IMPACT OF AUDIT QUALITY ON FINANCIAL PERFORMANCE IN NIGERIAN INSURANCE INDUSTRY

Abstract

ABSTRACT

This study examines the impact of audit quality on financial performance in the Nigerian insurance industry. The study employs an ex-post facto research design. The population of the study is the entire companies in the Nigerian insurance industry from 2019- 2023, totaling sixty-seven (67).  A sample size of twenty (20) companies was drawn out of the larger population using the judgmental sampling technique. Data were sourced from a secondary source. The method of analysis employed was regression analysis. The study finds that audit quality has a positive and significant effect on the financial performance of Nigerian insurance companies. Therefore, the study recommends that   Nigerian insurance companies should make use of the services of audit firms that have high audit quality records, whose character and integrity are beyond question. This is an added advantage for the management and the shareholders of Nigerian insurance companies because they can rest assured, their interests will be duly protected.