Abstract
Purpose: Integrated reporting is a process founded on integrated thinking, with the aim of issuing periodic integrated reports by firms about value creation over time. This study investigates the effect of board attributes (independence, diligence, and size) on the quality of integrated reporting of Nigerian listed oil and gas firms.
 Design/Methodology: Panel data are obtained from annual reports of a purposive sample of 10 out of the 12 listed Oil and Gas firms in Nigeria from 2013 to 2017. These are analyzed using multiple regression techniques, via STATA 13.0 software.
 Results: Based on the analysis conducted, findings show that the board independence and board size have a significant and positive effect, while board diligence has an insignificant and positive effect on the quality of integrated reporting, proxied by integrated reporting disclosure score (IRDSCORE). This outcome implies that having the optimum mix of members on the board influences the extent of integrated disclosures of listed oil and gas firms in Nigeria.
 Practical Implications: Global corporate reporting is currently driving towards integrated thinking, incorporating financial, governance, social and environmental issues to promote long-term value creation. As a third world nation, the adoption of integrated reports is voluntary in Nigeria. However, considering the information needs of all stakeholders and appointing qualified persons on the board by shareholders, and formulating enabling policies in this direction by regulatory agencies would drive corporate reporting to be more integrative to drive long-term value maximization.
Highlights
The preparation and publication of financial statements have been the basic way through which management communicates business activities to owners and other stakeholders
This study examines the relationship between board attributes and the quality of integrated disclosures of listed oil and gas firms in Nigeria, based on the International Integrated Reporting Council (IIRC) integrated reporting framework
Based on the regression result, the study found that board independence and board size have a significant and positive effect on the quality of integrated disclosures of the sampled firms; while board diligence has an insignificant and positive effect on the extent of integrated disclosures of the firms using the IIRC integrated reporting framework
Summary
The preparation and publication of financial statements have been the basic way through which management communicates business activities to owners and other stakeholders. Integrated reporting attempts to merge financial and non-financial information, developing the integrated thinking, underlying the interdependencies between them, improving the quality of information, and identifying the material issues that affect the business, which lead to a better allocation of resources. All these elements support decision making and actions that are focused on value creation over the short, medium, and long runs (Hurghis, 2017). The board has to maintain a comprehensive and cost-efficient communication channel for disseminating relevant information, including material non-financial and sustainability reports, which are crucial for informed decision-making by investors, stakeholders and other interested users. Sections four and five present the results and discussion as well as conclusion and recommendations respectively
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