The effect of adoption of international financial reporting standards on quality of financial reporting by companies listed at Nairobi securities exchange.

Abstract

Accounting is shaped by economic and political forces. It follows that increased worldwide integration of both markets and politics driven by reductions in communications and information processing costs makes increased integration of financial reporting standards and practice almost inevitable. International Financial Reporting Standards (IFRS) is a standard format of financial reporting that is gaining momentum worldwide and is a single consistent accounting framework and has become predominant Generally Accepted Accounting Practice (GAAP). The aim of this study is to try and established the quality of financial reporting of companies who are adopting the international financial reporting standards.