EFFECT OF ETHICAL PRACTICES ON FINANCIAL REPORTING OF DEPOSIT MONEY BANK IN NIGERIA(A STUDY OF FIRST BANK OF NIGERIA PLC 2013 - 2023)

Abstract

The research work entitled “Effect of ethical practices on financial reporting of deposit money bank in Nigeria: A Study of First Bank of Nigeria Plc 2013 – 2023”. The specific objectives of the study were to: examine the effects of integrity on the financial reporting of deposit money banks in Nigeria, determine the effect of professional competence on the financial reporting of deposit money banks in Nigeria, assess the effect of objectivity on the financial reporting of deposit money banks in Nigeria. A survey research design was adopted for the study. A total population of one hundred and fifty (150) staff were used for the study while sample size same of one hundred and nine (109) respondents were adopted. Data collected were analyzed using simple table and percentage analysis while the hypotheses formulated were tested using ordinary least square (OLS) techniques. The study revealed that integrity, professional competence and objectivity have significant effect on financial reporting of deposit money banks in Nigeria. The study concludes that integrity has significant effect on financial reporting of deposit money banks in Nigeria, that professional competences have significant effect on the financial reporting of deposit money banks in Nigeria, and that objectivity has significant effect on financial reporting of deposit money banks in Nigeria. It therefore recommended that the management and board of deposit money banks should establish policies and make use of opportunities that foster the development of professional ethics among their staff so as to improve the timeliness and verifiability of their financial statement.