MJAMR

Relationship Between Financial Reporting Standards And The Financial Performance Of Centenary Bank Kassanda

Kansiime Sarah, Kabanda Richard


Abstract

The study investigated the relationship between financial reporting standards and financial performance of Centenary Bank Kassanda branch in Uganda. Utilizing a descriptive correlational research design, data was collected from 76 respondents through structured questionnaires and document analysis, then analyzed using SPSS version 25. The findings revealed a significant positive relationship (r=0.698, p<0.01) between adherence to financial reporting standards and financial performance. The study concluded that comprehensive compliance with International Financial Reporting Standards (IFRS) substantially enhanced financial transparency, stakeholder confidence, operational efficiency, and overall financial performance. Recommendations included strengthening internal audit mechanisms, investing in continuous professional development for accounting staff, adopting advanced financial reporting software, and establishing robust monitoring frameworks to ensure sustained compliance with evolving financial reporting standards.

Keywords

Financial reporting standards IFRS financial performance profitability banking sector
Metropolitan Journal of Academic Multidisciplinary Research

Cite This Article

Kansiime Sarah & Kabanda Richard (2025). Relationship Between Financial Reporting Standards And The Financial Performance Of Centenary Bank Kassanda. Metropolitan Journal of Academic Multidisciplinary Research, 4(12). https://journals.miu.ac.ug/pages/article.php?article_id=525

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