RELEVANCE OF AUDIT COMMITTEE ON QUALITY OF FINANCIAL REPORTING OF OIL AND GAS COMPANIES

ABSTARCT

This study examines the Relevance of Audit Committee on Quality of Financial Reporting Of Oil and Gas Companies listed in the Nigerian Stock Exchange. This study uses a sample of twelve (12) oil companies listed in the Nigerian stock exchange and study employing time-series technique for the period of 2008-2017. The result of the study shows audit committee composition, audit committee independence, frequency of meeting, financial literacy and size has a negative statistically significant effect on the quality of financial reporting of Oil and Gas Companies listed in the Nigerian Stock Exchange. This study recommends that the necessary requirements and qualification as laid down by Companies and Allied Matters Acts as regards size audit committee, audit committee independence, frequency of meeting, financial literacy of the committee should be met to improve users perception of the credibility of audit committee reports.