THE IMPACT OF AUDIT COMMITTEE ATTRIBUTES ON FINANCIAL PERFORMANCE OF LISTED CONSUMER INDUSTRIES IN NIGERIA

Abstract

This study examines the effect of audit committee attribute on the financial performance of listed consumer goods companies in Nigeria for the period of 11 years from (2011-2021). A census sampling technique was used; the study selected 15 consumer goods firms listed on the Nigerian Stock Exchange.  Descriptive and multiple regression analysis was run in the study to analyze financial performance figures, while correlation and regression analysis was conducted to test the relationship between variables. The study finds that audit committee size was significantly and positively related to financial performance, whereas audit committee independence and audit committee meetings were insignificantly related to financial performance. However, the study recommends that companies should ensure a large number of members of the audit committee. The study also recommends that audit members should reduce the number of meetings conducted annually these might bring about confusion and too many opinions and the decision that could lead to a poor financial performance by firms