JOURNAL OF ACCOUNTING AND BUSINESS

External audit has become a fundamental area of audit research in recent times especially after the classical cases of audit failure experiences in major corporations. Audit  of  Medium  Enterprises  have  proven  to  be  among  the  most worrisome  for  professional  accountants  because  of  the  inadequacy  of  the  internal  controls as argued. This study the effect of external audit opinion on return on asset of selected food and beverage manufacturing firms in Nigeria. Ex-post facto research design was employed for this study. The population of the study consists of fourteen (14) listed food and beverage registered and quoted on the floor of the Nigerian Exchange Group (NGX) as at May, 2023. A purposive sampling technic was adopted to select seven (7) out of the fourteen (14) listed food and beverage companies on the Nigerian Exchange Group archives for the period of 2009-2023. Inferential statistics such as Panel regression analysis was adopted to analyse the extent to which external audit opinion influence return on asset of selected food and beverage manufacturing firms in Nigeria. Findings from the result of panel regression on the extent to which external audit opinion influence return on asset of selected food and beverage manufacturing firms in Nigeria showed that three (3) out of the four (4) expiatory variable were significant in explaining the variation of profitability. These variables are eternal audit opinion (0.0913), regulatory oversight (0.0143) and eternal audit experience (0.0294) y. The study revealed that there is significant relationship between external audit opinion and return on asset of selected food and beverage manufacturing firms in Nigeria. It is therefore recommended that manufacturing firms should prioritize maintaining the independence of their external auditors. This can be achieved by implementing strict internal policies that limit the influence of management on audit processes

This study evaluates the effect of returns, volatility on herding behaviour in Nigerian financial market. Monthly data of stock, bond and treasury bills market prices from 2019 – 2025 are used with the aim of examining and comparing the performance of the assets’ returns and volatility and then the possible consequent cascading effects or herding behavior of investors across the markets. The major findings and consequent conclusions of this study are thus: Stock return is inversely correlated to Treasury bill return but directly correlated to bond return. Bonds and Treasury bills as expected are less volatile and their expected values are relatively fixed, while stocks are volatile and their expected values vary over time. Stock has the highest monthly rate of return followed by Treasury bills. The pattern of distribution of bond price/return is normal, but stock and Treasury bill return do not follow a normal distribution process. There is evidence that investors do not cascade or herd towards bond market. The cascading effects are most prominent in the stock market and there is little evidence that investors “herded” towards the Treasury bills market.  In view of the findings and conclusions, the following recommendations are made: Investors should diversify efficiently by holding a portfolio of either stocks and treasury bills or bond and treasury bills. They should discount inefficient diversification that arise when the same factors could influence the assets in a portfolio. Investors should invest in Treasury bill, and choose either bond or stock. Bond for natural risk averse investors and   otherwise stock for risk plungers. The stock and Treasury bill markets show high and moderate evidence of herding behaviour respectively occasioned by fear and panic. Rational investors could take advantage of this behaviour for higher returns by acting on the contrary to the herding instinct.

This study explores the impact of cybersecurity practices on digital accounting in Nigeria, focusing on critical variables including transaction recording technologies, data authentication, secure end-user computing utilities, cloud data security, data integrity, and data protocols for transactions. Employing a survey design, data were collected from sixty (60) accounting professionals across various sectors.The study utilised regression analysis to determine the relationship between cybersecurity measures and the effectiveness of digital accounting systems. The results reveal that robust cybersecurity practices are significantly associated with improved digital accounting outcomes, particularly in enhancing data integrity and secure transaction protocols. Conversely, weak cybersecurity measures were found to have a detrimental effect on the reliability of digital accounting systems, leading to increased vulnerabilities such as unauthorised access and data breaches. The study recommends strengthening cybersecurity frameworks in digital accounting through the implementation of advanced security technologies and regular cybersecurity audits. This research contributes valuable insights into the critical role of cybersecurity in safeguarding digital financial processes in Nigeria.

The study examined the effects of interest rates on the net interest margin of Deposit Money Banks in Nigeria for the period 1990 - 2024. Interest rate was considered in terms of bank deposit rate, bank lending rate, treasury bills rate and monetary policy rate. The study as such adopted a quasi-experimental research design whereby secondary data were relied upon. These data which were yearly time series data on the aforementioned variables were collected from the statistical bulletin of the CBN (Central Bank of Nigeria) and the World Bank. The data set obtained was subjected to descriptive analysis, ADF unit root test, and Autoregressive Distributed Lag (ARDL) short run analysis, bounds cointegration test and Error Correction Mechanism (ECM) estimation. Short run analysis revealed that lagged net interest margin (NIM), bank deposit and lending rates have negative effects on NIM while treasury bills and monetary policy rates have positive influences on NIM as only the effects of bank lending, deposit and monetary policy rates were significant. EMC estimation revealed that these interest rates have long run equilibrium relationships with the NIM of banks in Nigeria. The study therefore concluded that interest rates have significant effects on the net interest margin of Deposit Money Banks in Nigeria. Hence, the study suggested that Deposit Money Banks should be encouraged to offer better and competitive deposit rates that will help them attract more funds into the banking system; and these banks should at the same time strive to ensure that their lending rates are reasonable in order to boost their net interest margins. Thus, the gap between prime and maximum lending rates should be narrowed significantly.

This paper aimed at identifying various theories of the firm in relation to consumer behaviour. In light of the above, related literatures were extensively reviewed and discussed using the marketing insights to establish how the identified firm theories which include neoclassical theory, expectancy theory, resource dependence theory, agency theory, and theory of motivation impact on the behaviour of the consumer. Based on the review of literature, the paper concluded that firm theories in relation to consumer behaviour can be used to achieve marketing success.  

The study investigated the impact of audit independence, audit firm size on financial reporting quality of listed financial services firms in Nigeria. Ex-post facts research design was utilized for the study. The source of data for the study is secondary and was collected through anuual reports of the listed financial services firms, purposive sampling technique was used and data collected were analyzed using (ordinary least square robust (OLS). Findings of the study revealed that audit independence, audit firm size showing significant impact on financial reporting quality. The study, based on the research findings concluded that audit independence with positive impact play a vital role in assuring and promoting the audience of shareholders and potential investors on financial statement, by demonstrating stronger oversight and strategic decision which enhances the credibility and transparency of financial reports. Also concluded that firms audited by more larger or more reputable firms typical associated with stronger regulated compliance and professional expertise tend to produce higher quality financial reports. It recommends among others that regulatory authorities should continue to enforce strict audit independence standards to ensure there are no conflicts of interest that could influence the auditors work.

This study aimed to further evaluate the relationship between federal tax revenue and government expenditure in Nigeria between the years 2009 to 2023. This research focused on VAT, PPT and CIT as proxies for federal government’s portion of tax revenue and analyzed their significance on capital expenditure. The study drew attention to the challenges attributed to Nigeria's low tax-to-GDP ratio, which limits revenue mobilization, therefore increasing borrowing. The study used time series data to compile data from Central bank statistical bulletin and Federal Inland Revenue Service between 2009 and 2023. Data gathered over the years were analyzed using descriptive statistics, unit root tests and co-integration tests and estimation using fully-modified ordinary least squares (FMOLS), canonical co-integrating regression (CCR) and dynamic ordinary least squares (DOLS). The study revealed that VAT had a positive and significant effect on CAPEX ( = 0.2301, p = 0.0057 < 0.01). It also showed that PPT had a positive and significant effect on CAPEX ( = 0.2301, p = 0.0057 < 0.01). Additionally, CIT was shown to have a positive but statistically insignificant effect on CAPEX ( = 0.3432, p = 0.1752 > 0.1). The study suggested possible fiscal reforms to improve tax collection, reduce overreliance of external borrowing, and promote economic development. The findings are expected to assist policymakers in formulating effective fiscal policies that improve government spending efficiency and promote public welfare.

This study investigates the nexus between managerial ownership (MO) and the reporting outcomes of Total Comprehensive Income (TCI) among listed financial firms in Nigeria. Covering the period 2020–2024, the research examines how director equity stakes influence the transparency of "Other Comprehensive Income" (OCI) components, such as unrealized gains/losses on financial assets and foreign exchange revaluations. Using a panel data approach with fixed-effects regression on 150 firm-year observations from financial firms listed on the Nigerian Exchange Group (NGX), findings indicate an average TCI of ₦17.98 million. Results show that managerial ownership has a significant positive effect on TCI reporting quality, supporting the interest-alignment argument of Agency Theory. However, the data also suggests that excessive ownership leads to entrenchment, particularly during the 2024 currency volatility and recapitalization cycles.

The study evaluated the relationship between risk governance and the value of Nigerian listed deposit money banks from 2018 to 2023. Board risk committee size, board risk committee activism, chief risk officer presence, and chief risk officer independence are examples of risk governance measures. Tobin's Q was employed as a performance variable. Eight banks were selected as the study sample using purposeful sampling while expo facto research design was employed. A few selected banks' audited annual reports and accounts provided the secondary data for the study. To determine the link between the dependent and independent variables, the study used both descriptive and inferential statistics. The results of the regression model demonstrated that risk governance significantly and favourably affected the value of the sampled Nigerian banks. Board risk committee size (t-val. = 2.0949, p

This study investigated the impact of risk management and stakeholders’s engagement on employees’ accountability in the Nigerian oil and gas sector. A survey research design was employed to achieve the study's goals and objectives. Data was gathered through questionnaire administered to a carefully selected sample population. The study identified 1092 staff members of the selected oil and gas companies. The participants comprised senior managers, middle-level managers, and first-line managers within these organizations. Descriptive statistics and multiple regression analysis were used to evaluate the data obtained. The findings showed anR² value of 0.886, which implies that there is a statistically significant and strong positive impact of corporate strategies employed by companies on employees’ accountability. The study recommended that firms should streamline risk assessment processes to avoid overly rigid or poorly executed practices that may undermine employees’ confidence and capability.

This study investigates Government policy on border closure and tax revenue generation. The Study explores the conceptual impact of border closure Policy on tax revenue generation, using library method. Government policies on border closure have been employed by various countries to achieve economic goals or otherwise, the closure of borders can have both positive and negative influence. This study employs a comparative analysis approach, using secondary data comparing four years before border closure and during the closure. Nigeria's border closure policy has been successful in boosting tax revenue with exception to year 2020, which was peculiar due to COVID 19 Pandemic. Findings reveal that Nigeria's border closure policy has led to an increase in tax revenue. However, Since the border was closed down in August 20th,2019 in Nigeria till date 2024 for Agricultural products, there has been no time that items for which the border was closed were not found in the market. Also, looking at the export and import data it has kept increasing as it (border closure) has not affected revenue so far, it is recommended here that the border be kept open, so as to reduce the high cost of items in the market and increase more income to the government of the nation-Nigeria.

The broad objective of this study is to examine the effect of off-financial position item information disclosure on financial performance of listed deposit money banks in Nigeria with data covering 2017 to 2023 period. Specifically, this study focuses on the impact of financial derivative assets, financial derivative liabilities, financial derivative trading income, and intellectual property rights disclosures on firm performance, with return on capital employed serving as the performance measure. This study adopts ex-post facto research design, analyzing secondary data collected from annual reports of eight (8) purposively selected deposit money banks. Using Random Effect Robust Regression technique, this study reveals mixed evidence. First, financial derivative assets, liabilities and intellectual property rights disclosures show insignificant effects on firm performance, suggesting that information disclosures of these items do not directly influence financial performance. Second, financial derivative trading income show a significant negative impact on performance, indicating potential risk exposure. Consequent on the findings, this study recommends that stakeholders in the Nigerian deposit money banks should adopt a more cautious and strategic approach to off-financial position item information disclosure, particularly regarding financial derivatives and intellectual property rights. Additionally, there is need for regulatory frameworks that will balance transparency with the protection of sensitive financial information to foster a more stable financial environment. 

This study examines the relationship between top management structural framework and tax optimization among listed non-finance firms in Nigeria, with tax avoidance referring to the legal strategies employed by firms to minimize their tax liabilities. Drawing from agency theory, this study investigates how governance attributes—such as board size, board independence, board gender diversity, and board diligence—affect tax optimization practices. The study fills gaps in existing literature by focusing on Nigeria's unique economic, regulatory, and cultural context. Utilizing a mixed effect multilevel regression analysis, this study analyses data from eleven (11) industrial goods firms over a ten-year period (2014-2023). Findings reveal a positive effect of board size on tax optimization, suggesting that larger boards enhance firms' strategic capabilities in minimizing tax liabilities, while board independence, gender diversity, and diligence show no significant effects. The results contribute to the debate on the role of corporate governance in aggressive tax optimization and accentuate the need for policymakers to develop comprehensive tax governance frameworks that promote oversight, transparency, and ethical corporate tax practices. This study highlights the importance of contextual and firm-specific factors in shaping tax avoidance behaviors and provides valuable insights for stakeholders aiming to balance effective governance with sustainable tax practices in emerging markets like Nigeria.

This study examined the impact of macroeconomic volatility on banks performance in Nigeria using quarterly data from the year 1999 to 202 using the Auto-Regressive Conditional Heteroscedasticity (ARCH) Model. Relevant descriptive and econometrics analyses were employed. The result revealed that the macroeconomy, interest rate, exchange rate, bank performance in Nigeria all have moderate volatility within the period under consideration. The macroeconomy, interest rate, exchange rate, have all have positive significant impact on bank performance in Nigeria. The study concluded that bank performance will only be stable after 2 quarters volatility in the macroeconomy, interest rate and exchange rate. The study recommended that for sustainable improvement in the performance of deposit money banks to be achieved, government should embark on policies that would increase productivity in the the macroeconomic of Nigeria. Furthermore, an optimum interest and exchange rates policies should constantly be engendered by the monetary authority in Nigeria for deposit money banks improved performance.

The pervasive issue of financial statement manipulation in the twenty-first century, as exemplified by well-documented cases has engendered substantive inquiries into the indispensability and efficacy of auditors in upholding transparency and pre-empting fraudulent practices. Nigeria is faced with an alarming and high prevalence of fraudulent activities and as a result many crimes reported remain inadequately investigated which has prompted questions about the underlying causes. As a result, the study investigated the effect between Forensic Accounting Technique, Corporate Governance and Economic Crimes in Deposit Money Banks in Nigeria. The study adopted a survey research design. The study population was the 685 employees in the operation, finance, accounting and audit departments of 16 DMBs – using stratified sampling technique – out of the 32 licenced DMBs in Nigeria. The Taro Yamane sample size was employed in selecting the 253 respondents for the study. The study used primary data via a well-structured five-Likert scale dimension. Findings revealed that forensic accounting techniques and corporate governance have effect on Misappropriation of assets (Adj R2 = 0.519, F(9, 223) = 28.79, p < 0.05). The study concluded that forensic accounting techniques and corporate governance had impact on economic crimes in the DMBs in Nigeria. The study recommended that banks should prioritize continuous training and development programs to enhance the expertise of their staff in forensic accounting methodologies which will foster a deep understanding of investigative techniques and effectively contribute to the mitigation of asset misappropriation risks.

The pervasive issue of financial statement manipulation in the twenty-first century, as exemplified by well-documented cases has engendered substantive inquiries into the indispensability and efficacy of auditors in upholding transparency and pre-empting fraudulent practices. Nigeria is faced with an alarming and high prevalence of fraudulent activities and as a result many crimes reported remain inadequately investigated which has prompted questions about the underlying causes. As a result, the study investigated the effect between Forensic Accounting Technique, Corporate Governance and Economic Crimes in Deposit Money Banks in Nigeria. The study adopted a survey research design. The study population was the 685 employees in the operation, finance, accounting and audit departments of 16 DMBs – using stratified sampling technique – out of the 32 licenced DMBs in Nigeria. The Taro Yamane sample size was employed in selecting the 253 respondents for the study. The study used primary data via a well-structured five-Likert scale dimension. Findings revealed that forensic accounting techniques and corporate governance have effect on Misappropriation of assets (Adj R2 = 0.519, F(9, 223) = 28.79, p < 0.05). The study concluded that forensic accounting techniques and corporate governance had impact on economic crimes in the DMBs in Nigeria. The study recommended that banks should prioritize continuous training and development programs to enhance the expertise of their staff in forensic accounting methodologies which will foster a deep understanding of investigative techniques and effectively contribute to the mitigation of asset misappropriation risks.