Firm Attributes and Audit Report Lag in Listed Insurance Companies in Nigeria

Abstract

This paper presented empirical findings on the effect of audit firm type, leverage and firm size on audit report lag of listed insurance companies in Nigeria. The study sampled seventeen listed insurance companies. Data were extracted from the annual reports and accounts of the sampled companies for the period 2011 to 2020. The study made used of multiple regression analysis as an estimation technique to analyze the data. The study found that audit firm type has significant positive relationship with audit report lag while leverage and firm size have negative and significant relationship with audit report lag. Based on the findings, it is recommended, among others, that the Big-4 audit firms in Nigeria should adopt measures to reduce as much as possible the number of days it takes in completing audit so as to make timely audit report to stakeholders.