AUDIT FIRM ATTRIBUTES AND QUALITY FINANCIAL OF FINANCIAL REPORTING OF LISTED COMPANIES IN NIGERIA

ABSTRACT

This study seek to examine the impact of audit firm attributes on quality financial reporting of selected listed manufacturing companies (Fast-Moving Consumer Goods (FMCG) ) in the Nigerian exchange group (NGX), the focus was on the manufacturing sector which comprises of Fast-Moving Consumer Goods .The study regressed the dependent variable – Quality financial reporting on the Independent variables audit firm independence, audit fee, audit firm type and joint audit. A sample of seventeen (17) listed Fast-Moving Consumer Goods (FMCG) from the period of 2019– 2023 were examined using descriptive statistics, correlation analysis and regression techniques were used to analyze the data in order to achieve the research objectives. This study employed the Ordinary Least Square Method and the empirical results revealed that there is a negative significant linear relationship between the audit firm independence and quality financial Board gender diversity, there is a positive significance relationship between audit fee and quality financial reporting, while audit firm type reviews a non relationship with quality financial reporting. The study recommends amongst others that Regulatory authorities should strengthen measures to promote audit firm independence, such as imposing restrictions on non-audit services provided by auditing firms to their clients. Companies and regulatory bodies should review audit fee structures to ensure that adequate resources are allocated to audit processes, thereby enhancing financial reporting quality. Keywords: Audit firm independence, Audit fee, Audit firm type,Joint audit,Quality financial reporting and financial performance