IMPACT OF ACCOUNTING REGULATORY REFORMS ON AUDIT QUALITY OF LISTED FIRMS IN NIGERIA: AN EMPIRICAL INVESTIGATION
Ezekiel Elton Mike Micah and Okafor Edith Uzoamaka
Volume 13 Issue 2
Abstract
The internationalization and globalization of financial activities, reported cases of corporate failure and the quest by some firms to raise capital or fund internationally called for internationally accepted accounting regulatory reforms. The adoption of International Financial Reporting Standards (IFRS) was among such reforms embarked upon to improve the audit quality and financial reporting quality of organizations. Consequently, this study examines whether the adoption of IFRS as an accounting regulatory reform has impacted audit quality among listed firms in Nigeria. Using secondary data sources obtained from the audited annual financial statements and reports of selected listed firms in Nigeria from 2001 to 2024 and analyzing same using regression analysis, this, study revealed empirically that the adoption of IFRS has positively impacted the audit quality of listed firms in Nigeria. This study therefore concludes the accounting regulatory reforms have impact on the audit quality of listed firms in Nigeria. It is therefore recommended that firms should adopt the use of reputable audit firms for their audit practices as this improves the audit quality thereby improving the reliability and transparency in their financial statements for stakeholders’ decisions. Keywords: IFRS, Audit Fees, Auditor’ Independence, Audit Firm Size, Listed Companies
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