Audit Quality and Financial Performance of Quoted Oil and Gas Marketing Companies in Nigeria.
DOI:
https://doi.org/10.61143/umyu-jafr.4(2)2022.007Keywords:
Audit quality, Audit firm type, Auditor’s tenure, Return on Assets, Financial PerformanceAbstract
This paper examines the impact of audit quality on financial performance of quoted Oil and Gas marketing companies in Nigeria. The population comprises of 11 oil and gas companies quoted on the Nigeria Exchange Group Plc. The paper adopted the longitudinal and ex-post facto research designs. Data were gathered from the published annual reports and accounts of the sampled oil and gas companies. The Multiple regression analysis model using the STATA Version 14.0 was employed in analyzing the data and testing of the stated hypotheses. The results revealed that audit firm type and auditors’ tenure has no significant relationship with the financial performance of the quoted oil and gas marketing companies in Nigeria which is evidenced from a p-value 0.995 and 0.730 respectively. The study therefore recommends that quoted oil and gas marketing companies should ensure that they comply with the regulations as to the tenure of auditors as contained in CAMA 2020.
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