226
Audit Committee and Audit Delay of Listed Consumer Goods Firms
in Nigeria
Jennifer Ifeoma Ozoelo
*1
1
PG Scholar, Department of Accounting, Faculty of Management Sciences, Nigerian Defence Academy,
Kaduna, Nigeria
Onipe Adabenege Yahaya
2
2
Associate Professor, Department of Accounting, Faculty of Management Sciences, Nigerian Defence
Academy, Kaduna, Nigeria
Samuel Gambo Joshua
3
3
Assistant Professor, Department of Accounting, Faculty of Management Sciences, Nigerian Defence
Academy, Kaduna, Nigeria
*Corresponding author: jenniferozoelo@gmail.com
JEL Classification Codes:
G2, G32, G34
Acknowledgements
The authors are grateful to the Journal Editor and two other reviewers for their constructive
feedback on the earlier versions.
Abstract
The study examined the effect of audit committee on Audit Delay of listed consumer
goods firms in Nigeria. The ex-post facto research design was employed in the study.
Secondary data was collected from annual reports and accounts of listed consumer
goods firms in Nigeria. The population of the study is twenty One (21) and the sample
size is fifteen (15) for a period 10 years (2012-2021). Six (6) firms were flitter out due
the technical suspension by NGX during the period of this study. The study employed
a census sample technique. Panel corrected standard errors (PCSEs) model was
employed as technique of data analysis. The findings of the study revealed that the
audit committee size (ACS) has a negative and significant effect on Audit Delay (AD).
Also, the Audit Committee Financial Expertise (ACFE) revealed a positive and
insignificant effect on Audit Delay (AD). The study recommended that the management
of the firms should continue to sustain the size or numbers of the committee in their
respective audit committee since the committee size have been empirically proven to
have significantly reduced the time frame of reporting.
Keywords: audit committee, audit delay, consumer goods firm, listed firms, Nigeria
To cite this article
Ozoelo, J. I., Yahaya, O. A., & Joshua, S. G. (2023). Audit committee and audit delay of listed
consumer goods firms in Nigeria. Indonesian Accounting Literacy Journal, 3(4), 226-242.
Indonesian Accounting Literacy Journal
Vol. 3, No. 4, September 2023, pp. 226 – 242
©Jurusan Akuntansi Politeknik Negeri Bandung