EFFECT OF AUDIT QUALITY ON FINANCIAL PERFORMANCE OF QUOTED FOOD AND BEVERAGE COMPANIES IN NIGERIA (A STUDY OF NESTLE NIGERIA PLC)
Abstract
The research work is centred on “Effect of audit quality on financial performance of
firms in Nigeria (A Study of Nestle Nigeria Plc)” highlighted influence of auditors’
independence, auditor size and auditor remuneration on net profit margin. The reviews of
related literature were discussed under the following sub-headings conceptual
framework, theoretical framework, empirical studies and summary of related literature.
The ex-post facto research was adopted to analyze secondary data obtained from
financial statement and annual report of Nestle Nigeria Plc. The sample size covered a
period of ten (10) years from 2014-2023. Ordinary Least Squares (OLS) technique of
Regression Analysis was employed in the study using the e-view Version 10. The study
revealed that: auditors independence, auditors size and auditors remuneration have no
significant impacted on the financial performance of quoted food and beverage
companies in Nigeria since p-values 0.7833, 0.1652 and 0.1652 is greater than critical
value 0.05. The study concludes that audit quality has no significant effect on financial
performance of quoted firms in Nigeria. The study therefore recommended that quoted
goods and beverage companies in Nigerian should ensure that their boards are
independent as this is to enhance audit quality
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