EFFECT OF BOARD ATTRIBUTES ON AUDIT REPORT OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Keywords:
Audit report, Board independence, Board expertise, Board size, Board gender diversityAbstract
This study examined the effect of board attributes on audit report outcomes for listed Deposit Money
Banks (DMBs) in Nigeria from 2014 to 2023. The study used an ex-post facto research design primarily,
using secondary data from annual reports of 13 publicly listed DMBs as the sample, which was obtained
from Nigerian Exchange Group (NGX). The data analysis technique that was used was logistic regression
and revealed that board size, board independence, and financial expertise significantly impact audit
reports, while gender diversity has a positive, but no statistically significant effect on audit reports. These
results provide support for Agency Theory and indicate that recognized governance structures can limit
information asymmetry, which is associated with financial reporting and accountability. The study
recommended that Nigerian DMBs give prominence to board independence, financial expertise and, while
keeping to the appropriate number of board size, thereby improving audit reports and also assuring
investors.
