Sustainability Information Disclosure and Financial Reporting Quality of Listed Non-Financial Firms in Nigeria

Abstract

The study assessed the quality of Financial Reporting and investigated the relationship between Sustainability Information Disclosure and Financial Reporting Quality of listed Non-Financial Firms on the Nigerian Stock Exchange. Purposive Sampling Technique was adopted to select a sample of fifty (50) listed Non-Financial Firms among the population of one hundred and twenty-eight Non-Financial Firms based on the availability of their annual reports. Secondary data obtained through content analysis were analysed using descriptive statistics and multiple regression analysis. The study found that there is an increasing trend in the Financial Reporting Quality of listed Non-Financial Firms. Also, sustainability Information disclosure on socio-environmental policy and environmental research and development have significant positive influence on Financial Reporting Quality of Non-Financial Firms Listed on the Nigerian Stock Exchange. The Study recommended that The Financial Reporting Council of Nigeria (FRC), Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) should form a common front for monitoring compliance with Sustainability Reporting Guidelines and engage in continuous education of the Corporate Stakeholders on use of the Social, Economic and Environmental information in the Annual Reports.