| 1 |
Author(s):
Anderson Emmanuel Oriakpono (Ph.D.), Jemila Alfa Mohammed (Ph.D.), Joseph Femi Adebisi (Prof.).
Page No : 1-13
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Effect of Audit Committee Efficiency on Market Value of Listed Oil and Gas Companies in Nigeria.
Abstract
This study examines the impact of audit committee efficiency on the market value of listed oil and gas firms in Nigeria over the period 2016–2025. Adopting an ex-post facto research design, the study utilizes secondary data extracted from the published annual reports of selected firms quoted on the Nigerian Exchange Limited. Audit committee efficiency is proxied by audit committee size, audit committee independence, audit committee diversity, and audit committee diligence, while firm market value is measured using market-based valuation indicators. Descriptive statistics, panel unit root tests (Levin–Lin–Chu), Hausman specification tests, and Panel Pooled Ordinary Least Squares (OLS) regression were employed for data analysis using EViews (Version 10). The empirical results reveal that audit committee size, independence, diversity, and diligence exert positive and statistically significant effects on firm market value. The diagnostic tests confirm the absence of multicollinearity and autocorrelation, while the overall model demonstrates strong explanatory power. The findings suggest that effective audit committee structures enhance investor confidence, reduce agency costs, and strengthen corporate valuation performance. The study concludes that audit committee efficiency remains a critical corporate governance mechanism for improving firm value in Nigeria’s oil and gas sector. It therefore recommends stricter regulatory enforcement, enhanced governance transparency, and continuous capacity development to sustain valuation gains associated with audit committee effectiveness.
| 2 |
Author(s):
Mbu-Ogar Geraldine Banku (Ph.D.), Nkiri Joseph Enyam (Ph.D.), Eyo Rose Emmanuel.
Page No : 14-25
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Effect of Budgetary Planning and Control on the Profitability of Manufacturing Companies: A Study of Flour Mills Nigeria Plc.
Abstract
The study examined the impact of budgetary, planning and control on the profitability of manufacturing companies: A study of flour mills Nigeria plc. Budgetary, planning and control remains indispensable and pivotal in any organizational setting be it profit making or not. Resources are often scarce and limited with an array of needs and expenditures to be met. Budgetary planning and control ensures efficiency in the utilization of resources through methods and techniques of cost management that includes budget creation, assigning responsibilities to units/ departments, comparing actual performance to the budget, and acting on the results to maximize profit. Financial controls on the other hand are procedures, processes and policies by which organizations monitors and control the direction, allocation and usage of its financial resources optimally. The study adopted the quantitative research design, data were collected from both primary and secondary sources and analysed using the simple regression and descriptive statistical technique. The study result revealed that budgetary control and financial controls have significant and positive effect on return on assets of Flour Mills Nigeria Plc. The study recommended that firm’s strategies to attain budget targets should be dynamic and realistic, budget targets should always align with companies objectives as well as revenue estimates. Management should strive to constantly review existing standards and introduce measures that strengthens the internal control system to prevent inadvertent override of controls.
| 3 |
Author(s):
Evans O. N. D. Ocansey (Ph.D.).
Page No : 26-44
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Professional Judgment as a Behavioral Driver of Auditor Performance: Evidence from an Emerging Economy.
Abstract
This paper examines whether professional judgment functions as a central behavioral determinant of auditor performance. Specifically, it investigates the extent to which structured judgment processes and judgment bias management influence auditor performance within an emerging economy context. A cross-sectional survey design was employed using data collected from 285 audit managers across licensed audit firms in Ghana. Professional judgment was conceptualised as a multidimensional construct comprising structured judgment processes and judgment bias management. Data were analysed using correlation, regression and group difference (ANOVA) techniques. Robustness checks were conducted to address measurement validity, common method bias and model stability. The results reveal a strong and statistically significant positive relationship between professional judgment and auditor performance. Professional judgment explains a substantial proportion of variance in performance outcomes and remains robust after controlling for firm size. Both structured judgment processes and bias management independently contribute to performance. Additionally, significant differences in auditor performance are observed across firm size categories, with larger firms reporting higher performance levels. The findings suggest that strengthening professional judgment capabilities through structured methodologies, bias-awareness training and enhanced review mechanisms may significantly improve audit performance. Regulators and professional bodies should emphasise judgment-intensive areas in inspection and continuing professional development programmes. This study advances behavioral auditing research by conceptualising professional judgment as a multidimensional construct and empirically demonstrating its explanatory power for auditor performance in a Sub-Saharan African context, and contextually enriched account of how professional judgment shapes audit effectiveness.
| 4 |
Author(s):
Evans O. N. D. Ocansey (Ph.D.), Simon Komla Mawulolo Nayo.
Page No : 45-63
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Digital Forensics in Auditing: A Review of Ghana’s Public Sector.
Abstract
Auditing in the public sector remains vital for accountability, transparency, financial integrity and economic growth. However, Ghana still faces challenges like procurement irregularities, fund misappropriation, cyber fraud, and weak enforcement of audit recommendations. Traditional audit methods are mainly manual reviews, retrospective reconciliations, and sampling hence are becoming less effective against complex financial crimes and digital fraud. This study conducts a systematic literature review of over 80 scholarly articles, institutional reports, and policy documents from 2015 to 2025. It also explores how digital forensics can improve public sector auditing in Ghana. Using global and African experiences, the review emphasizes the transformative role of technologies such as big data analytics, artificial intelligence, blockchain, and robotic process automation in detecting fraud, protecting public resources, and building trust. Findings show that while digital forensics offers a proactive, evidence-based way to detect fraud and promote accountability, Ghana faces systemic barriers- including limited technical expertise, weak legal frameworks, institutional resistance, and high implementation costs. The study recommends strategies for capacity building, technology investment, legal reforms, and cultural change in public institutions. Integrating digital forensics into Ghana’s audit system could reduce revenue losses, promote fiscal sustainability, and position Ghana as a regional leader in digital public accountability.
| 5 |
Author(s):
Arama Davies Gyandi.
Page No : 64-76
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Effect of Accounting Information Systems Application on Audit Efficiency of Listed Deposit Money Banks in Nigeria.
Abstract
This study examines the effect of Accounting Information Systems (AIS) application on audit efficiency in listed Deposit Money Banks in Nigeria. Adopting a quantitative cross-sectional research design, the study utilizes data derived from the banking sector, focusing on key AIS components including system integration capability, real-time data accessibility, internal control features, audit trail completeness, and error detection and correction mechanisms. Analytical techniques such as descriptive statistics and inferential methods are employed to evaluate the relationships between AIS application and audit efficiency. The findings reveal that AIS components significantly influence audit efficiency by enhancing the timeliness, accuracy, and reliability of audit processes. Specifically, system integration and real-time data accessibility improve information availability, while internal controls and audit trails strengthen transparency and accountability. Error detection mechanisms further contribute to reducing audit risks and improving overall audit outcomes. The study concludes that effective deployment of AIS is critical to improving audit efficiency in Nigeria’s banking sector. It recommends increased investment in AIS infrastructure, continuous staff training, and strengthened regulatory support to optimize audit performance and ensure alignment with global best practices.
