The Effect of Audit Committee’s Quality onthe Financial Performance of Food and Beverages Industry in Nigeria
Journal Title: International Journal of Business and Management Invention - Year 2017, Vol 6, Issue 9
Abstract
This study examined the effect of audit Committees’ Quality (audit committee members, audit committee meetings and audit committee financial expertise) on financial performance with a focus on the Nigerian food and beverages sector. The population of the study comprises of food and Beverages companies that are listed in the Nigerian Stock Exchange. The study samples were selected usingpurposivesampling method. Data were collected from the Annual report and accounts of the selected companies for a period of ten years (2007- 2016). The study also employed correlation and structural equation modelling for analysing the data. The results revealed a significant positive effect between audit committee meetings, audit committee financial expertise and financial performance. The result of the study also shows a insignificant negative effect betweenaudit committee members and financial performance of the Nigerian food and beverages sector. This study therefore, recommends that the efforts to improve audit committee’s quality performance should focus on the meeting and audit financial expertise of audit committee members and also the audit committee should be made more effective and efficient by ensuring that more members with financial expertise especially accounting expertise be drafted into the audit committee which would enhance financial performance of the firms.
Authors and Affiliations
*Muhammad Shaheer Nuhu1 ,, SuleimanYahaya Umaru 2 ,, Sani Salisu3
Keywords
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