AN EVALUATION OF THE LEVEL OF BANK” COMPLIANCE WITH ACCOUNTING STANDARDS ISSUED BY THE NIGERIA ACCOUNTING STANDARDS BOARD (NASB)

INTRODUCTION
Accounting has been widely regarded world wide as an information system through which financial and magnetized information is generated for economic groups companies, individuals or even countries have made various attempts in 1494 a roman catholic priest father Luca Pacioli published a text on double entry, which till today formed a strong basis of accounting particularly the book keeping aspect. Accounting finds practical application in almost all facets of life it is therefore important that relevant information disclosure be made in financial reports in the united states of America the 1929 stock market crash and the economic depression of the 1930s generated and accentuated the need for greater disclosure requirements in financial reports. This pioneering effort led to the establishment of the first Securities and Exchange Commission in 1933 which was empowered to set up body to issue accounting and auditing standards them. A similar accounting institution was established in United Kingdom in the 1970s with almost a similar objective know as accounting steering committee (ASC). In Nigeria, disclosures in financial reports started with the companies ordinance of 1922 (as amended) and through to the companies Act 1968 and now the companies and Allied matters Act 1990. The Nigerian accounting standards board (NASB) is also involved in the efforts at evolving and promoting financial disclosure. The NASB was established in 1982 with the rower to set and issue accounting standards which have to be complied with while preparing financial statement. Before the promulgation of the companies and Allied matters Decree (CAMD) 1990, which has now become an act under the civilian administration in Nigeria, compliance of financial statement with accounting standards was persuasive but with the coming of CAMD of 1990, financial disclosure by companies is now a mandatory requirement
TABLE OF CONTENTSTitle pageiApproval pageiiDedicationiiiAcknowledgementivAbstractvTable of contentsvi
CHAPTER ONE1.1INTRODUCTION11.2Objectives of the study 21.3Significance of the study21.4Scope of the study31.5Limitation of the study3
CHAPTER TWO
2.1 BACKGROUND42.2 Compliance with the requirement of CAMD42.3 Problems of NASB52.4 The penalties for failure to comply with the SAS6
CHAPTER THREE3.1Summary, finding conclusion and recommendation83.2Summary findings83.3Conclusion83.4Recommendation9Reference11