INTERNATIONAL JOURNAL OF ACCOUNTING, FINANCE AND TAXATION

This paper investigates the effect of audit independence on the financial performance of quoted insurance companies in Nigeria. Audit independence was measured using audit tenure and audit fee, while financial performance was evaluated through net profit margin (NPM), return on assets (ROA), and earnings per share (EPS). Secondary data were extracted from the audited annual reports of 19 insurance companies listed on the Nigerian Exchange Group, covering the period from 2012 to 2023. The study employed descriptive statistics, correlation analysis, and panel least squares regression to analyze the relationships among variables, with model selection guided by the Hausman test. The findings revealed that audit fee had a positive and statistically significant effect on NPM and ROA, implying that higher audit investments enhance profitability and asset efficiency through more rigorous oversight and greater stakeholder trust. In contrast, audit tenure exhibited insignificant relationships with all financial performance indicators, suggesting that extended auditor engagements neither significantly enhance nor diminish financial outcomes. For EPS, both audit tenure and audit fee showed statistically insignificant effects, indicating that market-based or internal firm factors may play a stronger role in influencing shareholder earnings. The study concludes that audit independence remains critical to ensuring credible reporting and long-term investor confidence. It recommends that regulators encourage transparent audit fee structures, enforce reasonable auditor tenure limits, and promote periodic quality reviews to maintain independence without sacrificing audit effectiveness.

The study examined the relationship between entrepreneurial mindset and business reputation nexus among agro-based small and medium-scale enterprises (SMEs) in South-South Nigeria. Entrepreneurial mindset was conceptualized through risk acceptance, entrepreneurial optimism, and entrepreneurial persistence. The study adopted a cross-sectional survey research design. Primary data were obtained from 145 top management personnel of agro-based SMEs using structured questionnaires. The hypotheses were tested with Partial Least Squares–Structural Equation Modeling (PLS-SEM) via SmartPLS version 4.1.1.5.Findings revealed that risk acceptance had little influence on reputation, suggesting that risk-taking alone did not guarantee credibility. Entrepreneurial optimism significantly enhanced reputation, indicating that positive thinking and confidence promote stakeholder trust. Entrepreneurial persistence had limited  support on reputation  implying that consistency must be complemented with visibility and strategic communication. The study concluded that optimism and persistence are critical drivers of business reputation, while unstructured risk-taking has minimal impact. It recommended that SME managers adopt calculated risk-taking supported by feasibility studies, foster optimism through mentorship and communication, and institutionalize persistence via goal-setting and recognition systems

This study investigated the impact of corporate governance strategies on the ethical leadership and transparency in selected listed oil and gas companies in Nigeria. Weak corporate governance structure and strategies have led to inefficiencies, a lack of transparency, and accountability gaps, which affect corporate performace and shareholder confidence. 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 and sampled 293 for the purpose of questionnaire administration comprising 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 empolyees’ accountability. Also, the study showed that the R² value of 0.913 explained that ethical leadership significantly contributes to maintaining consistent feedback policies. The study recommended that organisations should prioritise developing and maintaining clear, comprehensive corporate governance strategies to boost employees’ capability in setting and achieving goals.  Firms should streamline risk assessment processes to avoid overly rigid or poorly executed practices that may undermine employees’ confidence and capability.

The study investigated the effects of Environmental, Social, and Governance (ESG) disclosures on the financial performance of listed industrial goods firms in Nigeria between 2012-2023. Financial performance was measured using return on assets (ROA), with earnings per share (EPS) as a control variable.The research adopts a longitudinal design, utilizing secondary data obtained from the annual reports of 12 manufacturing firms in Nigeria. These firms are drawn from various sectors, including industrial goods, consumer goods, agriculture, and the oil and gas sectors.  The main results, based on ordinary least squares (OLS) regression and robust regression, are as follows:Environmental Disclosure: The analysis showed a positive but insignificant impact on financial performance (ROA) with a coefficient of 3.050 (p-value = 0.177). Social Disclosure: Social disclosure had a significant negative effect on financial performance (ROA) with a coefficient of -13.228 (p-value = 0.000). Governance Disclosure: Governance disclosure demonstrated a negative but insignificant impact on financial performance (ROA) with a coefficient of -4.290 (p-value = 0.186). The findings suggest that while Nigerian firms are becoming more aware of the importance of ESG, there is still much work to be done to align governance practices with international standards. The study also indicates that firms adopting comprehensive ESG strategies not only improve their financial health but also position themselves favorably with foreign investors and regulatory bodies. The research concludes that ESG practices are crucial for enhancing the financial performance of manufacturing firms in Nigeria. By adopting environmentally friendly practices, engaging in responsible social behavior, and implementing strong governance frameworks, firms can achieve sustainable financial success.

The study assessed the effect of business structure on performance of MSMEs in Ondo state, Nigeria. This is done to explore how the configuration of businesses in terms of its firm size, ownership structures and audit process can influence performance in terms of its going concern potential of MSMEs in order to promote sustainable business practice in Nigeria. Survey research design was adopted in this study because data was obtained primarily from the respondents using well-structured questionnaire. The study focused specifically on registered medium scale enterprises. The population comprise 1,128 registered medium scale enterprises in Ondo state as at 2020 (SMEDAN, 2021). The sample size of 150 businesses was selected using purposive sampling technique. Data collected was analysed using descriptive statistics and ordinary least square (OLS) regression. Findings revealed that firm size had a negative but insignificant effect on performance of MSMEs. Ownership structure had a positively insignificant effect. It however revealed that audit process positively and significantly affects performance of MSMEs in Ondo state. The study concluded that the size of a firm does not indicate performance, and type of ownership structure adopted may impact performance but minimally. However, the quality of audit process undertaken to ensure control and monitoring significantly determine the firm performance. It is therefore recommended, that all stakeholders must be concerned about the business structures of MSMEs in Nigeria; by introducing policies that will promote sustainable business practice that will elongate business life span of MSMEs in Nigeria.

This study examined how capital structure influenced the financial performance of listed consumer goods firms in Nigeria. The study adopted an ex-post facto research design, relying on secondary data from 10 firms selected out of 21 listed on the Nigerian Exchange Group PLC between 2014 and 2023. The sample was selected using a judgmental-convenience sampling technique and a defined filtering criterion. Capital structure was measured using long-term debt and proprietary funds, whereas financial performance was evaluated through return on capital employed (ROCE). Data analysis was conducted using a generalized least squares regression analysis. The findings show that both the long-term debt ratio (LTDR) and proprietary funds (PROF) exert a positive and statistically significant influence on ROCE. The study concludes that long-term debt and proprietary funds are critical determinants of financial performance among the sampled firms and recommends that management pursue strategic approaches to long-term debt financing while ensuring the efficient use of proprietary funds to drive sustainable returns and improve operational efficiency.

This study investigated the impact of digitalized accounting systems on stakeholders' financial security in Nigerian deposit money banks (DMBs), focusing on three key aspects of digital accounting systems: System Quality (SQ), Information Processing Capability (IPC), and Security Controls (SC). The study employed a survey research design, utilizing a structured questionnaire administered to 118 banking professionals selected through judgmental sampling from a population of 167 staff members across 21 DMBs in Abeokuta, Ogun State. Responses were collected using a 5-point Likert scale and analyzed using descriptive statistics, correlation analysis, and multiple regression. The findings revealed that digitalized accounting systems significantly influence stakeholders' financial security, with varying impacts across different dimensions. System Quality emerged as the strongest predictor of Financial Data Protection (β = 0.586, p < 0.001) and Information Reliability (β = 0.400, p < 0.001), while Security Controls significantly influenced Transaction Security (β = 0.206, p = 0.003). The models explained 42.1%, 14.9%, and 29.3% of the variance in Financial Data Protection, Transaction Security, and Information Reliability, respectively. The study concluded that while digital accounting systems are crucial for stakeholder financial security, their effectiveness varies across different security dimensions, necessitating a balanced implementation approach. Recommendations include enhanced investment in system quality, strengthened security infrastructure, comprehensive staff training, and improved stakeholder engagement. The research contributes significantly to stakeholder theory by demonstrating how digital systems can simultaneously serve multiple stakeholder interests while providing empirical evidence for policy formulation in the banking sector. It also advances the accounting profession by highlighting critical factors for successful digital system implementation and management. These findings provide valuable insights for banking regulators, bank management, and stakeholders in understanding how different aspects of digitalized accounting systems contribute to financial security, guiding future investments and policy decisions in Nigeria's banking sector. The study's comprehensive approach to examining the relationship between digital accounting systems and stakeholder financial security adds to the growing body of knowledge in this field while offering practical implications for the banking industry.

This study examined the effect of corporate governance on financial performance of listed insurance companies in Nigeria.  Corporate governance practices were proxied by board gender diversity, board independence, board meeting and firm size while financial performance was measured using Return on Asset (ROA) and Return on Equity (ROE). The population of the study consists of 23 insurance companies in Nigeria. Judgmental sampling techniques was adopted to select 19 listed insurance companies in Nigeria. Secondary data were obtained from audited annual financial reports of listed insurance firms from 2013-2023. This study adopted ex-post factor research design. Panel data analysis technique was used to test the hypotheses. The study found that board gender diversity positively influences financial performance of insurance firms, showing a statistically significant effect on Return on Equity (ROE) but an insignificant effect on Return on Assets (ROA). Board independence, on the other hand, exhibited a statistically significant negative effect on ROA and an insignificant effect on ROE, suggesting that excessive independence may hinder operational efficiency. Lastly, board meeting frequency showed insignificant effect on both ROE, and ROA, indicating that meeting frequency alone may not drive financial performance. This study recommends that insurance firms aiming to enhance financial performance and ensure fair returns to equity holders should implement a policy mandating up to 50% female representation on their boards, as increased gender diversity fosters stronger governance outcomes and turns out to improve financial performance. Additionally, a balanced composition of executive and non-executive directors is advised to deepen operational insight and drive cost efficiency, thereby improving ROA. To sustain an optimal ROE, listed insurance firms in Nigeria should also maintain a moderate proportion of independent directors, as excessive independence may inadvertently reduce equity returns. Finally, boards are encouraged to comply with the regulatory minimum of four meetings annually, as stipulated by the Nigerian Code of Corporate Governance, to uphold effective oversight without incurring unnecessary governance costs.

In an increasingly unstable global environment, preparing organizations for the future is a crucial strategic necessity, especially in Nigeria, where specific socio-cultural characteristics create distinct problems and possibilities. This quantitative research examines the connections among cultural necessities, restructuring activities, job-related perspectives, and organizational preparedness for the future within the Nigerian setting. Information was gathered from 110 workers and supervisors through standardized surveys and examined utilizing multiple regression analysis. The outcomes strongly validated Hypothesis 1, demonstrating a noteworthy positive impact of cultural necessities on restructuring activities (R² = .822, B = 0.125, *p* = .008). Nevertheless, Hypothesis 2, which proposed an immediate impact of favorable job-related perspectives on organizational effectiveness, was not validated (B = 0.088, *p* = .374), implying a more intricate, indirect connection potentially influenced by multicollinearity. The conclusions highlight the significance of cultural harmonization as an indispensable element of effective organizational change in Nigeria. Suggestions involve incorporating cultural assessments for change projects and utilizing sophisticated statistical methods such as Structural Equation Modeling (SEM) to clarify the complex mechanisms through which job-related perspectives impact future-readiness.

The study assessed the effect of firm characteristics on earnings management of quoted oil and gas firms in Nigeria. To achieve the objectives of this study, the entire 12 oil and gas companies listed on the Nigerian Exchange Market were analyzed for the study.  The annual financial reports of the different firms for the period 2018 – 2023 were used for the study. In testing the research hypotheses, the study adopted the use of the Ordinary Least Square (OLS) regression model for the sampled listed firms. Findings from the study revealed that firm size and firm corporate strategy have non-significant impact on earnings management (which is represented by discretionary accruals). However, the findings also revealed that there is a significant relationship between financial leverage and discretionary accruals of the Nigerian firms considered in the sample. The study concludes that large firms tend to have higher incentives and more prospects in engaging in the manipulation of earnings and inflation earning figures due to the complexity of their operations and inherent intricacies for users to identify overstatement. However, the study recommends that potential investors should watch out for red flags associated with earnings management in small firms since small firms may likely indulge in earnings management as compared to larger firms since regulatory authorities don not beam their search light on them as compared to larger firm.