Effect of corporate governance attributes on audit quality of listed insurance companies in Nigeria

Abstract

The study examines the effect of corporate governance attributes on audit quality of listed insurance companies in Nigeria spanning the period 2018-2022. The study obtained it data from the 22 insurance companies listed in the Nigerian Exchange Group (NGX), covering a five-year period 2018-2022. Multiple regression was used in analyzing the data of the study. The findings revealed that board size and board financial expertise are not significantly related to audit quality. However, board independence and board gender diversity are significantly influencing audit quality of the listed insurance companies in Nigeria. The study concluded that, corporate governance is significantly influencing audit quality. Therefore, the study recommends that other factors such as financial reporting regulatory enforcement mechanisms are strengthened to ensure that companies achieve a high level of financial reporting quality. Also, more board members with accounting expertise should be included on the audit committee to make it competent with regards to financial reporting.