Effect of Fraud on Financial Reporting and Misappropriation of Assets of Listed Conglomerate Companies in Nigeria
Abstract
This study investigates the effect of fraud on financial reporting quality and misappropriation of assets in listed conglomerate companies in Nigeria. The findings reveal that fraud has a statistically significant negative effect on financial reporting quality and a strong positive effect on asset misappropriation. Specifically, an increase in fraud is associated with lower quality of reported financial information and a 12% rise in asset misuse.
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