Determinant of audit fee of quoted firm in the Nigerian Exchange Group (NGX) Department: Accountancy By: AdeleyeJoshua Project ID: 9539 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractLike any other industry, the development of the modern auditing profession is to stimulate the development of the economy and related industries. The study focuses on the determinants of audit fees in quoted firms on the Nigerian Exchange Group. The major objective of the study is to examine the effect of profitability on audit fees in quoted firms in the Nigerian Exchange Group. The design adopted in this study is a survey method, and the methods adopted in gathering data were both primary and secondary methods. The major instrument used to gather data from primary sources is the questionnaire. From a population of one hundred and thirty-three (133), a sample size of one hundred (100) was selected using the Taro Yamane formula. Findings revealed that the determinants of audit fees in quoted Nigerian firms are largely influenced by firm size, profitability, risk exposure, complexity, audit firm brand, and corporate governance structure. These factors either increase the audit effort required or raise the expected audit risk, thus influencing the pricing of audit services. The study concludes that audit determinant attributes include board size, board independence, client firm size, leverage, profitability, and joint audit. In view of these findings, it was recommended that the determinants of audit fees in quoted Nigerian firms are largely influenced by firm size, profitability, risk exposure, complexity, audit firm brand, and corporate governance structure. These factors either increase the audit effort required or raise the expected audit risk, thus influencing the pricing of audit services. Firms should be mandated to disclose their audit fees and the basis of the fees in their financial statements to promote transparency and comparability. Also, audit committees should play an independent and active role in negotiating and approving audit fees, taking into account both cost-efficiency and audit quality. ...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 )»The impact of development finance institutions (DFIS) in economic development of Nigeria»Auditing in Nigeria companies, problems and prospects»Effect of misrepresentation of information in a financial statement»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»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )