BUSINESS AND FINANCE JOURNAL

AUDIT FIRM ATTRIBUTES AND FINANCIAL REPORTING TIMELINESS

IKHARO, CHRISTOPHER ORHE, OHIOKHA, GODWIN PhD
June 26, 2023

Abstract

This study seeks to assess the influence of audit company qualities on financial reporting timeliness. The non-oil manufacturing companies listed on the Nigerian Exchange Group (NGX) that have been in operation since at least the year 2000 make up the study's population. 71 samples from the entire population were chosen for this investigation using simple random selection. The study's data came from published annual reports of the companies chosen for the study. Multiple regression analysis was employed in the study to analyse the data, and the E-view 8.0 statistical tools were used to estimate the model's parameters. The study used the analysis of pooled data. The results of the study show that audit fee has a negative but not statistically significant influence on timely financial reporting, audit firm size has a positive and statistically significant effect, and audit tenure and joint audit have a negative and statistically significant effect. The study suggests, among other things: that businesses should not always seek out audit firms that charge high fees because doing so does not guarantee a swift completion of the audit work; that businesses should not switch audit firms too frequently because this will allow the auditor to use their experience to ensure a swift completion of the audit work for early and timely financial reporting; and that businesses should engage joint auditors in order to benefit from the synergistic advantages that can be derived from doing so.

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BUSINESS AND FINANCE JOURNAL

Published in BUSINESS AND FINANCE JOURNAL

ISSN: 988-47878

This article appears in our peer-reviewed academic journal

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