Audit Committee and Financial Performance of Listed Firms in Nigeria

Abstract

The broad objective of this study is to examine the impact of Audit Committee (AC) characteristics on the financial performance of listed consumer goods companies in Nigeria. The research sample comprises of eighteen (18) consumer goods companies and secondary data was generated from the annual accounts and reports which spanned from 2010-2019 financial years. Using the panel regression analysis; the study found that frequency of AC meetings, independence of AC and AC size have significant effect on financial performance. The study concluded that the presence of audit committee is vital in companies. The study therefore recommended that compliance with respect to audit committee size, meetings and independence should be adequately checked to ensure conformity.