Muyiwa DAGUNDURO | Afe Babalola University, Ado-Ekiti (original) (raw)
Papers by Muyiwa DAGUNDURO
Economy, Business & Development , 2024
In an era characterized by growing globalization and increased fiscal oversight, tax compliance h... more In an era characterized by growing globalization and increased fiscal oversight, tax compliance has become a significant concern for governments, businesses, and individuals globally. This study seeks to examine the impact of digital tax administration on tax compliance within the informal sector in the Southwest states of Nigeria. The study employed a survey research design to collect primary data using informal sector in the Southwest states of Nigeria. Therefore, this study suggested that the Government and relevant agencies should invest in training programs aimed at improving the technical know-how of individuals and businesses in the informal sector.
AI has gained significant traction as an innovative tool for automating tasks, enhancing data ana... more AI has gained significant traction as an innovative tool for automating tasks, enhancing data analytics, and reducing the risk of errors in auditing processes. This study investigated the impact of adopting artificial intelligence (AI) on the quality of audit practice in Nigeria, focusing on data mining, machine learning, and image recognition as proxies for the independent variable. Population was 251 accounting firms in southwest Nigeria, with a sample size of 159, purposively determined. The study utilized structured questionnaires for data collection, with regression analysis, and correlation matrices adopted for the analysis. The findings revealed a significant positive relationship between data mining and image recognition with the quality of audit practice in Nigeria. Machine learning, however, showed an insignificant negative relationship. This suggests that AI, particularly data mining and image recognition, can enhance audit quality in Nigeria. As a result, the study recommended that Nigerian audit professionals and firms should consider incorporating data mining techniques into their audit processes to improve effectiveness and error detection.
There has been a misconception among certain stakeholders regarding the principal responsibility ... more There has been a misconception among certain stakeholders regarding the principal responsibility of auditors concerning financial statements. This misconception revolves around the belief that statutory auditors bear the responsibility for detecting fraud and errors within an organization, aligning with the concept known as the "policeman's theory." This research aimed to investigate the impact of the policeman's theory on contemporary auditing practices in Nigeria. The study employed a combination of primary data collection through structured questionnaires and secondary data from extant literature. Findings revealed that the roles and responsibilities of external auditors have undergone significant evolution over the years, among others. As a result of these findings, it is recommended that statutory auditors should prioritize the implementation of robust quality control measures in their audit engagements.
International journal of business and management review, Nov 14, 2023
The digital transformation sweeping across industries in recent years has had a significant influ... more The digital transformation sweeping across industries in recent years has had a significant influence on the field of accounting. This study specifically aimed to assess the impact of blockchain technology on the effectiveness of accounting practices in Nigeria. This study used a qualitative approach and the study's primary data came from the distribution of a structured questionnaire to the targeted respondents, which comprised accountants, finance analysts, and blockchain experts. The total population was 178 registered accounting firms in Nigeria as of 31 st December 2022. A purposive sampling technique was used to select 123 firms from which 3 questionnaires were distributed to each of the firms selected, totaling 369, which served as the sample size. Data were analyzed through descriptive statistics and inferential statistics. The overall results found that blockchain technology had a significant positive effect on the efficacy of accounting practice in Nigeria. Thus, this study recommends that accounting firms in Nigeria should consider investing in blockchain technology to improve data security, transparency, and efficiency.
Sustainability has become a crucial aspect of modern business, extending beyond corporate social ... more Sustainability has become a crucial aspect of modern business, extending beyond corporate social responsibility to form an integral part of organizational strategies. This study investigated how sustainable business practices impact the going concern of listed manufacturing companies in Nigeria, focusing on stakeholder inclusiveness, dynamic workplace, and community engagement. The research used an ex-post facto research design, analyzing data from 60 consumer and industrial goods manufacturing companies listed on the Nigerian exchange group as of December 31, 2021. The findings indicated that stakeholder inclusiveness, a dynamic workplace, and community engagement positively and significantly influence the net asset per share of these listed manufacturing companies. In other words, incorporating sustainable business practices can enhance the companies' long-term financial stability and operational continuity. In conclusion, this study emphasizes the potential of sustainable business practices to shape the going concern status of listed manufacturing companies in Nigeria when effectively implemented. It suggests that manufacturing companies should develop and implement a well-balanced sustainability strategy that integrates community engagement, shareholder inclusiveness, and the creation of dynamic workplaces with their core business objectives.
Journal of Business and African Economy, 2024
Globally the high incidence of mismanagement of government resources has hindered development. Th... more Globally the high incidence of mismanagement of government resources has hindered development. The mismanagement affects all citizens, leading to issues such as non-execution of budgeted contracts, contract inflation, deteriorated infrastructure due to budget misappropriation, understating of revenue, policy inconsistency, disregard for laws and orders, high crime and mortality rates, overpopulation, and unemployment. This study aimed to evaluate the effect of value-for-money audits on the performance of the public sector in Nigeria. This study employed a qualitative research approach through the distribution of well-structured questionnaires The targeted respondents were officers of MDA (Ministry, Department, and Agencies) in Nigeria. The population of the study consists of 1,316 MDA (Ministry, Departments, and Agencies). The study adopted Slovin's formula to arrive at a sample size of 307, from which a total of 259 responses were returned filled. Data collected from the primary sources were analysed using both descriptive statistics and regression analysis. This study showed that value for money audit (internal control quality, internal control implementation, and internal control process) had a statistically significant positive effect on public sector performance (financial accountability). This study concluded that the implementation of effective internal control measures can bolster financial accountability and contribute to more sustainable and responsible public sector performance. This study recommends that governmental agencies should focus on enhancing the quality of their internal controls. This includes establishing robust systems, processes, and procedures that safeguard funds, prevent mismanagement, and ensure transparency in financial transactions.
Journal of Multiperspectives on Accounting Literature, 2024
This study examines the effect of sustainability reporting on the market performance of listed in... more This study examines the effect of sustainability reporting on the market performance of listed insurance firms in Nigeria. Methodology/approach: The study employed an ex-post facto research methodology, using pre-existing, unaltered data from 22 listed Nigerian insurance companies, conducted from 2013 to 2023. Panel regression analysis and the FGLS regression model were used to investigate the relationship between the variables.
International Journal of Economics and Financial Management , 2024
In the dynamic landscape of contemporary business environments, organizations encounter an array ... more In the dynamic landscape of contemporary business environments, organizations encounter an array of challenges, among which risk management and uncertainty stand as formidable adversaries. The intricate interplay of global markets, technological advancements, and sociopolitical shifts has accentuated the need for a nuanced understanding and effective management of risks. This study seeks to unravel the dynamics of risk management and uncertainty, examining its sources, impact on organizational performance, and strategies for fostering resilience in the face of unpredictable scenarios. This study utilized an exploratory research design, and data were collected from secondary sources through a thorough review of relevant existing literature. The results underscored the complex interaction between risk management practices and uncertainty concerning organizational performance. The findings showed that organizations exhibiting effective and robust risk management practices, coupled with managing uncertainty adeptly, tended to achieve superior performance. In conclusion, the study emphasizes the importance of an integrated approach to risk management and uncertainty for organizational success. Based on the findings, it is recommended that organizations should adopt integrated risk management strategies that consider both internal and external uncertainties to enhance overall effectiveness.
Journal of Business and African Economy, 2024
This paper investigates the effect of risk assessment procedures in audit reporting quality in li... more This paper investigates the effect of risk assessment procedures in audit reporting quality in listed deposit money banks in Nigeria. This is done from the fact that the banks in Nigeria despite their banking regulation, there is no consensus on the impact of risk assessment procedure in the banking sector. The population for the study comprises of 10 listed commercial banks in the Nigerian Exchange group. A simple random sampling technique was used, and data were obtained from the audited annual financial reports of the firms for a period of 2010-2021. Panel least square (PLS) was used to analyze the collected data. The study found out that risk assessment has negative and significance influence in the audit reporting quality. The implication of the findings is that management of financial risk in the banking sector is deficient, and it has a negative consequence on the quality of the report released to the investors for the assessment of the company's performance. The study therefore concludes that risk assessment procedures are a significant underlying factor that can negatively influence the quality of audit reporting in the banking sector.
Journal of Business and African Economy, 2024
Over the years, Policeman Theory has undergone dynamic transformations, responding to the ever-ch... more Over the years, Policeman Theory has undergone dynamic transformations, responding to the ever-changing complexities of business environments, regulatory landscapes, and societal expectations. As auditors play a crucial role in ensuring transparency, accountability, and the reliability of financial information, understanding the nuances of the Policeman Theory becomes imperative for both scholars and practitioners. This study embarks on a comprehensive review of the past and present dimensions of the Policeman Theory, shedding light on its origins, evolution, and contemporary relevance. This study utilized an exploratory research design, and data were collected from secondary sources through a thorough review of relevant existing literature. The findings underscore the relevance of the Policeman Theory, emphasizing auditors' role as vigilant overseers in detecting and deterring financial irregularities and fraud. The study reinforces the importance of auditors acting as proactive guardians against financial improprieties, resonating with the call for innovative approaches such as the integration of forensic accounting practices. Independence, highlighted as a cornerstone, aligns with the principles of the Policeman Theory, emphasizing the role of auditors as independent evaluators safeguarding against financial misconduct. Based on the findings, it is recommended that auditors embrace continuous learning and adaptation to stay abreast of technological advancements. The integration of forensic accounting practices should be explored as a proactive strategy to address the inadequacies of traditional audit reports and enhance fraud detection capabilities.
Journal Of Accounting And Finance Management, Dec 27, 2023
The study intends to shed light on how adherence to international public sector accounting standa... more The study intends to shed light on how adherence to international public sector accounting standards (IPSAS) 23 can enhance the efficient utilization of tax revenues in Ekiti State. In this study, a survey design was employed. Questionnaires were distributed directly to the specified participants, who were the Revenue Officers of Ekiti State Internal Revenue Service (EKSIRS). The entire population comprised 428 revenue officers, and we chose to use a census sampling method, which encompasses the entire population at 100%. Out of all the questionnaires distributed, 311 were returned with completed responses. The collected data was subsequently analyzed using both descriptive and inferential statistical techniques. The results analysis found that the collective impact of IPSAS 23 regulations, including revenue recognition, revenue presentation and disclosure, and revenue measurement, is a reliable predictor of tax revenue redemption by the Ekiti State Government. In essence, the implementation of these IPSAS 23 regulations significantly contributes to the redemption of tax revenues, signifying their importance in enhancing financial transparency and efficiency within the government's fiscal operations. It was concluded that revenue recognition emerges as a prominent contributor to tax revenue redemption, emphasizing the importance of accurate revenue recognition. This study then recommends that the Ekiti State Government should prioritize enhancing revenue recognition practices. This can be achieved through training and capacity-building for relevant staff to ensure accurate and timely recognition of revenue.
Journal Of Accounting And Finance Management, Jan 2, 2024
The goal of this study was to uncover the significant impact of government accounting officers&am... more The goal of this study was to uncover the significant impact of government accounting officers' roles on achieving sustainable revenue budgets and to comprehensively investigate how these officers' responsibilities affect the realization of such budgets in Ekiti State. In this research, a survey design was utilized. Data were collected directly from the source by distributing questionnaires to the designated participants, who were the Accounting Officers of the Ekiti State Government. The entire population consisted of 374 accounting officers, and we opted for a census sampling approach, which covers the entire population at 100%. Out of the total questionnaires distributed, 269 were returned with responses. The data collected was subsequently analyzed employing both descriptive and inferential statistical methods. The study found that the roles of accounting officers, specifically pertaining to expenditure control, internal control, and revenue management, have a positive and statistically significant impact on the attainment of a sustainable revenue budget within the Ekiti State Government. It is therefore concluded that when the government exercises strong control over its expenses, it is more likely to achieve its goal of sustaining a balanced and stable budget for the long term. This study recommends that government authorities should recognize the crucial role of accounting officers in achieving fiscal sustainability and provide the necessary support and resources to enable them to fulfill their responsibilities effectively.
Economy, Business & Development, May 31, 2024
Journal of Economics, Finance and Accounting Studies
The performance and growth of business enterprises, especially small and medium enterprises (SMEs... more The performance and growth of business enterprises, especially small and medium enterprises (SMEs), have been hindered by a multiplicity of taxes causing the untimely liquidation of most businesses. In this regard, this study examined the effect of multiple taxations on the financial performance of SMEs in Ekiti State, Nigeria. The study used a survey research method and analyzed it with correlation coupled with multiple regression analysis. The population comprises all registered and functional SMEs located in Ado Ekiti, Nigeria, and have been in existence for over 5 years with valid proof of tax payment. The results found that multiple tax burdens and multiple tax administrations exhibited a significant negative relationship with the financial performance of SMEs in Ekiti State, Nigeria, while the ability to pay tax revealed a significant positive relationship. From the aforementioned results, it was concluded that multiple taxes served as a worm that deeply reduced the investment...
European Journal of Business and Management
This study examined the effect of tax incentives on liquidity performance of quoted manufacturing... more This study examined the effect of tax incentives on liquidity performance of quoted manufacturing firms in Nigeria Exchange Group. Expo-facto research design was adopted in the study. The population of the study comprised of 18 industrial goods firms listed in Nigeria Exchange Group from 2012 to 2021. The sample size of 10 firms was selected using purposive sampling technique. Data was obtained from secondary sources through the published financial statements of the companies. Data were analyzed through descriptive and inferential statistics. The result from the analysis of data revealed that tax savings had a significant and positive effect on liquidity performance of companies. The findings also from the study revealed that tax holyday has a negative and insignificant effect on companies' liquidity performance. The study concluded that liquidity performance of quoted manufacturing firms improves at the instant of tax savings. It was therefore recommended that Nigerian government should provide adequate tax incentives for manufacturers in Nigeria in order to achieve the growth of infant manufacturing industries.
Journal of Accounting and Management, 2024
Market value, a key indicator of investor confidence, reflects not only the financial performance... more Market value, a key indicator of investor confidence, reflects not only the financial performance but also the broader sentiment within the financial market. By examining how forensic accounting techniques influence market value, this study aims to unravel the nuanced impact of these practices on the banking industry's standing and investor perceptions. Data were sourced from annual records of deposit money banks listed on the Nigerian Exchange Group (NGX). The study focused on a population of ten (10) selected deposit money banks listed on NGX and they were selected due to the availability of data at the time conducting this study. The study employed a census sampling technique and the total population was investigated. The collected data in this study underwent analysis using both descriptive and inferential statistical methods. This study revealed that forensic accounting techniques exhibit a positive and significant effect on the market value of deposit money banks in Nigeria. This implies that the application of forensic methods holds meaningful influence, garnering positive responses from investors and the market at large. It was concluded that the positive and significant impact of forensic accounting techniques underscores their meaningful influence on market value, emphasizing their importance in financial practices. This study therefore recommends that banks should consider investing in forensic accounting techniques to bolster their financial practices and enhance market value.
Economy, Business & Development, 2024
In the dynamic landscape of corporate reporting and stakeholder engagement, the significance of n... more In the dynamic landscape of corporate reporting and stakeholder engagement, the significance of nonfinancial disclosure has gained considerable prominence. As businesses strive for sustainable growth and investors increasingly recognize the value of environmental, social, and governance (ESG) factors, understanding the nexus between non-financial disclosure and firm performance becomes pivotal. This study endeavors to explore this relationship within the context of listed consumer goods manufacturing firms in Nigeria. The study encompassed a population of 21 listed consumer goods manufacturing firms in Nigeria. The sample size was 21 firms, determined through census sampling techniques. The research spanned from 2013 to 2022. FGLS regression model was used to examine the relationship between the variables studied. The results found that environmental disclosure and social disclosure had a positive and significant effect on the firm's performance. While governance disclosure had a negative and significant effect on the firm's performance. This implies that firms that engage in robust non-financial disclosure practices tend to experience better overall performance. The study concludes that non-financial disclosure, encompassing environmental, social, and governance 15 aspects, plays a pivotal role in influencing the performance of listed consumer goods manufacturing firms in Nigeria. Firms are encouraged to enhance their ESG reporting frameworks, aligning with stakeholder expectations and global sustainability trends.
International Journal of Accounting, Finance and Social Science Research (IJAFSSR), 2024
The global business world has gone beyond just financial data and status of the firm but rather t... more The global business world has gone beyond just financial data and status of the firm but rather the mixture of the components that sustain the development of the business. This study investigated the effects of sustainability reporting on the value creation of listed manufacturing firms in Nigeria. The study employed longitudinal research design with the population of 45 quoted manufacturing firms on the Nigeria Exchange Group as at 30th May, 2023. The study used the whole 45 firms as a sample size using the sampling method. Data were obtained from the annual reports of selected manufacturing firms between the years 2012 and 2021. The multivariate regression analysis was used to examine how the sustainability reporting variables influence firm's value creation. The result of the study showed that social sustainability disclosure has a positive and significant effect on the earnings per share of the under study listed manufacturing firms in Nigeria with coefficient of1.006 (p=0.044< 0.05). Also, economic sustainability disclosure has a positive and insignificant effect on the earnings per share with coefficient of0.927(p=0.183> 0.05) while environmental sustainability disclosure has a negative and significant effect on the earnings per share with coefficient of-1.070(p=0.006< 0.05). Based on the findings of this study, it was concluded that the social sustainability reporting and economic sustainability reporting improve the value of listed manufacturing companies in Nigeria with an extra unit of disclosure. Also, the environmental sustainability reporting not have any significant effect on the value of listed manufacturing firms in Nigeria. Based on the findings of the study, it was recommended that valuable financial, material
International Journal of Accounting, Finance and Social Science Research (IJAFSSR), 2024
Tax compliance and revenue generation are critical components of any nation's economic developmen... more Tax compliance and revenue generation are critical components of any nation's economic development agenda. In Nigeria, as in many other countries, the effective collection of taxes plays a pivotal role in funding public services, infrastructure development, and social welfare programs. The purpose of this study was to evaluate the impact tax compliance on Nigeria's capacity to collect taxes. An ex-post facto research design was employed in this study. The Central Bank of Nigeria Statistical Bulletin and the Federal Inland Revenue Service Management were the main sources of the secondary data used in this study. The dataset used in this study spanned the years 2001 through 2021, and it was evaluated using Johansen's co-integration test and descriptive statistics. The findings indicated that as the tax rate and penalty rate increase over time, Nigeria's tax revenue tends to rise as well, suggesting that elevated tax rates and stricter penalties are associated with increased tax revenue generation. The study also discovers that increased audit penalty rates may discourage taxpayers from adhering to tax regulations, leading to a reduction in tax revenue, while lower audit penalty rates may encourage compliance and result in higher tax revenue. The study concludes that there exists a statistically significant positive long-and short-term relationship between Nigeria's tax revenue and the tax rate and penalty rate. Based on the findings, it is recommended that policymakers carefully consider the implications of audit penalties on tax collection efforts. Efforts should be made to strike a balance between enforcing tax laws and maintaining an environment conducive to voluntary compliance among taxpayers.
Journal of Accounting and Financial Management
Surviving the transitional period of job loss before finding a new job poses significant challeng... more Surviving the transitional period of job loss before finding a new job poses significant challenges for individuals. Therefore, this study aimed to investigate how the administration of contributory pension schemes affects transitory job loss in Nigeria. Employing an exploratory research design, this conceptual paper reviews existing literature to assess the extent of research on contributory pension schemes and transitory job loss. The study's findings revealed that individuals who lose their jobs encounter difficulties in accessing 25% of their pension contributions. These challenges arise from complex administrative procedures, non-remittance of contributions by employers, and a lack of awareness about the option to access a portion of their contributions in the Retirement Savings Account (RSA) in case of job loss. Moreover, this research indicated that contributors who experienced job loss, particularly during the COVID-19 pandemic, lacked a savings and investment culture, l...
Economy, Business & Development , 2024
In an era characterized by growing globalization and increased fiscal oversight, tax compliance h... more In an era characterized by growing globalization and increased fiscal oversight, tax compliance has become a significant concern for governments, businesses, and individuals globally. This study seeks to examine the impact of digital tax administration on tax compliance within the informal sector in the Southwest states of Nigeria. The study employed a survey research design to collect primary data using informal sector in the Southwest states of Nigeria. Therefore, this study suggested that the Government and relevant agencies should invest in training programs aimed at improving the technical know-how of individuals and businesses in the informal sector.
AI has gained significant traction as an innovative tool for automating tasks, enhancing data ana... more AI has gained significant traction as an innovative tool for automating tasks, enhancing data analytics, and reducing the risk of errors in auditing processes. This study investigated the impact of adopting artificial intelligence (AI) on the quality of audit practice in Nigeria, focusing on data mining, machine learning, and image recognition as proxies for the independent variable. Population was 251 accounting firms in southwest Nigeria, with a sample size of 159, purposively determined. The study utilized structured questionnaires for data collection, with regression analysis, and correlation matrices adopted for the analysis. The findings revealed a significant positive relationship between data mining and image recognition with the quality of audit practice in Nigeria. Machine learning, however, showed an insignificant negative relationship. This suggests that AI, particularly data mining and image recognition, can enhance audit quality in Nigeria. As a result, the study recommended that Nigerian audit professionals and firms should consider incorporating data mining techniques into their audit processes to improve effectiveness and error detection.
There has been a misconception among certain stakeholders regarding the principal responsibility ... more There has been a misconception among certain stakeholders regarding the principal responsibility of auditors concerning financial statements. This misconception revolves around the belief that statutory auditors bear the responsibility for detecting fraud and errors within an organization, aligning with the concept known as the "policeman's theory." This research aimed to investigate the impact of the policeman's theory on contemporary auditing practices in Nigeria. The study employed a combination of primary data collection through structured questionnaires and secondary data from extant literature. Findings revealed that the roles and responsibilities of external auditors have undergone significant evolution over the years, among others. As a result of these findings, it is recommended that statutory auditors should prioritize the implementation of robust quality control measures in their audit engagements.
International journal of business and management review, Nov 14, 2023
The digital transformation sweeping across industries in recent years has had a significant influ... more The digital transformation sweeping across industries in recent years has had a significant influence on the field of accounting. This study specifically aimed to assess the impact of blockchain technology on the effectiveness of accounting practices in Nigeria. This study used a qualitative approach and the study's primary data came from the distribution of a structured questionnaire to the targeted respondents, which comprised accountants, finance analysts, and blockchain experts. The total population was 178 registered accounting firms in Nigeria as of 31 st December 2022. A purposive sampling technique was used to select 123 firms from which 3 questionnaires were distributed to each of the firms selected, totaling 369, which served as the sample size. Data were analyzed through descriptive statistics and inferential statistics. The overall results found that blockchain technology had a significant positive effect on the efficacy of accounting practice in Nigeria. Thus, this study recommends that accounting firms in Nigeria should consider investing in blockchain technology to improve data security, transparency, and efficiency.
Sustainability has become a crucial aspect of modern business, extending beyond corporate social ... more Sustainability has become a crucial aspect of modern business, extending beyond corporate social responsibility to form an integral part of organizational strategies. This study investigated how sustainable business practices impact the going concern of listed manufacturing companies in Nigeria, focusing on stakeholder inclusiveness, dynamic workplace, and community engagement. The research used an ex-post facto research design, analyzing data from 60 consumer and industrial goods manufacturing companies listed on the Nigerian exchange group as of December 31, 2021. The findings indicated that stakeholder inclusiveness, a dynamic workplace, and community engagement positively and significantly influence the net asset per share of these listed manufacturing companies. In other words, incorporating sustainable business practices can enhance the companies' long-term financial stability and operational continuity. In conclusion, this study emphasizes the potential of sustainable business practices to shape the going concern status of listed manufacturing companies in Nigeria when effectively implemented. It suggests that manufacturing companies should develop and implement a well-balanced sustainability strategy that integrates community engagement, shareholder inclusiveness, and the creation of dynamic workplaces with their core business objectives.
Journal of Business and African Economy, 2024
Globally the high incidence of mismanagement of government resources has hindered development. Th... more Globally the high incidence of mismanagement of government resources has hindered development. The mismanagement affects all citizens, leading to issues such as non-execution of budgeted contracts, contract inflation, deteriorated infrastructure due to budget misappropriation, understating of revenue, policy inconsistency, disregard for laws and orders, high crime and mortality rates, overpopulation, and unemployment. This study aimed to evaluate the effect of value-for-money audits on the performance of the public sector in Nigeria. This study employed a qualitative research approach through the distribution of well-structured questionnaires The targeted respondents were officers of MDA (Ministry, Department, and Agencies) in Nigeria. The population of the study consists of 1,316 MDA (Ministry, Departments, and Agencies). The study adopted Slovin's formula to arrive at a sample size of 307, from which a total of 259 responses were returned filled. Data collected from the primary sources were analysed using both descriptive statistics and regression analysis. This study showed that value for money audit (internal control quality, internal control implementation, and internal control process) had a statistically significant positive effect on public sector performance (financial accountability). This study concluded that the implementation of effective internal control measures can bolster financial accountability and contribute to more sustainable and responsible public sector performance. This study recommends that governmental agencies should focus on enhancing the quality of their internal controls. This includes establishing robust systems, processes, and procedures that safeguard funds, prevent mismanagement, and ensure transparency in financial transactions.
Journal of Multiperspectives on Accounting Literature, 2024
This study examines the effect of sustainability reporting on the market performance of listed in... more This study examines the effect of sustainability reporting on the market performance of listed insurance firms in Nigeria. Methodology/approach: The study employed an ex-post facto research methodology, using pre-existing, unaltered data from 22 listed Nigerian insurance companies, conducted from 2013 to 2023. Panel regression analysis and the FGLS regression model were used to investigate the relationship between the variables.
International Journal of Economics and Financial Management , 2024
In the dynamic landscape of contemporary business environments, organizations encounter an array ... more In the dynamic landscape of contemporary business environments, organizations encounter an array of challenges, among which risk management and uncertainty stand as formidable adversaries. The intricate interplay of global markets, technological advancements, and sociopolitical shifts has accentuated the need for a nuanced understanding and effective management of risks. This study seeks to unravel the dynamics of risk management and uncertainty, examining its sources, impact on organizational performance, and strategies for fostering resilience in the face of unpredictable scenarios. This study utilized an exploratory research design, and data were collected from secondary sources through a thorough review of relevant existing literature. The results underscored the complex interaction between risk management practices and uncertainty concerning organizational performance. The findings showed that organizations exhibiting effective and robust risk management practices, coupled with managing uncertainty adeptly, tended to achieve superior performance. In conclusion, the study emphasizes the importance of an integrated approach to risk management and uncertainty for organizational success. Based on the findings, it is recommended that organizations should adopt integrated risk management strategies that consider both internal and external uncertainties to enhance overall effectiveness.
Journal of Business and African Economy, 2024
This paper investigates the effect of risk assessment procedures in audit reporting quality in li... more This paper investigates the effect of risk assessment procedures in audit reporting quality in listed deposit money banks in Nigeria. This is done from the fact that the banks in Nigeria despite their banking regulation, there is no consensus on the impact of risk assessment procedure in the banking sector. The population for the study comprises of 10 listed commercial banks in the Nigerian Exchange group. A simple random sampling technique was used, and data were obtained from the audited annual financial reports of the firms for a period of 2010-2021. Panel least square (PLS) was used to analyze the collected data. The study found out that risk assessment has negative and significance influence in the audit reporting quality. The implication of the findings is that management of financial risk in the banking sector is deficient, and it has a negative consequence on the quality of the report released to the investors for the assessment of the company's performance. The study therefore concludes that risk assessment procedures are a significant underlying factor that can negatively influence the quality of audit reporting in the banking sector.
Journal of Business and African Economy, 2024
Over the years, Policeman Theory has undergone dynamic transformations, responding to the ever-ch... more Over the years, Policeman Theory has undergone dynamic transformations, responding to the ever-changing complexities of business environments, regulatory landscapes, and societal expectations. As auditors play a crucial role in ensuring transparency, accountability, and the reliability of financial information, understanding the nuances of the Policeman Theory becomes imperative for both scholars and practitioners. This study embarks on a comprehensive review of the past and present dimensions of the Policeman Theory, shedding light on its origins, evolution, and contemporary relevance. This study utilized an exploratory research design, and data were collected from secondary sources through a thorough review of relevant existing literature. The findings underscore the relevance of the Policeman Theory, emphasizing auditors' role as vigilant overseers in detecting and deterring financial irregularities and fraud. The study reinforces the importance of auditors acting as proactive guardians against financial improprieties, resonating with the call for innovative approaches such as the integration of forensic accounting practices. Independence, highlighted as a cornerstone, aligns with the principles of the Policeman Theory, emphasizing the role of auditors as independent evaluators safeguarding against financial misconduct. Based on the findings, it is recommended that auditors embrace continuous learning and adaptation to stay abreast of technological advancements. The integration of forensic accounting practices should be explored as a proactive strategy to address the inadequacies of traditional audit reports and enhance fraud detection capabilities.
Journal Of Accounting And Finance Management, Dec 27, 2023
The study intends to shed light on how adherence to international public sector accounting standa... more The study intends to shed light on how adherence to international public sector accounting standards (IPSAS) 23 can enhance the efficient utilization of tax revenues in Ekiti State. In this study, a survey design was employed. Questionnaires were distributed directly to the specified participants, who were the Revenue Officers of Ekiti State Internal Revenue Service (EKSIRS). The entire population comprised 428 revenue officers, and we chose to use a census sampling method, which encompasses the entire population at 100%. Out of all the questionnaires distributed, 311 were returned with completed responses. The collected data was subsequently analyzed using both descriptive and inferential statistical techniques. The results analysis found that the collective impact of IPSAS 23 regulations, including revenue recognition, revenue presentation and disclosure, and revenue measurement, is a reliable predictor of tax revenue redemption by the Ekiti State Government. In essence, the implementation of these IPSAS 23 regulations significantly contributes to the redemption of tax revenues, signifying their importance in enhancing financial transparency and efficiency within the government's fiscal operations. It was concluded that revenue recognition emerges as a prominent contributor to tax revenue redemption, emphasizing the importance of accurate revenue recognition. This study then recommends that the Ekiti State Government should prioritize enhancing revenue recognition practices. This can be achieved through training and capacity-building for relevant staff to ensure accurate and timely recognition of revenue.
Journal Of Accounting And Finance Management, Jan 2, 2024
The goal of this study was to uncover the significant impact of government accounting officers&am... more The goal of this study was to uncover the significant impact of government accounting officers' roles on achieving sustainable revenue budgets and to comprehensively investigate how these officers' responsibilities affect the realization of such budgets in Ekiti State. In this research, a survey design was utilized. Data were collected directly from the source by distributing questionnaires to the designated participants, who were the Accounting Officers of the Ekiti State Government. The entire population consisted of 374 accounting officers, and we opted for a census sampling approach, which covers the entire population at 100%. Out of the total questionnaires distributed, 269 were returned with responses. The data collected was subsequently analyzed employing both descriptive and inferential statistical methods. The study found that the roles of accounting officers, specifically pertaining to expenditure control, internal control, and revenue management, have a positive and statistically significant impact on the attainment of a sustainable revenue budget within the Ekiti State Government. It is therefore concluded that when the government exercises strong control over its expenses, it is more likely to achieve its goal of sustaining a balanced and stable budget for the long term. This study recommends that government authorities should recognize the crucial role of accounting officers in achieving fiscal sustainability and provide the necessary support and resources to enable them to fulfill their responsibilities effectively.
Economy, Business & Development, May 31, 2024
Journal of Economics, Finance and Accounting Studies
The performance and growth of business enterprises, especially small and medium enterprises (SMEs... more The performance and growth of business enterprises, especially small and medium enterprises (SMEs), have been hindered by a multiplicity of taxes causing the untimely liquidation of most businesses. In this regard, this study examined the effect of multiple taxations on the financial performance of SMEs in Ekiti State, Nigeria. The study used a survey research method and analyzed it with correlation coupled with multiple regression analysis. The population comprises all registered and functional SMEs located in Ado Ekiti, Nigeria, and have been in existence for over 5 years with valid proof of tax payment. The results found that multiple tax burdens and multiple tax administrations exhibited a significant negative relationship with the financial performance of SMEs in Ekiti State, Nigeria, while the ability to pay tax revealed a significant positive relationship. From the aforementioned results, it was concluded that multiple taxes served as a worm that deeply reduced the investment...
European Journal of Business and Management
This study examined the effect of tax incentives on liquidity performance of quoted manufacturing... more This study examined the effect of tax incentives on liquidity performance of quoted manufacturing firms in Nigeria Exchange Group. Expo-facto research design was adopted in the study. The population of the study comprised of 18 industrial goods firms listed in Nigeria Exchange Group from 2012 to 2021. The sample size of 10 firms was selected using purposive sampling technique. Data was obtained from secondary sources through the published financial statements of the companies. Data were analyzed through descriptive and inferential statistics. The result from the analysis of data revealed that tax savings had a significant and positive effect on liquidity performance of companies. The findings also from the study revealed that tax holyday has a negative and insignificant effect on companies' liquidity performance. The study concluded that liquidity performance of quoted manufacturing firms improves at the instant of tax savings. It was therefore recommended that Nigerian government should provide adequate tax incentives for manufacturers in Nigeria in order to achieve the growth of infant manufacturing industries.
Journal of Accounting and Management, 2024
Market value, a key indicator of investor confidence, reflects not only the financial performance... more Market value, a key indicator of investor confidence, reflects not only the financial performance but also the broader sentiment within the financial market. By examining how forensic accounting techniques influence market value, this study aims to unravel the nuanced impact of these practices on the banking industry's standing and investor perceptions. Data were sourced from annual records of deposit money banks listed on the Nigerian Exchange Group (NGX). The study focused on a population of ten (10) selected deposit money banks listed on NGX and they were selected due to the availability of data at the time conducting this study. The study employed a census sampling technique and the total population was investigated. The collected data in this study underwent analysis using both descriptive and inferential statistical methods. This study revealed that forensic accounting techniques exhibit a positive and significant effect on the market value of deposit money banks in Nigeria. This implies that the application of forensic methods holds meaningful influence, garnering positive responses from investors and the market at large. It was concluded that the positive and significant impact of forensic accounting techniques underscores their meaningful influence on market value, emphasizing their importance in financial practices. This study therefore recommends that banks should consider investing in forensic accounting techniques to bolster their financial practices and enhance market value.
Economy, Business & Development, 2024
In the dynamic landscape of corporate reporting and stakeholder engagement, the significance of n... more In the dynamic landscape of corporate reporting and stakeholder engagement, the significance of nonfinancial disclosure has gained considerable prominence. As businesses strive for sustainable growth and investors increasingly recognize the value of environmental, social, and governance (ESG) factors, understanding the nexus between non-financial disclosure and firm performance becomes pivotal. This study endeavors to explore this relationship within the context of listed consumer goods manufacturing firms in Nigeria. The study encompassed a population of 21 listed consumer goods manufacturing firms in Nigeria. The sample size was 21 firms, determined through census sampling techniques. The research spanned from 2013 to 2022. FGLS regression model was used to examine the relationship between the variables studied. The results found that environmental disclosure and social disclosure had a positive and significant effect on the firm's performance. While governance disclosure had a negative and significant effect on the firm's performance. This implies that firms that engage in robust non-financial disclosure practices tend to experience better overall performance. The study concludes that non-financial disclosure, encompassing environmental, social, and governance 15 aspects, plays a pivotal role in influencing the performance of listed consumer goods manufacturing firms in Nigeria. Firms are encouraged to enhance their ESG reporting frameworks, aligning with stakeholder expectations and global sustainability trends.
International Journal of Accounting, Finance and Social Science Research (IJAFSSR), 2024
The global business world has gone beyond just financial data and status of the firm but rather t... more The global business world has gone beyond just financial data and status of the firm but rather the mixture of the components that sustain the development of the business. This study investigated the effects of sustainability reporting on the value creation of listed manufacturing firms in Nigeria. The study employed longitudinal research design with the population of 45 quoted manufacturing firms on the Nigeria Exchange Group as at 30th May, 2023. The study used the whole 45 firms as a sample size using the sampling method. Data were obtained from the annual reports of selected manufacturing firms between the years 2012 and 2021. The multivariate regression analysis was used to examine how the sustainability reporting variables influence firm's value creation. The result of the study showed that social sustainability disclosure has a positive and significant effect on the earnings per share of the under study listed manufacturing firms in Nigeria with coefficient of1.006 (p=0.044< 0.05). Also, economic sustainability disclosure has a positive and insignificant effect on the earnings per share with coefficient of0.927(p=0.183> 0.05) while environmental sustainability disclosure has a negative and significant effect on the earnings per share with coefficient of-1.070(p=0.006< 0.05). Based on the findings of this study, it was concluded that the social sustainability reporting and economic sustainability reporting improve the value of listed manufacturing companies in Nigeria with an extra unit of disclosure. Also, the environmental sustainability reporting not have any significant effect on the value of listed manufacturing firms in Nigeria. Based on the findings of the study, it was recommended that valuable financial, material
International Journal of Accounting, Finance and Social Science Research (IJAFSSR), 2024
Tax compliance and revenue generation are critical components of any nation's economic developmen... more Tax compliance and revenue generation are critical components of any nation's economic development agenda. In Nigeria, as in many other countries, the effective collection of taxes plays a pivotal role in funding public services, infrastructure development, and social welfare programs. The purpose of this study was to evaluate the impact tax compliance on Nigeria's capacity to collect taxes. An ex-post facto research design was employed in this study. The Central Bank of Nigeria Statistical Bulletin and the Federal Inland Revenue Service Management were the main sources of the secondary data used in this study. The dataset used in this study spanned the years 2001 through 2021, and it was evaluated using Johansen's co-integration test and descriptive statistics. The findings indicated that as the tax rate and penalty rate increase over time, Nigeria's tax revenue tends to rise as well, suggesting that elevated tax rates and stricter penalties are associated with increased tax revenue generation. The study also discovers that increased audit penalty rates may discourage taxpayers from adhering to tax regulations, leading to a reduction in tax revenue, while lower audit penalty rates may encourage compliance and result in higher tax revenue. The study concludes that there exists a statistically significant positive long-and short-term relationship between Nigeria's tax revenue and the tax rate and penalty rate. Based on the findings, it is recommended that policymakers carefully consider the implications of audit penalties on tax collection efforts. Efforts should be made to strike a balance between enforcing tax laws and maintaining an environment conducive to voluntary compliance among taxpayers.
Journal of Accounting and Financial Management
Surviving the transitional period of job loss before finding a new job poses significant challeng... more Surviving the transitional period of job loss before finding a new job poses significant challenges for individuals. Therefore, this study aimed to investigate how the administration of contributory pension schemes affects transitory job loss in Nigeria. Employing an exploratory research design, this conceptual paper reviews existing literature to assess the extent of research on contributory pension schemes and transitory job loss. The study's findings revealed that individuals who lose their jobs encounter difficulties in accessing 25% of their pension contributions. These challenges arise from complex administrative procedures, non-remittance of contributions by employers, and a lack of awareness about the option to access a portion of their contributions in the Retirement Savings Account (RSA) in case of job loss. Moreover, this research indicated that contributors who experienced job loss, particularly during the COVID-19 pandemic, lacked a savings and investment culture, l...