Effect Of Audit Committee Characteristics On The Financial Performance Of Quoted Companies In Nigeria:- Okiyih, Florence C.

ABSTRACT

The composition and character of the audit committee plays significant role in influencing the organization performance. However, very few studies have addressed or shown how audit committee characteristics influence firms performance in Nigeria. This research aims at establishing the effect of audit committee characteristics on financial performance of quoted companies in Nigeria. To establish the effect of audit fee on firms performance, to ascertain the impact of audit meeting and determine the effect of audit independence, this study uses the agency theory and institutional theory. This study adopted an expo-facto design. The study was conducted in firms listed on the Nigeria stock exchange for the period ranging from 2010 to 2015. This study thus utilized data from four agro companies on the Nigerian stock exchange. Descriptive statistics where used to analyze the data. Multiple regression was used because its ability to use multiple independent, variables to estimate their effect on a single dependent variable. Research findings showed that the audit fee and audit independence have a significant effect on the profitability of a firm, whereas audit meeting have no significant effect on profitability ofthe firm. The presence of audit members with experience^will also reduce financial misreporting and increase quality monitoring in other words, having experienced audit committee members should be the major priorities for firms.