For correspondence:-
Received: August 25, 2019 Published: December 21, 2019
Citation: Corporate Governance Practices and External Auditors’ Reporting Lag in Nigeria. Account Tax Rev 2004; 3(4):15-31 doi:
© 2004 The authors.
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Abstract
In line with the notion that efficient corporate governance will improve performance and protect the interest of the shareholders, this study examined the influence of corporate governance practices on audit report lag in Nigeria non-financial firms. This study was achieved via regression analysis on secondary data obtained from the annual reports and accounts of the 21 sampled non financial firms by listed on the Nigerian stock exchange using a purposive sampling technique. From the findings, it was discovered that board size, gender diversity, board meetings and audit committee meetings have no significant negative effect on audit report lag while board and audit committee independence were found to exert negative significant influence on audit report lag of the selected firms. The study could not found evidence in support of a significant negative influence of firm size as a control variable on audit report lag. Arising from findings, the study concludes that board and audit committee independence are the significant drivers of auditreport lag in Nigerian non financial firms. Arising from the conclusion, the study recommends that board independence should be encouraged so as to reduce the efficacy of audit delay.
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