Audit Committee Attributes and Firm Revenue Growth in the Nigerian Banking Industry
This study investigated whether certain audit committee attributes (audit committee size and audit committee financial expertise) affect firm revenue growth of deposit money banks in Nigeria. Data were obtained from the annual reports and accounts of thirteen (13) deposit money banks listed on the floor of the Nigerian Exchange Group from 2010-2019. Data obtained were analyzed by means of descriptive (mean, median, skewness, kurtosis, standard deviation, minimum and maximum values, and the Karl Pearson correlation) and inferential (regression) statistical tools.
The regression result showed that audit committee attributes are statistically insignificant in affecting firm revenue growth; however, the relationship between audit committee size and firm revenue growth is positive while that of audit committee financial expertise is negative. On the basis of the findings, it was recommended that audit committee size should be increased and the members should be reoriented on the need to ensure significant effect on firm revenue growth. Again, audit committee financial expertise should be enhanced in order to promote firm revenue growth.
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