SHS Web Conf.
Volume 34, 2017The 17th Annual Conference of the Asian Academic Accounting Association (2016 FourA Conference)
|Number of page(s)||6|
|Section||Auditing and Forensic Accounting|
|Published online||14 February 2017|
Auditor’s Risk Assessment of Independent Directors in Nigeria
Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia
* Corresponding author: firstname.lastname@example.org
The objective of this study is to investigate the external auditor’s risk assessment of independent directors in Nigeria. The study utilized data from 94 non-financial listed companies on the Nigerian Stock Exchange for the periods 2008-2013. The study used cross-sectional time-series feasible generalized least square regression, which account for heteroscedasticity and autocorrelation to test the influence independent non-executive director on auditor pricing decision in Nigeria. Our result indicates that the proportion of independent non-executive director has a positive relationship with audit fees, suggesting that this class of directors is priced high by the Nigerian auditors. These findings have both policy and practical implication on corporate governance. For instance, future regulatory reforms could consider collaborative board model instead of the insistence on more independent director presence in the boardroom.
© The Authors, published by EDP Sciences, 2017
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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