Abstract

This study which focused on the "the effect of audit quality on the corporate performance of selected banks in Nigeria" was prompted as a result of inability of audit to prevent the occurrence of fraud and material misstatement in the bank's financial reports. Thus, this study is aimed at assessing the effect of audit quality on the corporate performance of selected banks in Nigeria. Specifically, the study examined the effect of audit firm size on return on asset of Nigerian banks determined the extent audit committee independence affect return on equity of Nigerian banks and ascertained the effect of audit committee on the profit margin of Nigerian banks. Three research questions and hypotheses were formulated in line with the objectives of this study. The population of the study consists of sixteen deposit money banks quoted on the Nigerian Stock Exchange. Data for the study were extracted through the financial statement of the banks from 2008 to 2017 and was tested with regression statistical tool using the Scientific Package for Social Sciences SPSS Version 20. Based on the data analyzed, the study found that firm size has significant effects on return on assets of quoted Nigerian banks also that audit committee independent has significant affect return on equity of quoted Nigerian banks. Another finding is that audit committee size has significantly affects profit margin of quoted Nigerian banks. Based on this, the study recommended among others that companies should make use of the services of audit firms with unquestionable track records of audit quality and reputation hence the debate on audit quality is not a settled matter. Ogbodo, Okenwa Cy | Akabuogu, Nzube J. "Effect of Audit Quality on the Financial Performance of Selected Banks in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-1 , December 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18961.pdf http://www.ijtsrd.com/management/accounting-and-finance/18961/effect-of-audit-quality-on-the-financial-performance-of-selected-banks-in-nigeria/ogbodo-okenwa-cy

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