This study empirically examined the effect of changes in accounting standards particularly the consequence of the adoption of IFRS on FDI inflows of Selected African countries for the period 1980 – 2015. The study obtained data from six African countries for the period of study, these include: Egypt, Nigeria, Kenya, Morocco, Tunisia, and South Africa. We investigated the effect of accounting standards measured by the adoption of IFRS on FDI alone and further introduced control variables of Exchange Rates, Inflation Rates and GDP. The empirical analysis began with the descriptive test; the granger casualty test, hausman test, and regression analysis were further performed. The results indicate that adoption of IFRS has a significant positive effect on FDI inflows, although the coefficient of determination was only 12.7%, however, when other control variables were introduced it shows adjusted R2 of 37%, this is in line with the granger casualty test, which indicates that IFRS cannot singularly be used to predict FDI inflows. We therefore conclude that adoption of IFRS alone cannot guarantee increased FDI inflows to African countries and care must be taken as to policies developed to attract FDI. We recommend that right policies should be set to aim at making African countries economically stable to be able to attract foreign direct investment.