Reliability of the audit committee in weak institutional environments: Evidence from Nigeria

IF 3.3 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation Pub Date : 2024-10-28 DOI:10.1016/j.intaccaudtax.2024.100657

Folajimi Ashiru , Emmanuel Adegbite , Jane Frecknall-Hughes , Olabisi Daodu

引用次数: 0

Abstract

Relying on institutional theory, this article presents external stakeholders’ perspectives on the factors that influence audit committees’ independence and reliability in a weak institutional context. We conducted 37 semi-structured interviews with two critical external stakeholder groups (27 experienced professional investors and 10 senior regulatory officials) in the Nigerian banking sector. Our study finds that the independence of audit committee members, being an ‘a posteriori’ rather than an ‘a priori’ accountability verification, bears institutional contextual bias. Consequently, we unpack five factors, namely allegiance to the dominant owner, poor professional conduct, corruption, nepotism and opportunism, and impunity, that influence external stakeholders’ perception of the reliability of the audit committee’s independence in Nigeria.

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薄弱制度环境下审计委员会的可靠性：尼日利亚的证据

本文以制度理论为基础，介绍了外部利益相关者对薄弱制度背景下影响审计委员会独立性和可靠性的因素的看法。我们对尼日利亚银行业的两个重要外部利益相关者群体（27 位经验丰富的专业投资者和 10 位高级监管官员）进行了 37 次半结构化访谈。我们的研究发现，审计委员会成员的独立性是一种 "事后 "而非 "事前 "的问责验证，带有制度背景的偏差。因此，我们揭示了影响外部利益相关者对尼日利亚审计委员会独立性可靠性看法的五个因素，即效忠于占主导地位的所有者、不良职业操守、腐败、裙带关系和机会主义以及有罪不罚。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of International Accounting Auditing and Taxation BUSINESS, FINANCE-

CiteScore

4.50

自引率

3.80%

发文量

期刊介绍： The Journal of International Accounting, Auditing and Taxation publishes articles which deal with most areas of international accounting including auditing, taxation and management accounting. The journal''s goal is to bridge the gap between academic researchers and practitioners by publishing papers that are relevant to the development of the field of accounting. Submissions are expected to make a contribution to the accounting literature, including as appropriate the international accounting literature typically found in JIAAT and other primary US-based international accounting journals as well as in leading European accounting journals. Applied research findings, critiques of current accounting practices and the measurement of their effects on business decisions, general purpose solutions to problems through models, and essays on world affairs which affect accounting practice are all within the scope of the journal.