Effect of audit quality and performance of cement companies

Abstract

This study examines the effect of Quality Audit on the Performance of listed Cement companies in Nigeria. The objective of the study is to evaluate audit independence and audit fees on financial performance. The study covered three cement companies listed on the Nigerian Exchange Group NGX. The study period was 2013 to 2021. Secondary data was extracted from annual financial reports of the cement companies. The finding of the study indicates both audit independence and audit fee has significant association with financial performance among cement companies. The management is also recommended to continue to ensure the independence of the auditors and should accord the auditors any necessary cooperation for the smooth discharge of their audit assignment. They should not in any way try to induce or influence the auditors financially or otherwise while carrying out their audit assignments. Cement companies should pay the auditors they audit renumeration or fees charged, they should not owe the auditors any renumeration or fees at the end of the audit assignments to motive his performance in subsequent engagements.