international standards setters must provide the necessary support towards effective and speedy convergence. In view of this, the researcher recommends that as the compliance with IFRS procedure is compulsory, outfit with legal capacity to enforce the provisions of financial regulatory council on any failure should be put in place. While nurturing the IFRS implementation time table, the monitoring agency of government FRS, the central Bank of Nigeria and other regulatory bodies should ensure that ethical and corporate transparency are observed and sustainability of the environment are preserved.