Audit Committee Quality and Financial reporting in Deposit Money Banks in Nigeria.

Madugba, Joseph U, Howell, Kerry E., Ikechukwu Nwanji, Tony, Faye, Sainey, Egbide, Ben-Caleb and Felix Eluyela, Damilola (2021) Audit Committee Quality and Financial reporting in Deposit Money Banks in Nigeria. Asian Economic and Financial Review. ISSN 2305-2147 (In Press)

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Abstract

The credibility of financial reporting is crucial as it assures the user of its realism; this mandated a crux to examine the effect of audit committee quality on the financial reporting quality of deposit money banks in Nigeria. The descriptive research design was adopted, and secondary data sourced from annual accounts of seven deposit money banks for seven years were used to test our hypotheses. The dependent variable in this study is financial reporting quality measured with accrual model. In contrast, the independent variables were number of members of the audit committee with accounting and finance knowledge, size of the audit committee, number of audit committee meetings held in a year, and audit committee independence. Descriptive Statistics, normality test, multicollinearity test and regression analysis were conducted. A significant outcome revealed that except for several audit committee meeting held in a significant year, other variables were found to be insignificant, hence are not determinant of financial reporting quality in deposit money banks in Nigeria. The study concluded that audit committee quality is not a determinant of financial reporting quality in deposit money banks in Nigeria. The study recommended that ability should be paramount for the appointment of members of the audit committee and advises of the audit committee should always be given adequate and consideration by management in decision making

Item Type: Article
Keywords: Audit committee, financial reporting quality, meetings, corporate governance
Depositing User: RED Unit Admin
Date Deposited: 03 Jul 2020 07:37
Last Modified: 22 Apr 2021 08:23
URI: https://bucks.repository.guildhe.ac.uk/id/eprint/18011

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