AUDIT QUALITY’S INFLUENCE ON THE PERFORMANCE OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA
Abstract
ABSTRACT
The study examined how listed deposit money banks in Nigeria performed financially and how
audit quality affected it. The population of the study comprises of Eleven (11) specified deposit
money banks made up the study's population, and census sampling was used to choose six (6)
banks. Over the course of 5 years, from 2019 to 2023, secondary data were gathered from the
audited annual reports and accounts of Nigeria's listed deposit money banks. For this study, the
ex-post facto (after-the-fact) research design was chosen. Regression analysis was applied to the
data analysis. The findings showed that audit firm size had a positive but insignificant effect on
financial performance, audit tenure had a negative and insignificant effect on the financial
performance of listed deposit money banks in Nigeria, and audit fee had a significant and positive
effect on financial performance as represented by earnings per share. Among other things, it is
advised that deposit money banks avoid using a certain audit firm for an extended length of time,
since this can lower the quality of audit services provided because the audit firm and client become
more acquainted with one another over time.
Keywords: Audit Fees, Audit Tenure, Audit Firm Size, Auditor’s Independence, Financial
Performance, Earnings Per Share
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