INTERNAL AUDIT FUNCTION AND THE QUALITY OF FINANCIAL REPORTING IN NIGERIA

ABSTRACT This research project focuses on deposit money banks in Nigeria. The population of the study was made up of 42 which gave a sample size of 38. Questionnaires were distributed personally to the respondents. The objectives of the study is to ascertain the effect of the internal audit function of the quality of financial reporting on deposit money banks in Nigeria, to examined whether the audit firm size has effect on the quality of financial reporting on deposit money banks, to determine whether the audit tenure has effect on financial reporting quality deposit money banks. In the research methodology, the researcher used questionnaires for data collection, the data collected were analyzed and computed using statistical package for social sciences. Conclusively, the study found out that only audit fees have a significant positive effect on the quality of financial reporting on deposit money banks in Nigeria. The study recommended that audit firm, reasonable audit tenure and audit fees should be encouraged to improve financial reporting quality.