Department of Accounting

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End date: 2019Subject: search.filters.subject.Nigeria

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    Audit Committee Financial Expertise: Antidote for Financial Reporting Quality in Nigeria?
    (MCSER Publishing, Rome-Italy, 2015-02-02) Ojeka Stephen; Francis Odianonsen Iyoha; Taiwo Asaolu
    Audit committee financial expertise is vital to the quality of financial reporting. This study empirically investigates the impact of audit committee financial expertise on the quality of financial reporting. The financial reporting quality was measured by reliability (total accrual quality) and relevance (audit report lag). Fifteen money deposit banks were selected and data was collected for the period (2003-2012). Analyses were carried out using Correlation, Ordinary Least Square and Panel Lest Square. The study found, after controlling for firm size, audit type, age of firm, audit committee meeting and audit committee size, that, audit committee financial expertise showed a negative coefficient for total accrual quality and audit report lag. This means financial expertise has a positive significant impact on financial reporting quality in Nigeria. The study, therefore, recommends that more attention should be given to the financial expertise of directors being recommended to the audit committee.
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    Curbing Financial Crimes with Anti-Graft Bureaus in Nigeria
    (Journal of Accounting and Management Information Systems (JAMIS), 2015-02-02) Uthman Ahmad Bukola; Oke, Lukman Adebayo; Ajape, Mohammed Kayode; Abdul-Baki, Zayyad; Tijani, Murhtala Oladipupo
    Corruption, be it financial or non-financial is a global cankerworm that has eaten deep into the fabrics of many nations and war against it has been a recurring decimal in every economy. In Nigeria, recent attempts at nipping corruption in the bud gave rise to some anti-graft agencies such as the Economic and Financial Crimes Commission (EFCC). Against this background, opinion of 140 accountants in various capacities was sought on the efficacy of the anti-graft agencies in curbing financial crimes through a survey questionnaire. The study found that respondents group perceived the anti-graft agencies as highly effective but could not establish that accountants in various walks of life differ significantly in their perception of the efficacy of the Nigerian Anti-graft bureaus (Overall Mean= 2.98, F= 2.263 and P>0.05)using ANOVA as statistical analysis tool. It was recommended that Nigerian government should strengthen the Anti-financial crimes agencies given that the influence of highly placed offenders, the dignity, societal bondage and shame inherent in financial crimes may affect the potency of anti financial crimes measures put in place.
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    Bank Capital, Operating Efficiency, and Corporate Performance in Nigeria
    (Acta Univ. Sapientiae, Economics and Business,, 2018-02-02) Abdulai Agbaje Salami; Uthman Ahmad Bukola
    This study examines the impact of bank capital and operating efficiency on the Nigerian deposit money bank financial performance with a view to resolving risk-based and non-risk-based capitals’ dichotomy existing in the bank literature. Using bank-specific data obtained from the annual reports and accounts of 15 banks listed on the Nigerian Stock Exchange between 2012 and 2015, the panel data regression analyses revealed the superiority of standard capital ratio of equity-to-total-assets, a non-risk-based capital, over other measures. While all measures, both risk-based and non-risk-based capitals, showed significantly positive effects on bank performance as measured by return-on-asset, mixed results were obtained from other indicators: return-on-equity and net-interest-margin. Overall, only equity-to-total-assets influenced all adopted performance indicators positively. It was also found that operating efficiency measured by cost-to income ratio had negative impact on bank performance, but on the average it appeared too high. Thus, incorporating the standard capital ratio of equity-to-total assets into regulatory regime by the banks’ regulator is recommended to ensure its relevance is not overshadowed.
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    The role of accounting and accountants in the oil subsidy corruption scandal in Nigeria
    (Elsevier, 2019-02-02) Zayyad, Abdul-Baki; Uthman, Ahmad Bukola; Abubakar, S. Kasum
    Accounting firms have long been profit-orientated ventures, and their pursuit of profits has overshadowed the protection of the public interest they avow. This study investigates how corruption, as an institutionalized practice in Nigeria, has led two accounting firms to support and engage in corruption rather than guard against it in an oil subsidy corruption scandal in Nigeria. Adopting Dillard, Rigsby, and Goodman’s (2004) model of institutional theory, the study argues that the institutionalization of corruption, through its pervasiveness at the social, economic and political level, is a premise for its institutionalization at the organizational field level (the oil subsidy scheme). Because the two accounting firms were both involved in the operation of the oil subsidy scheme, their practices were essentially forced to conform to the institutionalized practice—corruption—as opposed to the protection of the public interest.