Audit Quality And Market Value Of Quoted Nigerian Deposit Money Banks

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Success Jibrin Musa

Abstract

The study examines audit quality and market value of quoted Nigerian deposit money banks. The study specifically evaluated the effect of audit tenure and audit firm size on the market share prices of the quoted deposit money banks in Nigeria. Thus, the empirical model was estimated using panel cross-section random effects and panel least squares techniques. The study spans from 2013 to 2020 for eight (8) out of fourteen (14) quoted deposit money banks in Nigeria. The findings show that audit tenure positively affect market share prices of the deposit money banks in Nigeria while audit firm size has positive relationship with the market share prices but statistically insignificant. Thus, this study among other things, recommends deposit money banks should strength the audit quality by employing auditor rotation engagement principle to avoid personal ties and familiarity that may lead to less vigilance on the part of the auditor.

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