ABSTRACT
The study examined the effect of Audit Committee
Characteristics on Financial Reporting Quality of listed Deposit Money Banks in
Nigeria (2006-2017). The increased cases of financial reporting manipulation and
scandals reported in the Nigerian banking industry have more than ever casts
doubts about their financial reporting quality. The effectiveness of the audit
committee over the years seems not to be fully actualized owing to some
financial scandals being experienced by organizations despite audit committees
being in full operations. This study used cross-sectional data sourced from the
financial report of selected Deposit Money Banks in Nigeria. A Five-variable
model was developed with the variables, Audit
Report Lag, Audit committee independence, Audit committee frequency of meeting,
Audit committee size and Audit committee financial expertise. Multiple
Regression analysis with an Ordinary Least Squares (OLS) estimation technique
was employed and the fixed effect model was selected with the aid of the
Haussman test. Given the outcome of the empirical analysis, findings revealed
that Audit committee independence; Audit committee frequency of meeting, Audit
committee size had positive and significant effect on financial reporting quality,
while Audit committee financial expertise has a negative and significant effect
on financial reporting quality. The study amongst other thing recommended that
to effectively improve audit committee independence the regulatory authority
should up its monitoring of the banks to ensure that banks Chief Executive Officers
do not influence the election/appointment of member of the audit committee, and
the regulatory authorities should make efforts to increase the minimum number
of meetings to be held by the audit committee
EMECHETA, E (2022). Effect Of Audit Committee Characteristics On Financial Reporting Quality Of Listed Deposit Money Banks In Nigeria. Repository.mouau.edu.ng: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-audit-committee-characteristics-on-financial-reporting-quality-of-listed-deposit-money-banks-in-nigeria-7-2
EMECHETA, EMECHETA. "Effect Of Audit Committee Characteristics On Financial Reporting Quality Of Listed Deposit Money Banks In Nigeria" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 11 Oct. 2022, https://repository.mouau.edu.ng/work/view/effect-of-audit-committee-characteristics-on-financial-reporting-quality-of-listed-deposit-money-banks-in-nigeria-7-2. Accessed 24 Nov. 2024.
EMECHETA, EMECHETA. "Effect Of Audit Committee Characteristics On Financial Reporting Quality Of Listed Deposit Money Banks In Nigeria". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 11 Oct. 2022. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-audit-committee-characteristics-on-financial-reporting-quality-of-listed-deposit-money-banks-in-nigeria-7-2 >.
EMECHETA, EMECHETA. "Effect Of Audit Committee Characteristics On Financial Reporting Quality Of Listed Deposit Money Banks In Nigeria" Repository.mouau.edu.ng (2022). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-audit-committee-characteristics-on-financial-reporting-quality-of-listed-deposit-money-banks-in-nigeria-7-2