Citation:

Oluseyi Abraham Olayinka (Ph.D.), Olaitan Daniel Alabi (Ph.D.), Oluyemi Mary Kolapo, Olumuyiwa Olayanju. "Conceptual Perspectives on Financial Reporting Standards under the 2025 Investment and Securities Act of Nigeria" International Research Journal of Economics and Management Studies, Vol. 5, No. 3, pp. 44-51, 2026. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V5I3P107

Abstract:

The paper is a conceptual review of the Investment and Securities Act (ISA) 2025 in Nigeria and its effects on the quality of Financial Reporting (FRQ). The paper is based on theories such as Agency, Regulatory Compliance, Institutional, and Stakeholder to analyse the impact of the Act on transparency, comparability, timeliness, and accountability in Nigeria's capital market. The review, based on a systematic review of the peer-reviewed literature, statutory instruments, and policy reports benchmarked against IFRS, SOX, and the EU Transparency Directive, as well as MiCA, demonstrates that ISA 2025 is an important step towards global convergence in reporting regulation. It strengthens the authority of the Securities and Exchange Commission (SEC), introduces liability reforms, and includes regulation of digital assets. Nevertheless, institutional weakness, selectivity, and a show of compliance jeopardize substantive results. In theory, ISA 2025 is aligned with international best practices, but its success is dependent on the strength of enforcement, independence of regulations, and the culture of governance. The paper also adds to the global literature by establishing ISA 2025 as a model of reforming emerging economies as well as a warning of the capacity-implementation gap.

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Keywords:

Financial Reporting Quality, ISA 2025, Regulatory Compliance, Institutional Theory, IFRS, SOX, Transparency, Enforcement, Emerging Markets, Nigeria.