Imperative of Adopting Integrated Reporting by Quoted Companies in a Volatile Global Economy: Nigeri

Integrated reporting (IR) is a new area of corporate reporting built in the short, medium and long term for corporate organizations to ensure sustainable value formation. Therefore, the main objective of this paper was to assess the extent of the adoption by quoted companies in Nigeria of integrated reporting standards and practices as contained in the system. A documentary combined with a descriptive analysis methodology was introduced due to the lack of data from the reporting agencies on the implementation of integrated reporting. Using the purposeful random sampling process, the sample size was determined, which led to the selection of one (1) critical company from each industry, making a total of 12 (12) companies listed on the Nigerian Stock Exchange. This study will provide companies planning to prepare and present integrated reports and those already doing so with fresh and deep introspection. A relevant f-value of .65 (P-value = .089 > .05) is shown by the outcome of the tested hypothesis; this leads to the acceptance of the null hypothesis. This shows that there is no substantial proof of the convergence of the acceptance and practice of reports by quoted companies in Nigeria. This outcome may be due to the recent exposure of integrated reporting and the lack of a legislative structure to sustain it in Nigeria. As a result, it was proposed that companies listed on the Nigerian Stock Exchange should be enlightened and encouraged to follow the standards and practices of integrated reporting, as this will enhance the company's accountability and transparency structure. Furthermore, one of the main criteria for companies to be listed on the Stock Exchange should be the complete implementation of integrated reporting frameworks.

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