IFRS reporting – Matters arising on Derivatives
It is over six years that Nigeria adopted the International Financial Reporting Standards (IFRS) to align the country with global reporting. Initially, there was deep apprehension around the success potentials of the implementation roadmap. Some people/entities thought that the road map may be hitched and may have to be suspended at a point in time; but that is not the reality at this moment. The reality is that IFRS reporting has debuted successfully and every stakeholder (private and public sector) is expected to hone their understanding and skills for compliance with this global reporting framework.