ATTRIBUTES OF AUDIT COMMITTEE AND TIMELINESS OF FINANCIAL REPORTING IN NIGERIAN COMPANIES: AN EMPIRICAL EVIDENCE

Abstract

The study x-rays the impact of gender of audit committee and frequency of meetings of audit committee on timeliness of financial reporting in Nigeria. The study used balanced panel data gathered from sixty two quoted companies for the period 2009- 2014. The study conducted descriptive statistics and correlation matrix and the analysis was done using panel data. The study reveals that gender and frequency of meetings of audit committee have insignificant
negative impacts on timeliness of financial reporting. This implies that more female members in the audit committee and more meetings held among audit committee members will likely reduce the delay associated with financial reporting. The study recommends that to reduce the delay associated with financial reporting; gender and frequency of meetings of audit committee should be strengthened in companies by incorporating more female members into the committee and advocating the need for frequent meetings and ensuring that members are encouraged to attend such meetings.