Olabisi J., Kajola S.O., Abioro M.A., Oworu O.O. DETERMINANTS OFAUDIT QUALITY: EVIDENCE FROM NIGERIAN LISTED INSURANCE COMPANIES
DOI: https://doi.org/10.15688/ek.jvolsu.2020.2.17
Jayeola Olabisi
Ph.D. (Management Accounting), Federal University of Agriculture, Alabata Road, P.M.B 2240, 110001 Abeokuta, Nigeria, This email address is being protected from spambots. You need JavaScript enabled to view it. , olabisij@funaab.funaab, https://orcid.org/0000-0002-5390-0307
Sunday Olugboyega Kajola
Ph.D. (Financial Management), Federal University of Agriculture, Alabata Road, P.M.B 2240, 110001 Abeokuta, Nigeria, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-6490-7635
Matthew Adekunle Abioro
Ph.D. (Management), Federal University of Agriculture, Alabata Road, P.M.B 2240, 110001 Abeokuta, Nigeria, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0003-2185-1085
Oyefemi Olympus Oworu
Master Student (Accounting), Federal University of Agriculture, Alabata Road, P.M.B 2240, 110001 Abeokuta, Nigeria, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-4099
Abstract. The study examines the factors that determine audit quality among listed insurance companies in Nigeria. The study adopts Ex-post facto research design, and 15 companies are purposively selected, out of 25 listed insurance companies in Nigeria as of 2018. Panel data is extracted from the annual account and reports of the selected companies over a period of ten years (2009–2018). Pearson correlation analysis, Ordinary Least Square (OLS) and Regression are the statistical tools used for the analysis. The results of the study reveal a significant relationship between the audit firm size, audit tenure, audit fee, cash flow and audit quality (p < 0.05). However, there is no significant relationship between auditors independence, joint audit and audit quality (p > 0.05). The study concludes that audit fees, audit firm size, audit tenure and cash flow from operations are major determinants of audit quality as each of them has significantly contributed to audit quality of listed insurance companies in Nigeria. Therefore, the Nigerian listed insurance companies should place a high premium on audit firm size, audit fees, and short term audit tenure when engaging services of an audit firm.
Key words: quality audit, auditor’s tenure, audit fee, auditor’s independence, joint audit, cash flow from the operation.
DETERMINANTS OFAUDIT QUALITY: EVIDENCE FROM NIGERIAN LISTED INSURANCE COMPANIES by Olabisi J., Kajola S.O., Abioro M.A., Oworu O.O. is licensed under a Creative Commons Attribution 4.0 International License.
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