Template-Type: ReDIF-Article 1.0
Author-Name: Ifunanya, Nwosu Lilian
Author-Name-First: Nwosu Lilian
Author-Name-Last: Ifunanya
Author-Email: 23012064@nwu.ac.za
Author-Workplace-Name: North-West University, School of Accounting Science, South Africa
Author-Name: Ogundele, Omobolade Stephen
Author-Name-First: Omobolade Stephen
Author-Name-Last: Ogundele
Author-Email: omoboladeo@uj.ac.za
Author-Workplace-Name: Department of Commercial Accounting, College of Business and Economics, University of Johannesburg, Johannesburg, South Africa
Author-Name: Mahlaule, Calvin
Author-Name-First: Calvin
Author-Name-Last: Mahlaule
Author-Email: omoboladeo@uj.ac.za
Author-Workplace-Name: North-West University, School of Accounting Science, South Africa
Title: Audit Fee Determinants: The Influence of Corporate Governance Mechanisms in Nigerian Banking Industry
Abstract: This study examined the influence of corporate governance on audit fees of the Deposit Money Banks (DMBs) in Nigeria by exploring secondary data. The study population comprised 13 DMBs in Nigeria, of which 12 were purposively selected based on data availability. Data were sourced from the annual reports and accounts of 12 listed DMBs in Nigeria spanning from 2012 to 2023. This study explored multiple regression analysis by using dependent variables (Audit Fees), independent variables (Board Meetings, Board Size, Board Independence, Board female Gender Diversity, CEO Ownership & Female Audit Committee), and control variables (Return on Asset, Firm Size, Asset Growth & Leverage). The findings indicated that Board female Gender Diversity, Female Audit Committee, Firm Size & Asset Growth had positive and significant effects on audit fees, while (Return on Asset & Leverage) had negative and significant effect on audit fees. The result concluded that corporate governance influences the audit fees of DBMs in Nigeria. Given the financial scandals and regulatory reform that is prevalent in the Nigerian banking sector. This study contributes to the literature by providing empirical evidence on how corporate governance affects audit fees within the Nigerian banking sector, reinforcing the need for effective governance policies.
Keywords: Audit Fees, Agency Theory, Corporate Governance, Deposit Money Banks
Journal: International Review of Management and Marketing
Pages: 238-245
Volume: 16
Issue: 1
Year: 2025
Month: 11
DOI: 10.32479/irmm.21406
File-URL: https://econjournals.com/index.php/irmm/article/download/21406/9520
File-Format: application/pdf
Handle: RePEc:eco:journ3:v:16:y:2025:i:1:id:21406