EFFECT OF FIRM’S ATTRIBUTES ON AUDIT REPORTING LAG OF SOME SELECTED LISTED MEDIUM COMPANIES IN NIGERIA
Maarufah Abdulmalik Mohammed, Salisu Abubakar and Mustapha Maruf
Volume 3 Issue 2
Abstract
The study investigates the impact of firm attributes on Audit Reporting Lag (ARL) in selected listed companies in Nigeria. ARL is the time between the financial year-end and the auditor's signature date on the financial statements. At the same time, firm attributes include Firm Size, Book Value per Share, and Market Capitalization. The study adopts descriptive and correlational research designs by utilizing a longitudinal panel of 42 firms over ten years, resulting in 420 observations. Secondary data from 2012 to 2021 were collected using a convenient sampling method sourced from the companies' annual financial reports. Descriptive statistics and panel regression analysis were employed for data analysis. The results indicate that firm size, book value per share, and market capitalization significantly and positively influence ARL in the studied Nigerian companies. The findings suggest that larger audit firms contribute to more efficient and timely financial reporting with their more significant resources, expertise, and experience. Additionally, longer audit tenure aids in streamlining the audit process due to increased familiarity and knowledge, leading to timelier reporting. The study also highlights the importance of having audit committees composed of individuals with diverse expertise, as this provides the necessary resources and support for effectively fulfilling responsibilities. Keywords: Audit Reporting Lag, Firms Attributes, Listed Companies in Nigerian
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