IDEAS home Printed from https://ideas.repec.org/a/rss/jnljms/v5i2p1.html
   My bibliography  Save this article

Egypt, Information and communication technology (ICT), Human development

Author

Listed:
  • Okaro Sunday Chukwunedu
  • Okafor Gloria Ogochukwu
  • Egbunike Francis Chiedu

Abstract

This study examines the attributes that make for audit committee effectiveness in Nigeria from the perspective of Professional Accountants. A survey research design was adopted for the study. 120 Professional Accountants working as Auditors, Accountants and Accounting Academics in the South Eastern part of Nigeria and randomly selected were targeted at their monthly district society meetings and in their work places. The Professional Accountants were either members of the Institute of Chartered Accountants of Nigeria (ICAN) or members of Association of National Accountants of Nigeria (ANAN). The two bodies are the only officially recognized bodies of Accountants in Nigeria. 89 responses were received constituting 74% of the respondents. We considered this adequate to enable meaningful deductions to be made. A questionnaire in the likert format was used to elicit the responses from the respondents. The data of study was analysed and ranked first on the basis of strongly agree responses and then on the basis of mean of the responses. The hypothesis of study was tested with ANOVA test statistic. Five most important factors stood out as having a strong influence on audit committee effectiveness in Nigeria. These are in that order: - Financial literacy of members - Only non-executive Directors should be members of the Committee - Members must be open to regular training - Members must be able to ask relevant questions - Members must have machinery for periodic evaluation of their performances. Findings add to the scanty literature in this area in Nigeria and have implication for regulatory action.

Suggested Citation

  • Okaro Sunday Chukwunedu & Okafor Gloria Ogochukwu & Egbunike Francis Chiedu, 2015. "Egypt, Information and communication technology (ICT), Human development," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 5(2), pages 125-135.
    • Handle: RePEc:rss:jnljms:v5i2p1
    as

    Download full text from publisher

    File URL: http://rassweb.org/admin/pages/ResearchPapers/Paper%201_1497375996.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Z. Jun Lin & Jason Z. Xiao & Qingliang Tang, 2008. "The roles, responsibilities and characteristics of audit committee in China," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 21(5), pages 721-751, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhu, Jigao & Ye, Kangtao & Tucker, Jennifer Wu & Chan, Kam (Johnny) C., 2016. "Board hierarchy, independent directors, and firm value: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 262-279.
    2. Irine Herdjiono, 2019. "The differences of corporate governance influence on state-owned enterprise and non-state-owned entrerprise’s performance: the case of Indonesia," Journal of Financial Studies, Institute of Financial Studies, vol. 6(4), pages 83-93, June.
    3. Ali Altug Bicer & Imad Mohamed Feneir, 2019. "The Impact of Audit Committee Characteristics on Environmental and Social Disclosures:Evidence from Turkey," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 8(3), pages 111-121, May.
    4. Aladdin Dwekat & Elies Seguí‐Mas & Guillermina Tormo‐Carbó & Pedro Carmona, 2020. "Corporate Governance Configurations and Corporate Social Responsibility Disclosure: Qualitative Comparative Analysis of Audit Committee and Board characteristics," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 2879-2892, November.
    5. Samuel Akpovwre Eyenubo & Mudzamir Mohammed & Mohammad Ali, 2017. "Audit Committee Effectiveness of Financial Reporting Quality in Listed companies in Nigeria Stock Exchange," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(6), pages 487-505, June.
    6. Ross Taplin & Yafang Zhao & Alistair Brown, 2014. "Failure of auditors: The lack of compliance for business combinations in China," Regulation & Governance, John Wiley & Sons, vol. 8(3), pages 310-331, September.
    7. Wu, Huiying & Patel, Chris & Perera, Hector, 2015. "Implementation of “audit committee” and “independent director” for financial reporting in China," Advances in accounting, Elsevier, vol. 31(2), pages 247-262.
    8. Junhui Wang & Jerry Sun, 2022. "The role of audit committees in social responsibility and environmental disclosures: evidence from Chinese energy sector," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 19(1), pages 113-128, March.
    9. Okaro Sunday Chukwunedu & Okafor Gloria Ogochukwu & Oraka Azubuike Onuora, 2014. "Factors Affecting Audit Committee Quality in Nigeria," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(12), pages 398-423, December.
    10. Teddy Ossei Kwakye & Emerald Edem Welbeck & Godfred Matthew Yaw Owusu & Fred Kwasi Anokye, 2018. "Determinants of intention to engage in Sustainability Accounting & Reporting (SAR): the perspective of professional accountants," International Journal of Corporate Social Responsibility, Springer, vol. 3(1), pages 1-13, December.
    11. Teng Lin & Marion Hutchinson & Majella Percy, 2015. "Earnings management and the role of the audit committee: an investigation of the influence of cross-listing and government officials on the audit committee," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(1), pages 197-227, February.
    12. Hongyan Geng & Maoyong Cheng & Junrui Zhang, 2021. "Effects of wealth management products on bank risk in China: The role of audit committee effectiveness," Pacific Economic Review, Wiley Blackwell, vol. 26(5), pages 575-616, December.
    13. Shujun Ding & Chunxin Jia & Yuanshun Li & Zhenyu Wu, 2010. "Reactivity and Passivity After Enforcement Actions: Better Late Than Never," Journal of Business Ethics, Springer, vol. 95(2), pages 337-359, September.
    14. Ahmad Adel Jamil Abdallah & Jumana Yousef Ahmad Musallam & Ayman Bader, 2020. "The Role of the Audit Committee in Improving Voluntary Disclosure “Field Study on Jordanian Insurance Companies"," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 19(1), pages 05-16, June.
    15. Jianlei Han & Jing He & Zheyao Pan & Jing Shi, 2018. "Twenty Years of Accounting and Finance Research on the Chinese Capital Market," Abacus, Accounting Foundation, University of Sydney, vol. 54(4), pages 576-599, December.
    16. Sumaia Ayesh Qaderi & Turki Raji Alhmoud & Belal Ali Abdulraheem Ghaleb, 2020. "Audit Committee Features and CSR Disclosure: Additional Evidence From an Emerging Market," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 226-237, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rss:jnljms:v5i2p1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Danish Khalil (email available below). General contact details of provider: http://www.rassweb.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.