AUDIT COMMITTEE CHARACTERISTICS AND AUDIT REPORT LAG IN NIGERIA INSURANCE COMPANIES
PhD Accounting Student, University of Benin, Nigeria
This study examines the nexus between audit committee characteristics and audit report lag among Nigeria insurance companies. The study utilises panel data of five (5) listed Insurance companies obtained from their respective annual reports covering the period 2016-2020. Results of the Panel Least Square (PLS) regression estimation technique shows that audit committee financial expertise (ACF) has a significant negative relationship with audit report lag (ARL), while audit committee independence (ACI), audit committee size (ACS) and audit committee effectiveness (ACE), on the average has insignificant positive relationships with audit report lag (ARL) in the insurance sub-sector of the Nigerian economy respectively. On the basis of this finding, companies are advised to include board members who have in-depth knowledge of accounting and finance on their audit committee make-up, as this could assist in reducing the delay in the review of audited financial reports, hence ensure quick presentation of the audited financial information to users.
Journal Name :
EPRA International Journal of Multidisciplinary Research (IJMR)
Published on : 2021-06-30