EFFECT OF AUDIT COMMITTEE ATTRIBUTES ON FIRM VALUE OF LISTED INSURANCE COMPANIES IN NIGERIA.

This study examined the effect of audit committee attributes on the firm value of listed insurance companies in Nigeria from 2014 to 2023. The study was motivated by growing concerns over corporate governance quality and its impact on firm performance in the Nigerian insurance sector. Specifically, it investigated the effect of audit committee meeting frequency, size, and financial expertise on firm value. An ex-post facto research design was adopted, using secondary panel data obtained from the annual reports of sixteen (16) listed insurance companies and the Nigerian Exchange Group (NGX) Fact Book. Firm value was measured using Tobin’s Q, while the independent variables comprised audit committee meeting frequency, size, and financial expertise. Data were analyzed using descriptive statistics, correlation, and panel regression techniques with the aid of STATA (v.19). The empirical results revealed that audit committee meeting frequency, size, and financial expertise each exerted a positive and statistically significant effect on firm value. The model explained approximately 48.2% of the variation in firm value, and diagnostic tests confirmed the robustness of the results. These findings suggest that audit committee effectiveness is a crucial determinant of firm valuation and corporate governance quality among listed insurance firms in Nigeria.The study concludes that firms with frequent audit committee meetings, optimal committee size, and members possessing financial expertise tend to achieve higher market valuation through enhanced oversight, transparency, and investor confidence. It recommends that insurance companies strengthen audit committee structures in line with regulatory guidelines, promote financial literacy among members, and hold regular meetings to improve governance outcomes.