Authors :
Akinkoye, Ebenezer Yemi; Dr. Agbogun Sarafa Adewumi; Dr. Adekunle Samuel Kayode; Jimoh Lukuman Adewale; Agbogun, Farouq Babatunde
Volume/Issue :
Volume 7 - 2022, Issue 9 - September
Google Scholar :
https://bit.ly/3IIfn9N
Scribd :
https://bit.ly/3Svy6ea
DOI :
https://doi.org/10.5281/zenodo.7133912
Abstract :
The study examined audit characteristics
across the industries in Nigeria with the view of providing
adequate information on the state of variation in audit
characteristics and the effects on the financial reporting
quality of firms selected.
Secondary data was used for this study. The data of
non-financial firms listed on the stock exchange in Nigeria
for the period of 11 years, 2008 to 2018 was examined.
Information for the study was extracted from the annual
reports and Accounts of the sample firms. Data on audit
characteristics were obtained from the firms’ annual
reports, the publication of the Nigeria Stock Exchange
(NSE) as well as the website of the firms. The data were
analyzed using the descriptive method of analysis with the
use of tables, percentages, and graphs for proper
illustration.
The result showed that audit characteristics among
firms do vary across the industries and that the variations
are insignificant. The variations are not industry specific.
The only audit characteristic that was industry-specific
was the audit type-the Big-4. The firms such as
Healthcare, Consumer goods, Industrial Goods, and Oil
and Gas engaged the services of the Big-4.
The study concluded that the specific audit
characteristics adopted by firms have greatly and
significantly enhanced the quality of financial reporting
in Nigeria.
Keywords :
Audit characteristics, financial reporting quality, non-financial firms.
The study examined audit characteristics
across the industries in Nigeria with the view of providing
adequate information on the state of variation in audit
characteristics and the effects on the financial reporting
quality of firms selected.
Secondary data was used for this study. The data of
non-financial firms listed on the stock exchange in Nigeria
for the period of 11 years, 2008 to 2018 was examined.
Information for the study was extracted from the annual
reports and Accounts of the sample firms. Data on audit
characteristics were obtained from the firms’ annual
reports, the publication of the Nigeria Stock Exchange
(NSE) as well as the website of the firms. The data were
analyzed using the descriptive method of analysis with the
use of tables, percentages, and graphs for proper
illustration.
The result showed that audit characteristics among
firms do vary across the industries and that the variations
are insignificant. The variations are not industry specific.
The only audit characteristic that was industry-specific
was the audit type-the Big-4. The firms such as
Healthcare, Consumer goods, Industrial Goods, and Oil
and Gas engaged the services of the Big-4.
The study concluded that the specific audit
characteristics adopted by firms have greatly and
significantly enhanced the quality of financial reporting
in Nigeria.
Keywords :
Audit characteristics, financial reporting quality, non-financial firms.
