External audit quality on accuracy and reliability of financial statement of deposit money banks in Nigeria
Keywords:
Audit Quality, Accuracy and Reliability, Financial Reporting Disclosure, EconomicAbstract
The study investigated effect of external audit measured by Auditor Independence (AI), Audit Fees (AF) and Audit Firm Size (AFS) on Accuracy and Reliability measured by Financial Reporting Disclosure (FRD). For the inquiry, an ex-post facto research design technique was used. The study's population consists of 13 publicly traded commercial banks in Nigeria. The study used panel data spanning twelve (12) years, with 13 quoted commercial banks chosen as the sample size using a selective sampling strategy. The study used secondary data from annual reports of quoted commercial banks listed on the Nigerian Stock Exchange (NSE) from 2010 to 2022. Panel regression and descriptive statistics in order to test hypotheses, Eview version 8 was used. According to the conclusions of the study, audit quality (Audit size, Audit fees, and Audit Independence) has statistical significant effect on the accuracy and reliability of financial statement. The study recommends among other things that audit firms of quoted commercial banks should avoid conflict of interest by ensuring that they do not depend on a client for the majority of its fee income, as well as avoiding contingency fees.
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Copyright (c) 2024 Kizito Chukwuezuka Nweze, Robinson Onuorah Ugwoke, Obioma Vivian Ugwoke, Mary Ozondu
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