Qualitative Characteristics of Financial Statements and Quality of Financial Reports of Nigerian Banks
The concept of qualitative characteristics of financial statements have been used in many studies but the qualitative approach from the perceptions of relevant stakeholders have not been critically explored. The motivation for this study is to therefore examine the impact of relevance, reliability and comparability as the qualitative characteristics of financial statements on quality of financial reports of Nigerian banks from the perceptions of stakeholders. Two listed deposit money banks were judgmentally selected for the study while primary data were collected through self-administered copies of questionnaires from 65 purposefully selected out of 80 sampled preparers of financial reports. Multiple Linear Regression was adopted to analyze the data to test the relationship between the variables. The findings disclosed that there was a significant relationship between the qualitative characteristics of financial statements and quality of financial reports of the selected banks in Nigeria. It further indicated that relevance, reliability and comparability have significant impact on quality of financial reports of banks in Nigeria . It is therefore recommended that more attention should be given to these qualitative characteristics of financial statements since they have been empirically proven to be statistically significant in the preparation of financial reports of Nigerian Banks Keywords: Relevance, Reliability, Comparability, Quality of Financial Reports, Nigerian Banks