Risk Management Committee Effectiveness and International Financial Reporting Standards 7 (IFRS7) Compliance by Listed Banks in Nigeria

This paper empirically assesses the relationship between risk management committee effectiveness and IFRS7 compliance. A sample of fourteen out of nineteen listed banks in Nigeria with financial year ended December 31, 2013 is selected for the study for reason of data availability. Empirical results using OLS regression show significant positive relationship between the dependent variable and the independent variables, which reveal high compliance of 81%. The paper recommends intensive monitoring and enforcement by the newly established regulatory authority- the Financial Reporting Council of Nigeria (FRCN) so as to sustain and even improve compliance in the long run.