Browsing by Author "Oluwole, Aramide Mosope"

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    Audit committee characteristics and audit quality of quoted financial firms in Nigeria(2006-2016)
    (Management and Accounting,Obafemi Awolowo University, 2019) Oluwole, Aramide Mosope
    The study analysed the factors influencing audit quality among quoted financial firms in Nigeria. It also evaluated the effectiveness of audit committee among quoted financial firms in Nigeria and investigated the effect of audit committee financial expertise on audit quality of financial firms in the country. These were with a view to providing information on the influence of audit committee characteristics on audit quality in the listed financial firms in Nigeria. The study employed both primary and secondary data. The study population comprised 56 listed financial firms on the Nigerian Stock Exchange. Purposive sampling technique was adopted to select people with financial experience and experts in financial knowledge, highest market capitalisation, representativeness and the availability of data for this study in 30 listed financial firms. Data covering audit committee members, independence, size, financial expertise, meetings, multiple directorship and tenure were sourced from the audited financial statements of the selected firms, the Nigerian Stock Exchange Factbook from 2006 to 2016. Collected data were analysed using percentages and panel pooled OLS techniques. The results showed that financial expertise (96%), audit committee size (83%) and frequency of meetings (78%) were factors influencing audit quality. Furthermore, results revealed that audit committee was effective in terms of multiple directorship (t = 2.23, p < 0.05), mildly effective in terms of audit committee independence reflected (t = 1.28, p < 0.05), and not effective in terms of audit tenure (t = -0.31, p < 0.05). Finally, audit committee financial expertise in terms of years of experience (t = 47.85, p < 0.0001) and academic qualification (t = 47.88, p < 0.0001) had positive significant relationships with audit quality. The study concluded that audit committee characteristics had significant influence on audit quality of listed financial firms in Nigeria.