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Audit Reporting Lag and Regulatory Compliance in Listed Financial Services Firms in Nigeria: A Cross-Sectoral Evaluation

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  • Khadijah Adeola Idowu
  • Jamiu Olakunle Tijani

Abstract

Motivated by existing scanty literature, this study comparatively evaluated ARL across four sub-sectors of the financial services sector in Nigeria. Using ex-post facto research design, it collected secondary data which spanned 2012 to 2018 from the annual reports of an adjusted population of forty-two (42) firms, spread across four sub-sectors, after applying filter on a population of fiftythree (53) firms. A single objective and hypothesis were specified. Statistical tools such mean, pie and line charts, Shapiro-Wilk (SW), Kolmogorov-Smirnov (KS), Brown-Forsythe (BF) and Analysis of Variance tests were employed to descriptively and inferentially analyse the data collected. Findings showed that average ARL differed significantly among the Banking, Other Financial Institutions, Insurance and Mortgage sub-sectors of the financial services industry in Nigeria (F (3,38) =4.990, p

Suggested Citation

  • Khadijah Adeola Idowu & Jamiu Olakunle Tijani, 2020. "Audit Reporting Lag and Regulatory Compliance in Listed Financial Services Firms in Nigeria: A Cross-Sectoral Evaluation," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(3), pages 163-173, September.
    • Handle: RePEc:khe:scajes:v:6:y:2020:i:3:p:163-173
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    More about this item

    Keywords

    Audit Reporting Lag; Financial Services Sector; Timeliness; International Financial Reporting Standards; Audit Delay;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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