For correspondence:-
Received: 16 Oct 2017 Accepted: 25 Dec 2017 Published: 31 Dec 2017
Citation: FIRM CHARACTERISTICS AND AUDIT REPORT DELAY IN NIGERIA: EVIDENCE FROM THE POST-IFRS ADOPTION ERA. Account Tax Rev 2002; 1(1):83-105 doi:
© 2002 The authors.
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Abstract
This paper examines the firm-specific characteristics commonly studied as the determinants of audit report delay using evidence from listed firms in Nigeria. The purpose is to examine these factors in light of Nigeria evidence. The method used is pooled regression analysis, using data collected from annual report and accounts of Nigerian listed firms from 2012 to 2016. The independent variables examined are firm size, firm complexity, financial leverage, firm performance, and external auditor type. Earnings management, industry classification, and audit fees were used as control variables. The results of the analyses show that of all the variables, only external auditor type has a positive and significant effect on audit report lag. Firm size, firm complexity, firm performance, industry classification, and audit fees have a negative but insignificant effect on audit report lag. Financial leverage and earnings management have positive but insignificant effects. The study recommends that regulators should consider specifying time limit on accounting reporting to reduce audit report delay. JEL Classification: M42
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