EFFECT OF AUDIT QUALITY ON FINANCIAL PERFORMANCE OF QUOTED FOOD AND BEVERAGE COMPANIES IN NIGERIA (A STUDY OF NIGERIA BREWERIES PLC, 2017-2022)
Abstract
This study looks at how audit quality affects the financial results of Nigerian food
and beverage firms that are publicly traded, with a particular emphasis on Nigeria
Breweries PLC. It highlights how the net profit margin is impacted by the
independence, size, and compensation of auditors. Empirical research, conceptual
and theoretical frameworks, and an overview of linked studies form the framework
of the literature review. The study uses multiple regression analysis with e-view
Version 8 to examine secondary data from Nigeria Breweries' financial statements
and annual reports over a six-year period from 2017 to 2022 using an ex-post
facto methodology. The p-value of 0.32, which is higher than the crucial value of
0.05, indicates that the financial performance of these firms is not substantially
impacted by the independence, size, or compensation of the auditors. In order to
increase audit quality, improve earnings quality, and decrease earnings
management, the research advises Nigerian food and beverage industries to work
with one of the leading audit firms.
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