Browsing by Author "Isaiah Adeoluwa TADE"

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    Audit Quality and Financial Performance of Listed Nigerian Money Deposit Banks in Nigeria
    (Lead City University, 2023-12) Isaiah Adeoluwa TADE
    Many countries' economies may not grow to their current levels without the banking sector's function as financial mediators connecting surplus and deficit economic agents. Therefore, it remains a significant global phenomenon for corporate organisations to continuously achieve improvement in corporate performance. However, in Nigeria the ripple effect of the financial crisis, economic recession and economy recovery policies both from the Federal government and the CBN have created tougher times for many Nigerian business including banks and this has negatively affected the performance of the banking sector in the country. To address these issues in the Nigeria’s banking sector for the better, both the industry regulator and banking experts suggested that the banks corporate parent needs to conduct audit assignment with an assurance of the high audit quality can be used as a framework to address the many challenges. Hence, on the strength of the signalling and agency theories, this study examined the effects of audit quality on financial performance of DMBs in Lagos State. The study adopted an ex-post facto research design by utilizing secondary data obtained from the selected quoted banks annual reports, using time series data from 2016 to 2021. The study adopted correlation analysis and ordinary least square regression analysis to test the hypotheses formulated. The findings of the study revealed that all the dimensions of audit quality have positive and significant relationship with the financial performance. Moreover, audit quality has positive and significant effect on financial performance of DMBs in Lagos ria ((R 2= 0.76, p= 0.000). The study concluded that audit quality do have effect on financial performance of listed DMBs in Nigeria. Therefore, it is imperative for management of DMBs to see that quality audit engagement is critical for the long-term sustainability of their establishment. Keywords: Audit quality, Deposit Money Banks, Financial Performance. Word Count: 300