Effect of Audit Committee Specific Attributes on Financial Reporting Timeliness of Industrial Goods Industries in Nigeria

Authors

  • Ibrahim Hassan Jimba Ph.D. Accounting Department, Nasarawa State University, Keffi, Nigeria
  • Miriam Nyikyaa Nguavese Accountancy Department, Federal Polytechnic Nasarawa, Nigeria
  • Nwonye Fidelia Ifeyinwa Accountancy Department, Federal Polytechnic Nasarawa, Nigeria

Keywords:

Financial reporting timeliness, audit committee, audit committee meeting, audit committee financial expert, audit committee size.

Abstract

One of the most imperative qualities of financial reporting is its properness, as users will place little or no value on information that is delivered past its due date. The effects of audit committee features on the timely submission of financial reports by listed industrial businesses in Nigeria from 2012 to 2021 is evaluated. The population comprises of twenty one (21) listed industrial companies in Nigeria out of which sixteen (16) with up to date financial report were selected to epitomize the sample size of the research. An ex-post facto design is utilized. The audited accounts of the sampled firms' businesses served as the source of data. Analysis done with Poisson regression analysis. The results indicate that the size of the audit committee has a favorable and statistically significant impact on how quickly industrial enterprises in Nigeria report their financial data. Financial expertise have statistical significant negative influence on financial reporting timeliness of listed industrial companies in Nigeria while audit committee meeting exhibit insignificant positive influence on financial reporting timeliness on industrial companies in Nigeria. The study comes to the conclusion that the audit committee's features affect the timeliness of financial reporting for Nigerian industrial firms. The study suggests, among other things, that the Central Bank of Nigeria, to guarantee thorough adherence to the stated norms and laws regulating the production of financial statements, the Securities and Exchange Commission, the Financial Reporting Council, and other regulatory authorities put procedures in place.

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Published

2022-12-16

How to Cite

Ibrahim Hassan Jimba Ph.D., Miriam Nyikyaa Nguavese, & Nwonye Fidelia Ifeyinwa. (2022). Effect of Audit Committee Specific Attributes on Financial Reporting Timeliness of Industrial Goods Industries in Nigeria. International Journal of Recent Innovations in Academic Research, 6(12), 1–9. Retrieved from https://ijriar.com/index.php/ijriar/article/view/477