This study examines the extent of adoption of International Financial Reporting Standards (IFRS) for SMEs by Nigerian Small and Medium Enterprises by Nigerian (SMEs), the level of awareness and the hindrances preventing the adoption of IFRS for SMEs in Nigeria. The survey research method was adopted in data collection while one sample t-test was used to test the hypotheses formulated for the research study. The analysis of responses from the administered questionnaires showed that although there was awareness of IFRS for SMEs by Nigerian SMEs, the extent of adoption was low, and there were impediments preventing the adoption of the standard by Nigerian SMEs such as complexity of the standard, lack of interest and inadequacy of accountants that were IFRS competent. The study recommends that more awareness of IFRS for SMEs should be created among owners, managers, accountants, auditors and stakeholders of SMEs, and they should also be encouraged to adopt the standard by emphasizing the incentives associated with IFRS adoption. Professional Accounting bodies such as ICAN and ANAN should also provide subsidized training through events such as seminars and workshops, and management teams of SMEs should show interest in the standard, and encourage their employees to do the same by sending them for trainings.
International Financial Reporting Standards (IFRS), awareness, hindrances