Determinants and Value Relevance of Auditor?s Reporting Timeliness of Listed Manufacturing Firms in Nigeria

References

[1] Usman, M. D., Isah, I. & Bawa, S. A. (2022). Effect of audit quality on value relevance of accounting information of listed non-financial service firms in Nigeria. LAPAI Journal Of Management Science (LAJOMAS), 11(1), 16 – 30.

[2] Obara, L. C. & Nangih, E. (2017). Accounting practices and performance of oil and gas industry (upstream sector) in Nigeria: An empirical analysis. International Journal of Academic Research in Accounting, Finance, and Management Sciences, 7(2), 215 - 222

[3] Zukbee, J. D. & Williamson, G. S. (2024). Audit quality and the relevance of accounting numbers: Evidence from Nigeria. Nigerian Journal of Management Sciences, 25(1), 1-8

[4] Mustapha L. O, Nyor A. I. & Nyor, N. (2022). Determinants of audit report timeliness of listed industrial goods firms in Nigeria, Fuoye Journal of Accounting and Management, 5(2), 115-135

[5] Onodi, B. E. & Utuk, E. O. (2023). External audit characteristics and value relevance of listed firms in Nigeria. International Journal of Research and Innovation in Social Science (IJRISS),7(3),965

[6] International Accounting Standard Board, IASB (2008). Objective and Qualitative Characteristics of Accounting Information. Retrieved from: http:// www.ifrs.org/current-projects/iasb-projects/conceptual-frame.

[7] Otiedhe, M. G., & Jeroh, E. (2022). Value relevance of accounting information of quoted Nigerian firms in the industrial goods sector: assessment of the pre- and post- IFRS era. Finance & Accounting Research Journal, 4(5),1-14.

[8] Usman, M. D., Isah, I. & Bawa, S. A. (2022). Effect of audit quality on value relevance of accounting information of listed non-financial service firms in Nigeria. LAPAI Journal Of Management Science (LAJOMAS), 11(1), 16 – 30.

[9] Aronmwan, E. J. & Emife, M. H. (2022). Audit committee characteristics and timeliness of financial reports in Nigeria. Journal of Danubian Studies and Research,12(1),1-20

[10] Abubakar, A., Nasiru, Y., Badara, M. S. & Chechet, L. I. (2021). Moderating role of audit quality on the value relevance of accounting information of listed firms in Nigeria. Gusau Journal of Accounting and Finance, 2(3), 2294-3018.

[11] Otiedhe, M. G., & Jeroh, E. (2022). Value relevance of accounting information of quoted Nigerian firms in the industrial goods sector: assessment of the pre- and post- IFRS era. Finance & Accounting Research Journal, 4(5),1-14.

[12] Li, J. & Lin, J. (2005). The relationship between earnings management and audit quality, Journal of Accounting and Finance Research, 12(1), 1- 11.

[13] Hussainey, K. (2009). The impact of audit quality on earning predictability. Managerial Auditing Journal, 24(4), 340-351.

[14] Amir, E, Harris, T. S. & Venuti, E. K. (1993). A Comparison of the Value Relevance of US versus non-U.S. GAAP Accounting Measures using Form 20-F reconciliations, Journal of Accounting Research, 31, 230–264.

[15] Francis, J. & Schipper, K. (1999). Have financial statements lost their relevance? Journal of Accounting Research, 37(2), 319–352. DOI http://doi.org/10.2307/2491412

[16] Beisland, L.A., 2009. A review of the value relevance literature. Open Business Journal, 2(1), 7–27. DOI http://doi.org/10.2174/1874915100902010007.

[17] Nilsson, H. (2003). Essays on the value relevance of financial statement information, Journal of Financial Economics, 38, 63-84.

[18] Beisland, L.A., 2009. A review of the value relevance literature. Open Business Journal, 2(1), 7–27. DOI http://doi.org/10.2174/1874915100902010007.

[19] Gjerde, O. K. Knivsfla & Saettem, F. (2008). The Value-Relevance of Financial Reporting in Norway. 1965- 2004. Working Paper, February.

[20] Sultana, N., Singh, H., Van der Zahn, J. L. W. M. (2015). Audit committee characteristics and audit report lag. International Journal of Auditing, 19(2), 72–87.

[21] International Accounting Standard Board, IASB (2008). Objective and Qualitative Characteristics of Accounting Information. Retrieved from: http:// www.ifrs.org/current-projects/iasb-projects/conceptual-frame.

[22] Owusu-Ansah, S., Leventis, S. (2006). Timeliness of corporate annual financial reporting in Greece. European Accounting Review, 15(2), 273–287.

[23] Liu, D. K., Jaikaeo, C., Shen, C. C. & Hwang, R. H. (2009). Discovering timely information in Manetes. Journal of Computer and Mathematics with Applications, 57(11), 1808–1821.

[24] Wang, X. & Wu, M. (2011). The quality of financial reporting in China: An examination from an accounting restatement perspective. China Journal of Accounting Research, 4(4), pp. 167-196.

[25] Sultana, N., Singh, H., Van der Zahn, J. L. W. M. (2015). Audit committee characteristics and audit report lag. International Journal of Auditing, 19(2), 72–87.

[26] Gul, F.A., Hutchinson, M. & Lai, K. M. (2013). Gender-diverse boards and properties of analyst earnings forecasts. Accounting Horizons, 27(3), 511-538.

[27] Abernathy, J. L.; Beyer, B. & Stefaniak, C. M. (2011).’Audit committee directors’financial expertise and audit report lag’, in American Accounting Association Annual Meeting, Denver, August 6-10, American Accounting Association.

[28] Bedard, J.; Chtourou, S. M. & Courteau, L. (2014). The effect of audit committee expertise, independence and activity on aggressive earnings management. Auditing: A Journal of Practice and Theory, 23 (2), 13–35.

[29] Sharma, V. D. & Kuang, C. (2013). Voluntary audit committee characteristics, incentives, and aggressive earnings management: Evidence from New Zealand. International Journal of Auditing, n/an/a.

[30] Spence, A.M. (1973). Job market signaling. Quarterly Journal of Economic Theory, 87, 355-374.

[31] Scott W. R. (1997). Financial Accounting Theory. Scarborough Prentice Hall

[32] Jensen MC, Meckling (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 2(1), 23-33.

[33] Baffa A. M., Lasisi I. O. & Ojo T. C. (2023). Auditor tenure, audit firm size and value relevance of accounting information of quoted companies in Nigeria. European Journal of Accounting, Auditing and Finance Research, 11(7), 101-116

[34] Mansour. G, Ahmad, A. & Sima, N. (2016). Studying the effect of the board characteristics on the timeliness financial reporting of listed companies in Tehran Stock Exchange. Journal of Finance, Accounting Management, 4(1), 42-48.

[35] Jordi, V. H. (2012). What Determines the Annual Reporting Lag for Listed Companies: Country and Company Characteristics Effects. Master’s thesis, Tilburg University, School of Economics and Management, Tilburg.

[36] Gjerde, O. K. Knivsfla & Saettem, F. (2008). The Value-Relevance of Financial Reporting in Norway. 1965- 2004. Working Paper, February.

[37] Daferigbe, E. E. & George, E.M. (2020). Audit firm attributes and financial reporting quality of quoted manufacturing firms in Nigeria. International Journal of Economics and Management Studies, 7(1). Available at: https://www.researchgate.net/publication/339299461

[38] Austine, E., Chijioke, O. M., & Henry, S. A. (2013). Audit Firm Rotation and Audit Report Lag in Nigeria. Journal of Business and Management, 4(12), 13 -19

[39] Modugu, P. K., Eragbhe, E., & Ikhatua, O. J. (2012). Determinants of audit delay in Nigerian companies: empirical evidence. Research Journal of Finance and Accounting, 3(6), 46-54.

[40] Wickramasingha, S. R. M., & Nanayakkara, K. G. W. (2015). The external auditor’s opinions and the stakeholders’ purposes: An empirical analysis in SeriLanka. Kelaniya’s Journal of Management, 4(1), 31–49.

[41] Eneisik, E. & Akani, N. (2021). Relationship between audit quality and market value of quoted banks in Nigeria. International Journal of Innovative Finance and Economics Research, 9(4),18-41.

[42] Al-Muzaiqer, A. H., Ahmad, M., & Hamid, F. A. (2018). Timeliness of financial reporting and audit committee effectiveness: Evidence from UAE. UNIMAS Review of Accounting and Finance, 1(1), 99-112.

[43] Al-Muzaiqer, A. H., Ahmad, M., & Hamid, F. A. (2018). Timeliness of financial reporting and audit committee effectiveness: Evidence from UAE. UNIMAS Review of Accounting and Finance, 1(1), 99-112.

[44] Pradipta, A., & Zalukhu, A. G. (2020). Audit report lag: specialized auditor and corporate governance. GATR Global Journal of Business and Social Science Review, 8(1) 41 – 48.

[45] Zaitul, & Ilona, D. (2018). Gender in audit committee and financial reporting timeliness: the case of unique continental European Model. International Journal of Engineering & Technology, 7(2), 436–442.

@article{1710958,
      author = {Ikeche Stanley Chijioke, Emengini Steve Emeka},
      title = {Determinants and Value Relevance of Auditor?s Reporting Timeliness of Listed Manufacturing Firms in Nigeria},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {9},
      number = {3},
      pages = {1698-1716},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1710958.pdf},
      abstract = {The study investigated the determinants and value relevance of auditors? reporting timeliness among listed manufacturing firms in Nigeria from 2008 to 2023. Specifically, the study examined the effect of audit fees, audit firm size, and audit committee meeting frequency on auditor?s reporting timeliness of manufacturing firms in Nigeria. The sample comprised 30 manufacturing firms listed on the Nigeria Exchange Group during 2008-2023 periods. An ex-post facto research design was adopted, utilizing secondary data extracted from the published annual reports of 30 manufacturing firms selected across three key sectors of the Nigerian manufacturing industry. Data analysis was conducted using descriptive statistics, multicollinearity tests, Variance Inflation Factor (VIF), and panel data regression analysis, with the aid of SPSS version 26.0 at a 5% level of significance. Research results suggest that audit fees had significant positive effect on the timeliness in the consumer goods sector and across all sectors. Coefficient = 0.00000004102{P-value = 0.039 < 0.05}. Audit firm size also positively impacted timeliness in the consumer goods sector. Coefficient = -0.059{P-value = 0.003 < 0.05}. Audit committee meeting frequency had a significant negative effect on timeliness in the consumer goods sector and across all sectors. Coefficient = -0.059{P-value = 0.000 < 0.05}. The implication of these findings is that higher audit fees in conglomerate and consumer goods sectors are associated with more timely financial reporting. Also that preference for larger audit firms will result in timely financial reporting. While more frequent meetings will result in delay of financial report. Based on these findings, the study recommends that (i) Listed manufacturing firms in Nigeria, particularly in the consumer goods sector, should consider reviewing their audit fee structures to leverage the positive impact on timeliness of financial reports. (ii) Firms in the consumer goods sector should prioritize engaging larger audit firms to take advantage of their expertise and resources, which can enhance timeliness of financial reporting. (iii) To mitigate the negative impact of audit committee meeting frequency on timeliness, firms across all sectors, especially in the consumer goods and conglomerate goods sectors, should optimize their committee meeting schedules and ensure that meetings are focused and efficient.},
      keywords = {Audit Quality, Reporting Timeliness, Audit Fees, Audit Firm Size, Audit Committee Characteristics, Manufacturing Firms, Nigeria.},
      month = {September},
  }