Summary
This session discusses the empirical findings from the research undertaken on corporate governance; IFRS compliance and audit report lag in Nigeria. Different statistical analyses, including descriptive statistics, correlation analysis and panel regression technique were engaged to determine the relationship in question. The findings were organized according to the research questions and hypothesis. These were also considered and analyzed in relation to agency theory adopted.
Hypothesis research question focused on the effect of IFRS compliance in the relationship between corporate governance and audit report lag among listed commercial banks in Nigeria. In testing the hypothesis and providing answers to research question one; the panel regression technique was engaged. The results were presented in Table 4 Based on the findings, the hypothesis that the relationship between corporate governance and audit report lag is not significantly affected by IFRS compliance is rejected while alternative hypothesis is accepted.
The hypothesis and research question two centered on whether or not a significant impact of board size on audit report lag. Using the panel regression technique to test the hypothesis, board size demonstrated an insignificantly negative result with the extent of audit reporting at 5% significant level. Hence, the results reinforced the acceptance of the null hypothesis as against the alternative hypothesis.
Hypothesis and research question three focused on whether or not a significant effect of board independence on audit report lag. The study used panel regression technique to test the hypothesis. The relationship between board independence and audit report lag was insignificantly positive at a significant level of 5%. The null hypothesis that there is no significant effect of board independence on audit report lag is hereby accepted and the alternative hypothesis rejected.
