Corporate Attributes and Audit Delay in Emerging Markets: Empirical Evidence from Nigeria

Afensimi Elijah

33 citations0/0 files storedInternational Journal of Business and Social Research

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Auditing, Earnings Management, Governance Corporate Governance and Financial Management Financial Reporting and XBRL

Abstract

The broad objective of the study was to examine the determinants of audit report lag in the Nigerian context. Specifically, the study examined the effects of the following factors on Audit fees; Audit firm type, Leverage, Return on equity, Firm size, subsidiaries and Year-end. The panel research design was used for the study. The data was sourced from the annual reports of all financial companies quoted on the floor of the Nigerian stock exchange. The method of data analysis utilized in the study is the panel data estimation techniques (pooled, fixed and random effects regression). In line with the study objectives, the finding reveals that (i) Company size has no significant positive impact on audit delay. (ii) Firm’s financial performance has a significant impact on Audit delay. (iii) Audit firm type (big 4 and non-big 4) has a significant impact on Audit delay. (iv) Leverage has no significant impact on Audit delay and (v) Number of subsidiaries has a significant impact on Audit delay and (vi) Financial year end has no significant impact on Audit delay. The recommendation is that in achieving the objective of making the financial statements readily available for making timely decisions, the Nigerian stock exchange, Securities and Exchange Commission, the Financial Reporting Council, the Central Bank of Nigeria and other regulatory bodies should put in place measures to ensure strict compliance with 3 months window for financial reports preparation and presentation.

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References

2008Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods 1987An Empirical Analysis of Audit Delay 2015International Business Research 1991An Examination of Audit Delay: Further Evidence from New Zealand 2000Timeliness of corporate financial reporting in emerging capital markets: empirical evidence from the Zimbabwe Stock Exchange 2005Determinants of Audit Report Lag: Some Evidence from the Athens Stock Exchange 1980The Association Between Selected Corporate: Attributes and Timeliness in Corporate: Reporting: Further Analysis 2006Timeliness of corporate annual financial reporting in Greece

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