AUDIT COMMITTEE CHARACTERISTICS AND REPORTING TIMELINESS OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

This study examines the effect of audit committee characteristics on the timeliness of
financial reporting in Nigerian deposit money banks. Specifically, it investigates the impact
of audit committee independence, financial expertise, and firm size on reporting timeliness.
The research uses a sample of 13 listed deposit money banks in Nigeria, covering a period
from 2015 to 2024. The study employs multiple regression analysis to test the hypotheses
and provides significant findings between audit committee characteristics and financial
reporting timeliness positively, whereas audit committee financial expertise and firm size
show no significant effect. The findings revealed that independent oversight mechanisms
are crucial for improving the timeliness of financial disclosures, whereas financial
expertise and firm size do not appear to have a direct impact in the Nigerian banking sector.
The study also highlights the importance of other unmeasured factors influencing reporting
timeliness, such as internal processes and external regulatory pressures. The research
contributes to understanding the dynamics of corporate governance in Nigerian banks and
offers policy recommendations to enhance governance mechanisms, including
strengthening audit committee independence and improving managerial efficiency to
facilitate more timely financial reporting.