Corporate Governance and Audit Delay in Nigeria Quoted Firms.

Student: Racheal Omua Ehigal (Project, 2025)
Department of Accountancy
Auchi Polytechnic, Auchi, Edo State

Abstract

The study examined corporate governance and audit delay in Nigeria quoted firms. The research design for this study is the pooled sectional design. The data for the study were obtained from the secondary source through the use of annual report. The study adopted the Maximum likelihood estimation (MLE) technique for analysis. The pooled probit regression was used to estimate the parameters of the stated models. The result from the analysis at 5% level of significance revealed that; board size significantly affects audit delay.; Board size has no significant effect on audit delay; Board Independence has a significant impact on audit delay in Nigeria, Ownership structure has a significant impact on audit delay in Nigeria. The study recommended that the board size should not be too large, specifically, maximum of nine (9) members. This would assist in facilitating quick decision in relation to audited financial statement for disclosure; Also, board composition should include greater proportion of independent outside directors with corporate experience; Lastly, size of the firm should not be a yardstick for delay of the audit report. Once an auditor is engaged, irrespective of the size of the firm, it is expected that all logistics are put in place so as to meet up with the agreed completion of the audit for prompt disclosure.

Keywords
Corporate governance audit delay board size board independence ownership structure financial reporting Nigeria quoted firms auditor independence IFRS.
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Institutions