EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGY ON TIMELY REPORTING OF AUDIT FINDINGS IN SOUTHWESTERN NIGERIA
Rahman-Maku, Modinat Bolanle and Nurudeen, Abdulfatai Olanrewaju
Volume 5 Issue 2
Abstract
Audit firms in Southwestern Nigeria face increasing pressure to improve performance and timeliness amid rapid digital transformation. However, the integration of Information and Communication Technology (ICT) tools into auditing processes remains a challenge for many. This study examines the effect of four ICT tools cloud-based audit software, mobile audit applications, automated audit procedures, and data analytics tools on the timely reporting of audit findings. A survey research design was employed, targeting 1,120 ICAN-licensed audit firms in Southwestern Nigeria. From a sample of 358 respondents, data were analyzed using multiple regression analysis. Findings revealed that all four ICT tools significantly and positively influenced timely audit reporting. Data analytics tools were the strongest predictor (β = 0.612), followed by automated audit procedures (β = 0.197), cloud-based audit software (β = 0.165), and mobile audit applications (β = 0.129). The study confirms that ICT adoption enhances audit efficiency, accuracy, and responsiveness, contributing to timely reporting and improved stakeholder confidence. The study recommends that audit firms strategically adopt and optimize ICT tools particularly automated and data-driven systems to streamline audit workflows and meet reporting deadlines. Firms should also ensure robust cybersecurity measures to mitigate risks associated with mobile and cloud technologies. These findings contribute to the growing evidence that digital innovation is vital for timely financial oversight in Nigeria's audit sector. Keywords: Automated Audit Procedures, Cloud-Based Audit Software, Information and Communication Technology, Mobile Audit Applications.
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