Analysis of the Determinants of Audit Timeliness: a Study of Consumer Goods Firms in Nigeria
Year: 2026
Type: article
Abstract: The study evaluates the determinants of audit timeliness among consumer goods firms listed on the Nigerian Exchange Group (NGX) from 2012 to 2024. Using a panel dataset of 169 firm-year observations drawn from 13 listed consumer goods firms, specifically, the study examines how firm size (Fsize), profitability (Prof), financial leverage (Lev), board independence (Bind), and audit firm size (Audsize) influence audit timeliness (Audtim). Measured as the number of days from fiscal year-end to the audit report date. Prior to regression analysis, the study conducts normality test (Sharpiro-Wilk and Jarque-Bera), heteroskedasticity diagnostic (Breusch-Pegan and White tests), and Hausman test result (Chi-squared =34.25, p = 0.000) strongly supports the Fixed Effect (FE) model. The FE regression result reveal that audit firm size (Audsize) exerts a significant positive effect on audit timeliness (p=0.000), while board independence (Bind) approaches significance at the 10% level (p =0.096). Firm size, profitability, and leverage do not significantly influence audit timeliness within the within-firm variation framework. The study recommends strengthened regulatory enforcement of reporting deadlines, improved firm-level reporting infrastructure, and structured audit engagement timelines between Big 4 firms and their Nigerian consumer goods clients.
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7204192633
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