Effect of Audit Quality on Financial Performance: Evidence from Deposit Money Banks in Nigeria

Abstract

This study investigates the effect of audit quality on the financial performance of deposit money banks in Nigeria. The study adopted ex post facto research design, data for the study were collected from annual reports and accounts of quoted Nigerian deposit money banks. Regression analysis and coefficient money banks. Regression analysis and coefficient correlation were employed to test correlation were employed to test the formulated the formulated hypotheses. hypotheses. Findings revealed that there is a Findings revealed that there is a significant effect between audit quality and financial significant effect between audit quality and financial performance of Nigerian deposit money banks. Based Nigerian deposit money banks. Based on this, the study recommends among others that the on this, the study recommends among others that the management of deposit money banks management of deposit money banks in Nigeria in Nigeria should increase the number of foreign directors that should increase the number of foreign directors that have skills, experience and would like to protect their have skills, experience and would like to protect their integrity, reputation and professional competence