GLOBALISATION OF ACCOUNTING AND AUDITING STANDARDS

N. Nanthini, J. Sowdhasri

Abstract


Accounting and auditing practices are regulated with standards worldwide. The need for the development of accounting and auditing standards arose from the birth of joint stock companies in 1844, which was accompanied with separation of control and ownership.  This paper has therefore, been designed to examine the relevance of accounting and auditing standards in corporate financial reporting with emphasis on compliance with the standards for effective corporate financial reporting in Nigeria.


Keywords


Globalisation, Accounting, Accounting standards.

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