AUDIT COMMITTEE CAPABILITIES AND INTERNET FINANCIAL REPORTING OF LISTED FINANCIAL FIRMS IN NIGERIA

The aim of this research is to look into the impact of audit committee capabilities and internet financial reporting on Nigerian listed financial firms. For this study, a correlation research design was used. All fifty-two (52) financial firms listed on the Nigerian Stock Exchange as of April 2020 make up the study's population. A total of 44 financial firms listed on the Nigeria Stock Exchange were sampled using a judgemental sampling process. Secondary data for measuring internet financial reporting transparency was extracted from the investor relations sections of each sample firm's corporate website, while secondary data for measuring audit committee capabilities came from the non-financial information section of the sampled firms' annual reports for a five-year period spanning the 2014 to 2018 financial years. The researchers used a pool of ordinary linear regressions to analyse the results. The validity of statistical inferences was tested using a diagnostic test. The study's results reveal that audit committee operation and competency have a significant positive relationship with internet financial reporting. Meanwhile, there is no connection between audit committee independence and audit committee size and internet financial reporting. As a result, the study suggests that regulators allow businesses to disclose financial details through their websites. A series of lectures or workshops should be held to inform the board and management about how the implementation of internet financial reporting will draw in more shareholders, increase transparency, and save money, according to the analysis. This study is restricted to only listed financial firms in Nigeria. Therefore, the findings of this study cannot be generalised. Because this study is limited to listed financial firms in Nigeria, future research can be expanded to other business sectors.

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Pengaruh Karakteristik Komite Audit, Perusahaan dan Struktur Kepemilikan Terhadap Kecurangan Pelaporan Keuangan

SAR (Soedirman Accounting Review) Journal of Accounting and Business ◽

10.20884/1.sar.2016.1.2.304 ◽

2016 ◽

Vol 1 (2) ◽

pp. 50

Author(s):

Andrian Budi Prasetyo

Keyword(s):

Financial Reporting ◽

Ownership Structure ◽

Audit Committee ◽

Quantitative Methods ◽

Stock Exchange ◽

Secondary Data ◽

Annual Reports ◽

Fraudulent Financial Reporting ◽

Financial Expertise ◽

Firm Characteristic

This study examines the effect of audit committee characteristics, firm characteristic and ownership structure on the likelihood of fraudulent financial reporting. Audit committee characteristics is examined by audit committee financial expertise, meetings of the audit committee and the audit committee tenure. Firm characteristic is examined by the leverage, firm size, firm’s growth rate and external auditor. Ownership structure is examined by managerial ownership and institutional ownership. This research is using a quantitative methods research. This research is using secondary data that comes from the cases list of Otoritas Jasa Keuangan (OJK) and annual reports of the listed companies on the Indonesia Stock Exchange (IDX). Using a sample of 15 fraud and 15 non-fraud firms, we did not find a significant relation between the independent variabels and fraudulent financial reporting.

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Effect of Audit Committee Expertise and Meeting on Earnings Quality in Indonesian Listed Companies: A Conceptual Approach

Journal of Accounting and Finance in Emerging Economies ◽

10.26710/jafee.v3i1.97 ◽

2017 ◽

Vol 3 (1) ◽

pp. 47-54

Author(s):

Lidya Primta Surbakti ◽

Hasnah Binti Shaari ◽

Hasan Mohammed Ahmed Bamahros

Keyword(s):

Corporate Governance ◽

Conceptual Framework ◽

Financial Reporting ◽

Audit Committee ◽

Stock Exchange ◽

Earnings Quality ◽

Empirical Studies ◽

Annual Reports ◽

Conceptual Approach ◽

The Impact

Purpose: The purpose of this paper will focus on monitoring and improving corporate governance through earnings quality. In particular, audit committee effectiveness is seen as a significant factor in ensuring effective corporate governance and in view of this, the aim of this paper is to develop a conceptual framework that will examine the impact expertise, meeting and meeting attendance on the earnings quality of companies. Methodology: Future empirical studies could be conducted quantitatively with secondary data. The report from annual reports of companies listed in Indonesia Stock Exchange (IDX) starting from the period of implementation of the new code on implementation guideline in 2013. Implication: In fact, the main issue was centered on financial reporting manipulations and there is need to examine and develop a mechanism that in addition, agency theory is expected to explain the above three factors in providing explanation to accounting information that relates to the earnings quality under study. Finally, it is expected that future empirical studies with this conceptual framework can enhance earnings quality for users of financial statements such as: investors, creditors, shareholders and other stakeholders in Indonesia and beyond.

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THE ROLE OF FIRM CHARACTERISTICS AND AUDIT COMMITTEE SIZE IN TIMELINESS OF FINANCIAL REPORTIN

JAAKFE UNTAN (Jurnal Audit dan Akuntansi Fakultas Ekonomi Universitas Tanjungpura) ◽

10.26418/jaakfe.v7i1.39043 ◽

2020 ◽

Vol 7 (1) ◽

Author(s):

Merryani Merryani ◽

Juanda Astarani

Keyword(s):

Financial Reporting ◽

Firm Size ◽

Audit Committee ◽

Stock Exchange ◽

Secondary Data ◽

Annual Reports ◽

Firm Characteristics ◽

Relationship Of ◽

The Relationship

This study examines the relationship of firm characteristics and audit committeesize with Timeliness of Financial Reporting (TIML) among retailer trade companies listed in Indonesian Stock Exchange. This study focuses on three variables of firm characteristics (i.e., firm size, profitability, and leverage) and one variable of corporate governance (i.e., audit committee size). A quantitative method of analysis, secondary data from annual reports for the period of 2012 to 2016, and purposive sampling, was adopted. The results revealed that both profitability and leverage are negatively associated with TIML, yet no significant association was found regarding the firm size and audit committee size with TIML. On the other hand, the results also revealed that firm size, profitability, leverage, and audit committee size could enhance TIML since those variables are found to be simultaneously associated with TIML.Keywords: Timeliness, Financial Reporting, Reporting Lag

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Ownership Structure, Board Composition and Voluntary Disclosure by Non-financial Firms Listed in )ASE)

International Business Research ◽

10.5539/ibr.v13n7p93 ◽

2020 ◽

Vol 13 (7) ◽

pp. 93

Author(s):

Dana Adel Alqatameen ◽

Mahmoud Abd Alhaleem Alkhalaileh ◽

Mohammad Nadeem Dabaghia

Keyword(s):

Financial Reporting ◽

Ownership Structure ◽

Voluntary Disclosure ◽

Stock Exchange ◽

Annual Reports ◽

Board Composition ◽

Financial Firms ◽

The Board Of Directors ◽

Financial Disclosures ◽

The Impact

This study aims to examine the impact of ownership structure and board composition on the level of voluntary disclosure by non-financial firms listed in the Amman Stock Exchange (ASE). The study uses panel hand-collected data from 443 annual reports for a 5-year period (2012 – 2016) and employs an OLS-regression to test the study predictions. Compatible with the study predictions and most prior related studies’ findings, both higher managerial ownership and the CEO-duality produce low levels of voluntary disclosure, while foreign ownership is positively associated with the level of voluntary disclosure. Findings also indicate that larger firms deemed to provide higher levels of voluntary disclosures than smaller firms. Besides, companies audited by big4 firms disclose more voluntary information than those audited by others. The study findings have implications for policymakers and regulators. Policymakers and regulators may encourage, emphasize and enforce, if necessary, the regulation that enhances the quality of financial disclosures including the separation between the Chairman of the board of directors and CEO roles to improve the level of control and supervision and enhance the transparency of financial reporting by Jordanian firms.

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Pengaruh Karakteristik Komite Audit, Perusahaan dan Struktur Kepemilikan Terhadap Kecurangan Pelaporan Keuangan

SAR (Soedirman Accounting Review) Journal of Accounting and Business ◽

10.20884/1.sar.2016.1.1.304 ◽

2016 ◽

Vol 1 (1) ◽

pp. 50

Author(s):

Andrian Budi Prasetyo

Keyword(s):

Financial Reporting ◽

Ownership Structure ◽

Audit Committee ◽

Quantitative Methods ◽

Stock Exchange ◽

Secondary Data ◽

Annual Reports ◽

Fraudulent Financial Reporting ◽

Financial Expertise ◽

Firm Characteristic

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INSTITUTIONAL SHAREHOLDING A MODERATOR TO AUDIT COMMITTEE CHARACTERISTICS AND EARNINGS MANAGEMENT OF LISTED CONGLOMERATE FIRMS IN NIGERIA

Scholedge International Journal of Business Policy & Governance ISSN 2394-3351 ◽

10.19085/journal.sijbpg041001 ◽

2018 ◽

Vol 4 (10) ◽

pp. 98 ◽

Cited By ~ 1

Author(s):

Abbas Umar ◽

Shehu Usman Hassan

Keyword(s):

Earnings Management ◽

Audit Committee ◽

Best Practice ◽

Stock Exchange ◽

Secondary Data ◽

Annual Reports ◽

Listed Firms ◽

Clear Cut ◽

Financial Expertise ◽

The Impact

The relevance of audit committee characteristics in constraining managerial opportunistic tendencies has been explored by various researchers; the confrontational view in terms of the direction of their relationship has paint a vague picture which begs the introduction of other monitoring mechanism that may give a clear cut picture on direction of this relationship. This study uses two-stage least squares model and examines the impact of audit committee characteristics, institutional shareholding on discretionary accruals of listed conglomerate firms in Nigeria. Secondary data were extracted from the annual reports of 6 most active listed firms on the Nigerian Stock Exchange for the period 2006 to 2015. After running the OLS regression, a robustness test was conducted for validity of statistical inferences. A multiple regression was employed using HACC Model. The study documents that audit committee characteristic and institutional shareholding has significant impact on earnings management of the firms, specifically, audit committee size, audit committee financial expertise and institutional shareholding are inversely related with earnings management, while audit committee independence is positively and significantly related with earnings management, but there is no such impact of audit committee meetings. Furthermore, institutional shareholding and audit committee size are inversely related with earnings management; audit committee independence and institutional shareholding are positively, strongly and significantly constraining earnings management, while audit committee financial expertise with committees’ meetings and institutional shareholding reveals no impact on earnings management. In line with the findings, the study recommended that regulatory bodies like CAMA, SEC, and NSE should ensure that listed conglomerate firms in Nigeria strictly adhere with code of best practice so that the interest of various stakeholder’s would be fully protected.

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Determinants of audit fees in quoted financial and non-financial firms

Corporate Law and Governance Review ◽

10.22495/clgrv3i2p3 ◽

2021 ◽

Vol 3 (2) ◽

pp. 30-40

Author(s):

Wasiu Ajani Musa ◽

Ramat Titilayo Salman ◽

Ibrahim Olayiwola Amoo

Keyword(s):

Financial Reporting ◽

Audit Quality ◽

Secondary Data ◽

Sampling Technique ◽

Audit Fees ◽

Three Dimensions ◽

Annual Reports ◽

Lagrangian Multiplier ◽

Financial Firms ◽

Lm Test

Regulators have ensured the compulsory disclosure of audit fees in the financial statement to overcome abnormal fees and instill credibility in the financial report since audit pricing is contingent upon audit quality. However, discrepancies between audit fee dimensions are evidenced in the abnormal audit fees, resulting in accounting scandals. Hence, this study assessed the determinants of audit fees in quoted financial and non-financial firms by building a model underpinned by agency theory (Mitnick, 2006) and economic theory of product differentiation (Beath & Katsoulacos, 1991). Secondary data were utilized from companies’ annual reports between 2009 and 2018 using the purposive sampling technique. Furthermore, Breusch-Pagan Lagrangian multiplier (LM) test and the Hausman test indicated the consistency of the models. The static panel regression estimations showed that auditee size, risk, auditor size, reputation, engagement lag, and International Financial Reporting Standards (IFRS) implementation significantly affect audit fees in both sectors. This study concluded that the three dimensions largely determine audit fees. This study instructively proposed that assurance clients should devise an outline of guidelines and practices to guide activities in the sectors by monitoring the variables that impact audit fees

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Audit committee effectiveness and financial reporting timeliness

African Journal of Economic and Management Studies ◽

10.1108/ajems-11-2016-0163 ◽

2018 ◽

Vol 9 (1) ◽

pp. 34-55 ◽

Cited By ~ 6

Author(s):

Ahmed Atef Oussii ◽

Neila Boulila Taktak

Keyword(s):

Financial Reporting ◽

Audit Committee ◽

Emerging Market ◽

Listed Companies ◽

Audit Committees ◽

Future Research ◽

Governance System ◽

Content Type ◽

Financial Expertise ◽

The Impact

Purpose The purpose of this paper is to investigate whether there is any relationship between the effectiveness of an audit committee and the financial reporting timeliness of Tunisian listed companies as proxied by external audit delay (AD). Analysis focuses on five audit committee characteristics: authority, financial expertise, independence, size and diligence. Design/methodology/approach Empirical tests address 162 firm-year observations drawn from Tunisian listed companies during 2011-2013. Findings Multivariate analyses indicate that audit committees with members who have financial expertise are significantly associated with shorter AD. Thus, the results suggest that audit committee financial expertise contributes to the improvement of financial statements’ timeliness. Research limitations/implications The audit committee attributes examined in this study were based on DeZoort et al. (2002) framework. There could be other aspects of audit committee effectiveness such as audit committee tenure and audit committee chair characteristics, which were not addressed in the present study. Thus, future research may consider and examine these other components of audit committee effectiveness. Practical implications Findings have managerial implications. Companies can re-look into how to further improve audit committee composition in order to enhance the timeliness of financial reporting. The issues of audit committee effectiveness and timely reporting also affect regulators and policy makers since they need to play a role in the establishment of effective audit committees and the improvement of financial reporting timeliness. Originality/value This study is one of few that have examined the impact of audit committee effectiveness on ADs in an emerging market country. Findings lend credence to the belief that audit committee members’ financial expertise enhances the quality of financial reporting by firms in a North African market criticized for the lack of maturity of its corporate governance system (Klibi, 2015; Fitch Ratings, 2009).

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ANALISIS FAKTOR - FAKTOR YANG MEMPENGARUHI KETEPATAN WAKTU PENYAMPAIAN LAPORAN KEUANGAN PERUSAHAAN INDUSTRI BARANG KONSUMSI DI BURSA EFEK INDONESIA

AT-TAWASSUTH: Jurnal Ekonomi Islam ◽

10.30829/ajei.v5i2.8446 ◽

2020 ◽

Vol 5 (2) ◽

pp. 333

Author(s):

Devi Ayu Putri

Keyword(s):

Financial Reporting ◽

Audit Committee ◽

Stock Exchange ◽

Manufacturing Sector ◽

Participant Observation ◽

Annual Reports ◽

Company Size ◽

Public Accounting ◽

Accounting Firms ◽

Public Accounting Firms

This study aims to examine and analyze (1) the effect of profitability on the timeliness of financial reporting (2) the effect of leverage on the timeliness of financial reporting (3) the effect of company size on the timeliness of financial reporting (4) the effect of reputation of public accounting firms on the accuracy financial reporting time and (5) the influence of the audit committee on the timeliness of financial reporting of companies listed on the Indonesian stock exchange. This research was conducted in the manufacturing sector of the consumer goods sector in 2012-2016 on the Indonesia Stock Exchange. Methods of research data using non-participant observation methods, by analyzing the annual reports and audit financial reports obtained. The data analysis method is logistic regression analysis, with hypothesis testing carried out by multivariate testing. The results showed that the profitability and audit committee had a positive effect on the timeliness of financial reporting, while leverage, company size, reputation of public accounting firms had no effect on timeliness of financial reporting. This research is expected to provide significant implications for related parties in assessing and predicting the timeliness of financial report submission.

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Corporate Governance Factors and Auditor Going Concern Assessments

Review of Accounting and Finance ◽

10.1108/eb043428 ◽

2005 ◽

Vol 4 (3) ◽

pp. 5-29 ◽

Cited By ~ 9

Author(s):

Susan Parker ◽

Gary F. Peters ◽

Howard F. Turetsky

Keyword(s):

Corporate Governance ◽

Financial Reporting ◽

Financial Distress ◽

Audit Committee ◽

Future Research ◽

Going Concern ◽

Sarbanes Oxley ◽

Auditing Standards ◽

Distressed Firms ◽

The Impact

When making going concern assessments, Statement on Auditing Standards No. 59 (Auditing Standards Board 1988) directs auditors to consider the nature of management's plans and ability to mitigate periods of financial distress successfully. Corporate governance factors reflect attributes of control, oversight, and/or support of management's plans and actions intended to overcome financial distress. Correspondingly, this study investigates the impact of certain corporate governance factors on the likelihood of a going concern modification. Using survival analysis techniques, we examine a sample of 161 financially distressed firms for the time period 1988–1996. We find that auditors are twice as likely to issue a going concern modification when the CEO is replaced. We also find that going concern modifications are inversely associated with blockholder ownership. We also confirm Carcello and Neal's (2000) findings with respect to the association between an independent audit committee and an increased likelihood of modification. In a repeated events setting, we find that insider ownership and board independence are inversely associated with repeated going concern modifications. Our study concludes by proposing implications for the current financial reporting environment (including the Sarbanes‐Oxley Act of 2002) and future research avenues.

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