Impact of Joint Audit on Audit Fees in Nigeria

Sagir Lawal ()
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Sagir Lawal: Nigeria Police Academy Wudil, Kano, https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2022, vol. 4, issue 3, 197-218

Abstract: The impact of joint audit on audit fees is a paramount issue in any company engaging or intending to engage two audit firms to audit their financial statements. This study examines the impact of joint audit on audit fees of listed firms in Nigeria before the adoption of IFRS and after the adoption of IFRS with specific focus on big-four and nonbig-four joint audit. The listed companies examined are natural resource companies, consumer goods companies, industrial companies and oil and gas companies. Secondary data was collected from the annual reports of sampled companies. The population of this study is made up of 113 firms. A sample of 10 firms was selected using Taro Yamane's formula and the period of the study covered 2017-2021. The Panel Multiple Least Square Model was used for analysis. The result of the study shows that joint audit has positive impact on audit fees of listed companies before IFRS adoption but has no impact on audit fees after IFRS adoption. It is recommended that firm's size, company's profitability, and complexity should be given more aention in order to increase audit fees.

Keywords: Audit; Joint Audit; Audit fees; Audit firms; Listed companies (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ris:amjoms:0071

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