Impact of auditor’s autonomy and audit quality on the credibility of financial reporting in Nigeria - case study of listed consumer food companies in Nigeria Department: Accountancy By: Eniolamoses Project ID: 8766 Rating: (3.3) votes: 6Rate this project12345 Price:₦4000 Get the Complete MaterialAbstractThis study investigates the impact of auditor autonomy and audit quality on the credibility of financial reporting in Nigeria, with a specific focus on listed consumer food companies. Utilizing an ex-post facto research design, the study employs secondary data sourced from the annual reports of seven sampled food product companies listed on the Nigerian Stock Exchange. Audit quality is measured using proxies such as Audit Firm Size (AFS), Audit Tenure (AT), and Audit Fee (AFEE), with firm value proxied by share price as the dependent variable, and company age and size as control variables. The findings reveal a negative and insignificant relationship between Audit Firm Size and firm value, suggesting that larger audit firms may not necessarily enhance audit quality due to a higher client base. Audit Tenure also shows a negative and insignificant impact, indicating that longer auditor-client relationships may reduce audit quality. Conversely, Audit Fee exhibits a negative but significant relationship with firm value, implying that higher fees do not consistently improve audit quality. Data analysis was performed using descriptive statistics, correlation, and multiple regression techniques via SPSS version 23, with results indicating that 43.1% of the variation in share price is explained by the independent variables. The study concludes that neither Audit Firm Size nor Audit Tenure significantly affects firm value, while Audit Fee has a notable influence. Recommendations include remunerating auditors based on experience and qualifications, encouraging shorter audit tenures to maintain independence, and advising food product companies to prioritize alternative value-enhancing strategies over relying solely on large audit firms. The research highlights the need for professional bodies like ICAN and ANAN to regulate audit practices effectively to ensure credibility in financial reporting within Nigeria''s consumer food sector. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»Effect of misrepresentation of information in a financial statement»Auditing in Nigeria companies, problems and prospects»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»The effects of computerized accounting system on the performance of banking industry in Nigeria»The impact of development finance institutions (DFIS) in economic development of Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )