Society of African Journal Editors

Kogi Journal of Management

CORPORATE GOVERNANCE AND THE QUALITY OF AUDIT IN THE NIGERIANBANKING SECTOR

Authors: S. J. Inyada; John Ugbede & Edicha, Muhammed

Journal: Kogi Journal of Management

The main objective of this study was to examine the relationship between Corporate Governance and Audit Quality in Deposit Money Banks in Nigeria. Data for the study were obtained from the secondary sources. In analyzing the data gathered, multiple regression analysis was used with the aid of Stata 12 statistical package. The result revealed that Board Size has no significant influence on the quality of audit. It has a very weak relationship with Audit Quality. Also Audit Committee and Ownership Concentration are very significant to Audit Quality with a very good relationship with audit quality. The paper recommended that the relevance of corporate governance should be strongly re-emphasized among banks alongside its associated benefits. The professional bodies of accountants in Nigeria and  other professional bodies should play a significant role in enlightening their members of the need for quality audit in the provision of audit services. Banks executives and board members should adhere strictly to the Code of Corporate governance to enhance accountability and transparency in banking practices and members of Audit Committee should also play a significant role in enhancing quality audit work. There should be strict adherence to the principle of corporate governance set by Central Bank of Nigeria and other corporate regulatory bodies in Nigeria.