IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 12 2024
DOI: 10.56201/jafm.v10.no12.2024.pg135.147

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Effect of Audit Committee Attributes on Financial Reporting Quality: Evidence from Listed Consumer Goods Companies in Nigeria

Gimbiya Ibrahim, and Ishaku Thomas, PhD

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Abstract

This study examined the effect of audit committee attributes on the financial reporting quality of listed consumer goods companies in Nigeria. There has been continuous concern about quality financial report representing real business activities due to conflicts of interest among companies’ stakeholders, especially the management team. The study adopted an ex-post facto research design and data were collected from annual reports and accounts of the sampled companies in Nigeria for the period 2012-2022. The data were analysed using descriptive statistics, correlation analysis, and multiple regression techniques. The result revealed that higher industry experience, financial expertise, have significant negative effect on accruals, thereby improving financial reporting quality. However, audit committee independence and audit committee size has a non-significant effect on financial reporting quality of listed consumer goods companies in Nigeria. companies should focus on the quality of industry experience, financial expertise, and meeting effectiveness rather than merely increasing audit committee size or independence.

keywords:

Audit Committee, Financial Reporting Quality, Accrual Quality, Industry

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