Audit Firm Attributes and Audit Report Timeliness of Quoted Oil and Gas Companies in Nigeria

  • Felix Osayabor EMOVON
  • Prince Famous IZEDONMI
Keywords: Audit Fee, Audit Firm Size, Audit Report Timeliness, Nigerian Exchange Group (NEG) and Financial Report.


The study explores audit firm attributes and audit report timeliness of quoted oil and gas companies in Nigeria. The timely issuance of audit reports is observed to have an impact on the stock prices of listed companies. The importance of ensuring accurate and dependable financial reporting has gained prominence, prompted by the collapses of companies like Enron, WorldCom, Cadbury PLC, and other notable entities. Despite regulatory and stakeholder efforts to enhance financial reporting quality, instances of corporate financial misconduct persist in Nigeria and globally. The study employed an ex-post facto research design and utilized a secondary method of data collection. Data were sourced from the annual reports and accounts of seven selected quoted oil and gas companies on the Nigerian Exchange Group (NEG) through purposive sampling. The study spans from 2012 to 2021. Both descriptive and inferential statistics were applied in data analysis, with panel regression analysis employed for hypothesis testing. The findings reveal that audit fees exhibit a negative and insignificant impact on audit report timeliness, while the size of the audit firm demonstrates a positive and significant effect on the timeliness of audit reports. Consequently, the study suggests that the size of the audit firm should be a key consideration in the appointment of auditors. It is recommended that firms take into account the size of the audit firm when appointing auditors.


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