Effect of Audit Attributes on the Divides of Financial Reporting Quality: Evidence from in Nigeria

Seiyaibo, Madawa Carl () and Okoye, Emmanuel Ikechukwu ()
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Seiyaibo, Madawa Carl: Doctoral Student, Department of Accountancy, Faculty of Management Science, Nnamdi Azikiwe, Postal: University, Awka, Anambra State, Nigeria,, https://www.afarng.org/mjms/
Okoye, Emmanuel Ikechukwu: Professor of Accounting, Department of Accountancy, Faculty of Management Science, Postal: Nnamdi Azikiwe University, Awka, Anambra State, Nigeria,, https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2022, vol. 4, issue 2, 78-93

Abstract: This study examines the link between measures of audit attributes and two measures of financial reporting quality – the accounting based factorial approach and the market based factorial approach to financial reporting quality. To achieve the general and specific objective of this study, the ex-post facto research design was adopted, and secondary data were pooled from the financial statements of sampled listed firms in Nigeria. Company specific data obtained for this study spanned from 2008 – 2019. Descriptive statistics and relevant diagnostic tests were applied in analysing the study's data while the hypotheses were tested using the multivariate regression analysis. Based on the results of the test of hypotheses, we observed that following the adoption of IFRS, audit attributes have significant influence on the market based factorial measure of financial reporting quality, while the same was not the case for the accounting based factorial approach to the measurement of financial reporting quality. Based on the above findings, we recommend amongst others that the regulatory bodies in Nigeria should continuously emphasize on strict compliance with regulatory requirements regarding the hiring/engagement and retention of external auditors. Importantly, effective, and efficient monitoring panels should be set up in Nigeria to ensure that corporate reporting in is highly regulated.

Keywords: Big 4 auditors; Audit expertise; Audit quality; Financial reportin (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ris:amjoms:0057

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