Compliance with Regulatory Financial Reporting and Corporate Governance Practices in Selected Primary Mortgage Institutions in Nigeria
James O. Abiola, Solomon O. Ojo

Abstract
Licensed financial institutions render financial reports to the Regulatory Authorities. The returns expected to be rendered include Call Reports, Audited Financial Statements and Statement of Deposit Liabilities certified by the External Auditors. In addition, Audited Financial Statements rendered to the Regulatory Authorities should comply with the Companies Act and take cognizance of relevant accounting standards such as SAS No 10 and 15.
The main objective of this study was to obtain stakeholders opinion on compliance with regulatory financial reporting requirements by selected PMIs in relation to the returns listed above. In addition, the study obtained stakeholders opinion on the relationship between compliance with regulatory financial reporting requirements and corporate governance practices cum performance in selected institutions. The methodology of judgmental sampling through delivery and collection of questionnaires targeted at three stakeholders groups was used. The study found that PMIs largely complied with regulatory financial reporting requirements. However, the perception about compliance was influenced by the group of the respondents. Operators that work in PMIs rated compliance to be very high while at the other extreme, customers and member of the public rated compliance to be very low. Most respondents indicated that institution of best corporate governance practices in the PMIs would have positive impacts on compliance. It was also submitted, with different level of believe, that compliance would have positive impacts on the performance of the PMIs.

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