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Citations
... Of the three (3) selected attributes of the audit committee, only the size of the audit committee displays a positive and significant relationship with the demand for audit services. Aribaba, & Ahmodu (2017) analyses the effect of corporate governance measures (board diligence, board independence, ownership concentration, and managerial ownership) on audit quality, represented by audit fees. Secondary data were collected on 25 quoted non-financial firms for 6 years from 2011 to 2016 using their audited financial statement. ...
This study examined the influence of an entity's corporate governance practices on independent external auditor quality, proxied with auditor industry specialization, in Nigeria. The explanatory research design was adopted. Data were sourced from annual reports and accounts of thirty-five (35) quoted non-financial firms for 11 years from 2008 to 2018. After that, panel regression analyses were employed as the estimating technique for the model specified. The empirical results revealed that independent external audit quality is positively influenced by the firm's size but negatively influenced by board Independence and the proportion of female directors on board. Overall, aggregate explanatory variables adopted in this study accounted for 50% changes in external audit quality. Though these findings largely negate previous ones, they contribute to the extant literature and provide further directions for a future attempt at researching within emerging territories.
The study investigated the relationship between corporate governance practices and audit quality of quoted banks in Nigeria. To achieve this objective theoretical, conceptual and empirical literature on corporate governance practices and audit quality were reviewed. Corporate governance practices were proxied by board size, board composition and ownership consideration while audit quality was proxied by audit tenure, audit firm size and audit fees. The population of the study consists of fourteen (14) quoted banks in Nigeria. Judgmental sampling technique was used to select twelve (12) quoted banks as sampled size for the study. Secondary data were obtained from audited annual financial reports of quoted banks in Nigeria from 2006-2019. The study adopts the use of descriptive statistics for univariate analysis while hypotheses formulated were tested using ordinary least square regression with the aid of E-view 10 econometrics software. Finding shows that board size, board composition and ownership concentration jointly have significant impact on audit tenure of quoted bank in Nigeria. Evidence shows that board size, board composition and ownership concentration jointly has significant impact on audit fees of quoted bank in Nigeria. Evidence revealed that board size, board composition and ownership concentration has insignificant impact on audit firm size of quoted bank in Nigeria. The study concludes that corporate governance practices have a significant impact on audit quality of quoted banks in Nigeria. The study recommends among others that the regulatory agency should strengthen bank supervision to ensure compliance with ownership concentration as stipulated in bank and other financial institution act, the central bank of Nigeria should ensure strict compliance to corporate governance code in respect of board composition and board size to enhance efficient monitoring and control of management, audit quality should be enhanced by ensuring the used of the Big4 audit firm, auditors-client relationship should not exceed 5years, because longer audit tenure strengthens the auditors-client bond which can impair the auditors objectivity and independence resulting in lower audit quality.