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Corporate Attributes and Audit Delay in Emerging Markets: Empirical Evidence from Nigeria

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  • Ibadin Lawrence Ayemere Ph.D

    (Department of Accounting, Ambrose Alli University, Ekpoma Edo State)

  • Afensimi Elijah

    (Department of Accounting, University If Benin,)

Abstract

The broad objective of the study was to examine the determinants of audit report lag in the Nigerian context. Specifically, the study examined the effects of the following factors on Audit fees; Audit firm type, Leverage, Return on equity, Firm size, subsidiaries and Year-end. The panel research design was used for the study. The data was sourced from the annual reports of all financial companies quoted on the floor of the Nigerian stock exchange. The method of data analysis utilized in the study is the panel data estimation techniques (pooled, fixed and random effects regression). In line with the study objectives, the finding reveals that (i) Company size has no significant positive impact on audit delay. (ii) Firm’s financial performance has a significant impact on Audit delay. (iii) Audit firm type (big 4 and non-big 4) has a significant impact on Audit delay. (iv) Leverage has no significant impact on Audit delay and (v) Number of subsidiaries has a significant impact on Audit delay and (vi) Financial year end has no significant impact on Audit delay. The recommendation is that in achieving the objective of making the financial statements readily available for making timely decisions, the Nigerian stock exchange, Securities and Exchange Commission, the Financial Reporting Council, the Central Bank of Nigeria and other regulatory bodies should put in place measures to ensure strict compliance with 3 months window for financial reports preparation and presentation.

Suggested Citation

  • Ibadin Lawrence Ayemere Ph.D & Afensimi Elijah, 2015. "Corporate Attributes and Audit Delay in Emerging Markets: Empirical Evidence from Nigeria," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 5(3), pages 1-10, March.
    • Handle: RePEc:mir:mirbus:v:5:y:2015:i:3:p:1-10
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    References listed on IDEAS

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    1. Jianling Wang & Lin Song, 2006. "Timeliness of Annual Reports of Chinese Listed Companies," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 4(3), pages 241-257.
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    3. Asli Gunduzay Türel, 2010. "Timeliness of Financial Reporting in Emerging Capital Markets: Evidence from Turkey," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2010(3), pages 113-133.
    4. Turel, Asli, 2010. "Timeliness of financial reporting in emerging capital markets:Evidence from Turkey," MPRA Paper 29799, University Library of Munich, Germany.
    5. Soltani, Bahram, 2002. "Timeliness of corporate and audit reports: Some empirical evidence in the French context," The International Journal of Accounting, Elsevier, vol. 37(2), pages 215-246.
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    Cited by:

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    2. Lailah Fujianti & Indra Satria, 2020. "Firm Size, Profitability, Leverage as Determinants of Audit Report Lag: Evidence From Indonesia," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(2), pages 61-67, April.

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