GASPRO International Journal of Eminent Scholars

The study examined the influence of international financial report standard adoption on the financial performance of some select listed banks in Nigeria. The population of this study consisted of all the staff of some select banks in Akwa Ibom state of Nigeria, estimated to be 1645. The study adopted Expost-facto research design while simple random sampling technique was used in selecting the respondents. the instrument for data collection which was tagged “Adoption Of International Financial Report Standard And The Financial Performance” (IIFRSAFPQ) was administered to the respondents and used for the study. The instrument was vetted by expert in home economy and test and measurement before the reliability test was conducted with the use of thirty (30) respondents who did not form part of the main study which produced the reliability coefficient of 0.72 to 0.84 proving the instrument to be reliable for the study. Data collected were analyzed using descriptive statistics and pearson product moment correlation analysis. From the results of the data analysis, it was observed that there is significant relationship between the adoption of international financial reporting standards by banks and their financial performance with respect to net profit margin and loan to deposit ratio. It was recommended that government and the regulators should ensure that there is availability of training facilities and materials for professional accountants on the concept of international financial reporting standards and issues relating to it. Also, compliance with international financial reporting standards timetable should be mandatory and failure should be marched with appropriate sanctions.