Akinadewo Isreal Seriki - Academia.edu (original) (raw)

Papers by Akinadewo Isreal Seriki

Research paper thumbnail of Policeman Theory of Auditing: Review of the Past and Present

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.

Research paper thumbnail of Transfer Pricing and Financial Performance of Listed Multinational Manufacturing Companies in Nigeria

Africa Journal of Business and Economic Research, 2024

The question of the efficiency of transfer pricing in contributing to the economic success of the... more The question of the efficiency of transfer pricing in contributing to the economic success of the multinational firms in Nigeria motivated this study. The primary purpose of this study was to investigate the influence of transfer pricing on the financial performance of listed multinational manufacturing companies in Nigeria. The study utilised 12 international manufacturing companies listed on the Nigerian Exchange Group between 2013 and 2022, using an ex post facto research design and census sampling method. The panel data regression random effect analysis was adopted. Findings revealed that board size had a significant negative impact on return on assets; board independence showed an insignificant positive relationship with ROA; related party transactions disclosed a significant positive association with ROA. Nonetheless, board size showed an insignificant negative impact on Tobin's Q; board independence still presented a significant positive relationship with Tobin's Q; related party transactions indicated an immaterial negative association with firm value. However, the study concluded that the overall results showed that transfer pricing mechanisms significantly influence the financial performance of the listed companies. The study, therefore, recommended that managements of multinational firms strictly utilise transfer pricing to fulfil the financial requirements of their entities to enhance corporate economic growth.

Research paper thumbnail of An Assessment of the Influence of Structural Capital Disclosure on the Value of Listed Service Firms in Nigeria

Asian Journal of Economics, Business and Accounting, 2024

The purpose of this study was to assess the influence of structural capital disclosure on the val... more The purpose of this study was to assess the influence of structural capital disclosure on the value of listed service firms in Nigeria. This study employed a quantitative research approach, using data from annual reports and financial statements of 23 listed service firms in Nigeria. The sample was selected using a census sampling technique. The study used multiple regression analysis coupled with correlation analysis. From the findings that emerged from the result, the study concluded that structural capital disclosure proxy by organisational, process, and innovation capital disclosures significantly influence the value of listed service firms in Nigeria. Given this finding, the study recommends that a framework for such disclosure should be institutionalized as firms want to limit this type of disclosure because of business secrecy and competitors' disadvantage costs.

Research paper thumbnail of An Assessment of the Paradigm Shifts of Nigerian Audit Firms' Audit Procedure through the Adoption of Artificial Intelligence

International Journal of Social Sciences and Management, 2024

The auditing field has experienced a major alter with the integration of AI-driven tools and tech... more The auditing field has experienced a major alter with the integration of AI-driven tools and techniques. However, to maintain professional ethics remain crucial, guiding auditors to preserve integrity, objectivity and independence. This study explores into the intersection of AI (Artificial Intelligence) and professional ethics in audit procedures among Nigerian audit firms, evaluating their combined impact and implications. Using a survey research design, data was collected through structured questionnaire from professionals in the accounting field including accountants, auditors, and tax practitioners particularly those familiar with artificial intelligence usage in accounting firms based in Lagos, Nigeria's commercial center. The research incorporated all 56 registered accounting firms in Lagos State, utilizing a census sampling method to ensure representation of the entire population. This resulted in a sample size equivalent to 100% of the population, comprising 280 participants. Both descriptive and inferential statistical analyses were utilized to assess the proficiency levels of the respondents. The findings of the regression analysis findings revealed a significant positive effect between the

Research paper thumbnail of Determinants of Investment Property Choice: An Empirical Analysis of Nigeria Listed Firms

Journal of Economics, Finance and Management Studies, 2024

In order to investigate the factors influencing the choices of investment properties of the firms... more In order to investigate the factors influencing the choices of investment properties of the firms listed on Nigeria Exchange Group (NGX), this study carried out an empirical investigation. 155 businesses that were listed on the Nigerian Exchange Group (NGX) as of December 31, 2022, made up the study's population. A purposive sampling strategy was used to select a sample size of fifty-five firms. Data were obtained from the companies' audited annual financial reports for the years 2012-2022. Panel data regression (PDR) was utilized for the analysis of data. The findings showed that the accounting choices made by businesses regarding the management of investment property are significantly influenced by both debt and business size. Furthermore, the choice of how to treat investment property in accounting is not much influenced by the degree of board independence. Moreover, non-financial firms listed on the stock exchange choose different accounting methods for their investment assets due to the negative and significant effects of ownership concentration. This is due to the fact that a company that has a high ownership concentration is less likely to base its accounting choices on the International Financial Reporting Standards (IFRS). This implies that businesses are less likely to adhere to the fair value technique for valuing investment property if their ownership is more concentrated. The study discovered that a firm's accounting decision on the handling of investment property is significantly influenced by the drivers of investment property choosing. It is, thus, recommended the need for firms to set up a system that would track and assess investment property choices on an ongoing basis. This is expected to develop robust, and proactive plans that consider both short-term financial gain and long-term viability.

Research paper thumbnail of An Empirical Assessment of the Nexus between Agency Cost and Tax Compliance in Listed Firms in Nigeria

International Journal of Innovative Research & Development, 2024

Tax compliance in listed firms poses challenges due to the inherent agency problems within the co... more Tax compliance in listed firms poses challenges due to the inherent agency problems within the corporate structure that require additional administrative costs, which the company must incur to put the agent in check to achieve organisation targets. This study examined the effect of agency costs on tax compliance in listed firms in Nigeria. A cross-sectional time-series research design was used. The study population was 155 firms listed on the Nigerian Exchange Group (NGX) as of 31 st December 2022. The study used 20 firms as a sample size using a purposive sampling technique. Data were obtained from the audited annual financial reports of the firms from 2013 to 2022. Panel data regression (PDR) was used to analyse the collected data. The findings revealed that monitoring costs measured by audit fees, audit specialisation, and ICT investment have an insignificant effect on tax compliance. In addition, the bonding costs measured by board remuneration and employee incentives showed an insignificant effect on tax compliance, while residual loss measured by Employee shareholding does not significantly affect tax compliance. The implication is that the agency cost incurred by the shareholders to reduce agency problems does not significantly affect their tax compliance. However, monitoring costs, bonding costs, and residual loss have negative and insignificant effects on tax compliance. The study concluded that the costs of the agency have no significant effect on tax compliance in listed firms in Nigeria. Firms should explore ways to enhance the effectiveness of monitoring, bonding and residual activities to ensure better alignment with tax compliance objectives.

Research paper thumbnail of Corporate Attributes and Environmental Accounting Disclosure of Listed Pharmaceutical Companies in Nigeria

International Journal of Innovative Research & Development, 2024

Introduction Globally, environmental problems like Fossil fuel combustion's greenhouse gas emissi... more Introduction Globally, environmental problems like Fossil fuel combustion's greenhouse gas emissions, pollution emissions, sewage pollution from industries, hazardous waste management, the use of embodied resources, chemical contamination, and waste management in the industrial and agricultural sectors, among others, have been addressed as a result of economic improvement efforts (Nwobu et al., 2021). According to Hassan (2021), environmental violations have raised concerns among the appropriate parties because they have enhanced social awareness, which has raised the stakes for enterprises in terms of their obligation to protect the environment in the course of doing business. The concern between economic advancement and environmental issues has also become a matter of wider discourse in several fora (Agustinus et al., 2023). This has equally encouraged active voices from diverse quarters, including environmental activists, on the consequences of the adverse effect on business growth (Kusuma et al., 2023). Therefore, emissions from business activities are significant contributors to global warming and climate change and are the main cause of this problem. The problem of the pharmaceutical industry is complicated by the rise of antibiotic resistance. Nikolaou et al. (2017) noted that there is circumstantial proof that exposure to antibiotics has led to the development of antibiotic-resistant microorganisms in the environment. Through the industrial release of toxic substances, fluids, noises, and carbon emissions, organizations are pretentiously accountable for environmental deterioration (Gani & Sharma, 2019; Chowdhury et al., 2020). The adverse effects of environmental conditions in Nigeria and other developing countries on overall life expectancy are well acknowledged. Significant quantities of waste generated by the pharmaceutical industry are consistently discharged into the environment, with less consideration given to the specific consequences of such disposal on ecosystems, biota, and human populations. According to Yakhon and Dorweiler (2019), several aspects of the ecosystem are impacted by economic activity. These include contamination of the air, water, and drinking water, as well as

Research paper thumbnail of Determinants of Tax Compliance Among Small and Medium-Scale Enterprises in Ekiti State, Nigeria

Journal of Harbin Engineering University, 2024

The study investigated the factors influencing tax compliance among small and medium-scale enterp... more The study investigated the factors influencing tax compliance among small and medium-scale enterprises (SMEs) in Ekiti State. The population of the study consisted of all full-time staff members of Ekiti State Internal Revenue Services, totaling 321 individuals. Taro Yamane formula was used to determine the sample size. The primary data for this study was collected through a survey questionnaire. Both descriptive and inferential statistical techniques were applied to analyze the data. Descriptive statistics, including mean, standard deviation, and frequency distribution, were employed to provide a comprehensive overview of the variables under investigation. The findings from the study indicated that the social-cultural factor exhibited a negative and statistically insignificant influence on tax compliance among SMEs. Similarly, the political factor showed a positive but statistically insignificant effect on tax compliance. However, the religious factor exerted a positive and statistically significant impact on tax compliance among SMEs in Ekiti State. The study concluded that government has a vital role to play in enhancing the benefits of taxation to taxpayers and fostering a more positive relationship between taxpayers and tax authorities. The study therefore recommended that in order to improve a better understanding in the dynamics of tax compliance among SMEs in the region, tax revenues should be allocated towards public goods that benefit society as a whole, whereby taxpayers may perceive their contributions as part of a strategic collective action, enhancing their commitment to paying taxes to the government in return.

Research paper thumbnail of Earnings Management, Audit Committee and Firm Value of Quoted Oil and Gas Companies in Nigeria

European Journal of Science, Innovation and Technology, 2024

Financial scandals caused by the widespread overstating and manipulation of critical information ... more Financial scandals caused by the widespread overstating and manipulation of critical information in annual financial report of businesses are on the increase and users of the information are demanding transparency. This study was conducted to investigate the effect of earnings management and audit committee on firm value of quoted oil and gas firms in Nigeria. Ex-post facto research design was adopted. The population of the study was the nine oil and gas firms listed on the Nigerian Exchange (NGX) as at 31 st December, 2022. The study employed the nine firms as sample size using the census sampling technique. Data were obtained from the audited annual financial reports of the firms for a period of 2010-2022. Panel least square (PLS) was used in analysing the collected data. The study found that earnings management has significant negative effect on firm value and audit committee has insignificant effect on firm value. The moderating effect of audit committee independence was discovered to be significant over the relationship between earnings management and firm value using accruals as proxy of earnings management. The reverse was the result when earnings management was proxied with total assets and profit. The study concluded that earnings management is a significant underlying factor that can negatively influence the value of firms and cause decrease in its intrinsic value. It was recommended that investors should pay attention to corporate governance practice by companies especially the independence of the audit committee, as it influences financial success of listed oil and gas firms in Nigeria.

Research paper thumbnail of Assessment of the Impact of Board Characteristics on Forensic Accounting Practices of Listed Deposit Money Banks (DMBs) in Nigeria

European Journal of Science, Innovation and Technology

Due to economic uncertainty and stakeholders' disillusionment, which has prompted calls for bette... more Due to economic uncertainty and stakeholders' disillusionment, which has prompted calls for better financial system protection, extensive forensic accounting systems are needed. This study came into force to investigate how board characteristics affect forensic accounting practices in listed Nigerian Deposit Money Banks (DMBs). The longitudinal study included fifteen DMBs listed on the Nigerian Exchange Group as of December 31, 2022. The analysis used audited yearly financial records from 2013 to 2022 of these firms. The data was analysed using descriptive statistics and marginal logistic regression. This research found that board composition and competence positively affect forensic accounting adoption. The influence on board independence was positive but statistically negligible. This shows that board composition and expertise are key to forensic accounting practices implementation. This study concludes that board composition and experience help DMBs adopt forensic accounting practices. It was recommended that DMBs should adopt data analytics and AI. Policymakers should establish real-time information exchange methods, and banks should safeguard whistleblowers and allow anonymous reporting. These methods are essential for improving forensic accounting, detecting fraud quickly, and protecting financial stability and reputation.

Research paper thumbnail of Earnings Management, Audit Committee and Firm Value of Quoted Oil and Gas Companies in Nigeria

Financial scandals caused by the widespread overstating and manipulation of critical information ... more Financial scandals caused by the widespread overstating and manipulation of critical information in annual financial report of businesses are on the increase and users of the information are demanding transparency. This study was conducted to investigate the effect of earnings management and audit committee on firm value of quoted oil and gas firms in Nigeria. Ex-post facto research design was adopted. The population of the study was the nine oil and gas firms listed on the Nigerian Exchange (NGX) as at 31 st December, 2022. The study employed the nine firms as sample size using the census sampling technique. Data were obtained from the audited annual financial reports of the firms for a period of 2010-2022. Panel least square (PLS) was used in analysing the collected data. The study found that earnings management has significant negative effect on firm value and audit committee has insignificant effect on firm value. The moderating effect of audit committee independence was discovered to be significant over the relationship between earnings management and firm value using accruals as proxy of earnings management. The reverse was the result when earnings management was proxied with total assets and profit. The study concluded that earnings management is a significant underlying factor that can negatively influence the value of firms and cause decrease in its intrinsic value. It was recommended that investors should pay attention to corporate governance practice by companies especially the independence of the audit committee, as it influences financial success of listed oil and gas firms in Nigeria.

Research paper thumbnail of Determinants of Forensic Accounting Techniques' Choice on Fraudulent Practices' Investigation in Nigeria: Moderating Effects of Cashless Policy

Archives of Business Research

The issue of economic and financial crimes among other fraudulent practices in the past decades i... more The issue of economic and financial crimes among other fraudulent practices in the past decades in Nigeria, has been in the front burner of scholars in regard to the potency of forensic accounting to tackle this menace. The choice of the techniques adopted for investigation purposes is argued to determine the success or otherwise of this. Thus, this study examined the determinants of forensic accounting techniques' choice of practitioners in addition to the influence of cashless policy as a moderating factor. Research survey design was adopted for data collection through structured questionnaire on practitioners. Purposive sampling technique was used to determine the population and the sample size, which were 110 respondents. Data were analysed with the aid of descriptive and inferential statistics. Logistic regression results showed that size of fraud, organizational policies, and legal factors, have a positive but statistically insignificant effect, while educational attributes, industry attributes, professional fees, type of fraud, criminal evidence availability, and audit quality, showed a negative and insignificant effect on the forensic accounting techniques choice for fraudulent practices investigation. The results also depicted that the moderating variable (cashless policy) demonstrated a negative and insignificant effect on the relationship of the main variable, but with mixed results with individual components. This study, therefore, recommends that forensic accountants require a more in-depth knowledge of the

Research paper thumbnail of Empirical Assessment of the Effect of Financial Reporting Components on Investment Decisions of Small and Medium Enterprises in Nigeria

Archives of Business Research

Financial reporting is a critical aspect of business operations that enables companies to communi... more Financial reporting is a critical aspect of business operations that enables companies to communicate relevant financial information to their stakeholders. The primary goal of financial reporting is to provide investors with information that can assist them in making informed investment decisions. Therefore, this study aimed to investigate the effect of financial reporting on the investment decisions of SMEs. The study made use of primary data. Primary data was collected using an interview guide and questionnaires, with respondents being those in charge of making investment decisions in the firm under study or their agents. The questionnaire included both closed-ended and Likert-type questions. 150 questionnaires were administered out of which 100 were completed and returned. In order to ensure the reliability of the measures used in this research, the researcher conducted a random re-test exercise within the population sample of the study. The study findings indicate that financial...

Research paper thumbnail of Corporate Debt Profile And Financial Performance Of Listed Consumer Goods Firms In Nigeria

Archives of Business Research

This study examined the connectivity between corporate debt profile and financial performance of ... more This study examined the connectivity between corporate debt profile and financial performance of consumer goods firms in Nigeria. The corporate debt profile is captured with short term debt, long term debt and total debt while the outcome variables is capture with earnings per share and Tobin’s Q. Expo-facto design was adopted and covered 16 listed consumer goods firms in Nigeria based on the availability of data spanning from 2011 to 2020. Descriptive statistics were used to describe the variables of the study while the inferential statistics cover Pearson correlation and panel regression (random and fixed effect estimations) to analyze the proposed hypotheses of the study. Firstly, it was discovered that short- and long-term debt profile have a negative insignificant effect on financial performance captured with earnings per share of listed consumer goods firms in Nigeria to the tunes of -4.848905 (p=0.655>0.05) for short term debt and -6.150678 (p=0.785>0.05) for long term ...

Research paper thumbnail of Adoption of ICT and Efficiency in Accounting Practice in Nigeria

Zenodo (CERN European Organization for Nuclear Research), Apr 17, 2023

This study examines the adoption of information communication technology (ICT) and efficiency in ... more This study examines the adoption of information communication technology (ICT) and efficiency in accounting practice in Nigeria. The main objective is to convert analog accounting work, which includes the use of voluminous and time-consuming paperwork, to digital as well as office space and a lot of material, such as expenditure. With the prominence and advancement of technology, it is unavoidable that it will become a large part of any functioning company's operations, and a business cannot thrive without interacting with some technology during day-today operations. This study adopted primary data through a structured questionnaire that was administered to 130 respondents consisting of managers, auditors, chartered accountants, directors in accounting firms, and parastatals in Nigeria. The findings of the result show that the use of ICT and efficiency in accounting practice aid in expanding means of communication (EMC), data collection management (DCM), and information security management (ISC). This was quite beneficial in accounting practice. Accounting for proper ICT provision and defining the usage of technology to solve business and organizational problems were two of the recommendations offered. ICT is used to store, recover, and share information.

Research paper thumbnail of Impact of gender accounting on risk management in treasury functions of Nigeria deposit money banks

The Business and Management Review

Fraudulent practices in the banking sector, especially as it affects the functions of the treasur... more Fraudulent practices in the banking sector, especially as it affects the functions of the treasury department has been a subject of intense concern to policymakers and other stakeholders. It is, however, believed that if more female bank staff are utilised, it could lead to a better management of risk. This study investigated the nexus between gender accounting and the dependent variable. Structured questionnaire was administered on 10 staff of each of the Nigerian Deposit Money Banks. The population, which also represents the sample size comprises of 10 banks purposively selected with only 39% responses received. Data were analysed with the aid of logit regression. The results showed a significant positive relationship between gender accounting and risk management in treasury functions (Adj. R2 =0.680, F-stat = 21.145, p<0.05). This implies that increase in the independent variable will reduce the risk associated with the treasury functions of banks in Nigeria with diverse resul...

Research paper thumbnail of Retained earnings and Firms’ Market Value: Nigeria Experience

International Journal of Business & Economic Development, 2018

The study examined the effects of retained earnings on market value of listed firms after control... more The study examined the effects of retained earnings on market value of listed firms after controlling for earnings per share, dividend pay-out and financial leverage in the context of the Nigerian stock market. The sample data was extracted from 75 non-financial firms listed on the Nigeria stock Market during the period 2003 to 2014. The unbalanced panel data (cross-sectional and time series) used to examine the relationship was obtained from the annual financial statements of the various firms. Two basic approaches descriptive and multiple regression models were used to determine the relationship between the underlying variables. The results indicated a positive and significant relationship between retained earnings, earnings per share, dividend pay-out and value of firms while market value is positively but non-significant associated with financial leverage. The study reduces the dearth of previous research on dividend policy in emerging markets regarding the empirical relationship between retained earnings and market value of firms.

Research paper thumbnail of OWNERSHIP STRUCTURE AND DIVIDEND POLICY OF NIGERIAN DEPOSIT MONEY BANKS (DMBs

International Journal of Management Studies and Social Science Research, 2020

The study investigated the impact of ownership structure on the dividend policy of selected banks... more The study investigated the impact of ownership structure on the dividend policy of selected banks in Nigeria. This was with a view to providing information on the ownership structure and possible effects on dividend policy in the Nigerian Deposit Money Banks (DMBs). The study employed the use of secondary data. The data were sourced from Banks' audited financial reports, the Nigerian Stock Exchange 'fact book' and Central Bank of Nigeria statistical bulletin. Ten (10) DMBs out of the listed banks were purposively selected based on the size of their customer and longtime of existence. Data were analyzed using percentages, random and fixed effect method. The result showed that Concentrated ownership (t=2.2364, p<0.05), Institutional ownership (t=2.0035, p<0.05) and Management ownership (t=2.0099, p<0.05) positively and significantly affect owned policy of DMBs in Nigeria. The study concluded that ownership structure greatly influences dividend policy in the Nigerian banking industry.

Research paper thumbnail of Policeman Theory and Contemporary Auditing in Nigeria: An Empirical Investigation of Past and Present

European Centre for Research Training and Development UK, 2023

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.

Research paper thumbnail of In what way does blockchain technology tie with the efficacy of accounting practice in Nigerian accounting firms

European Centre for Research Training and Development UK, 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.

Research paper thumbnail of Policeman Theory of Auditing: Review of the Past and Present

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.

Research paper thumbnail of Transfer Pricing and Financial Performance of Listed Multinational Manufacturing Companies in Nigeria

Africa Journal of Business and Economic Research, 2024

The question of the efficiency of transfer pricing in contributing to the economic success of the... more The question of the efficiency of transfer pricing in contributing to the economic success of the multinational firms in Nigeria motivated this study. The primary purpose of this study was to investigate the influence of transfer pricing on the financial performance of listed multinational manufacturing companies in Nigeria. The study utilised 12 international manufacturing companies listed on the Nigerian Exchange Group between 2013 and 2022, using an ex post facto research design and census sampling method. The panel data regression random effect analysis was adopted. Findings revealed that board size had a significant negative impact on return on assets; board independence showed an insignificant positive relationship with ROA; related party transactions disclosed a significant positive association with ROA. Nonetheless, board size showed an insignificant negative impact on Tobin's Q; board independence still presented a significant positive relationship with Tobin's Q; related party transactions indicated an immaterial negative association with firm value. However, the study concluded that the overall results showed that transfer pricing mechanisms significantly influence the financial performance of the listed companies. The study, therefore, recommended that managements of multinational firms strictly utilise transfer pricing to fulfil the financial requirements of their entities to enhance corporate economic growth.

Research paper thumbnail of An Assessment of the Influence of Structural Capital Disclosure on the Value of Listed Service Firms in Nigeria

Asian Journal of Economics, Business and Accounting, 2024

The purpose of this study was to assess the influence of structural capital disclosure on the val... more The purpose of this study was to assess the influence of structural capital disclosure on the value of listed service firms in Nigeria. This study employed a quantitative research approach, using data from annual reports and financial statements of 23 listed service firms in Nigeria. The sample was selected using a census sampling technique. The study used multiple regression analysis coupled with correlation analysis. From the findings that emerged from the result, the study concluded that structural capital disclosure proxy by organisational, process, and innovation capital disclosures significantly influence the value of listed service firms in Nigeria. Given this finding, the study recommends that a framework for such disclosure should be institutionalized as firms want to limit this type of disclosure because of business secrecy and competitors' disadvantage costs.

Research paper thumbnail of An Assessment of the Paradigm Shifts of Nigerian Audit Firms' Audit Procedure through the Adoption of Artificial Intelligence

International Journal of Social Sciences and Management, 2024

The auditing field has experienced a major alter with the integration of AI-driven tools and tech... more The auditing field has experienced a major alter with the integration of AI-driven tools and techniques. However, to maintain professional ethics remain crucial, guiding auditors to preserve integrity, objectivity and independence. This study explores into the intersection of AI (Artificial Intelligence) and professional ethics in audit procedures among Nigerian audit firms, evaluating their combined impact and implications. Using a survey research design, data was collected through structured questionnaire from professionals in the accounting field including accountants, auditors, and tax practitioners particularly those familiar with artificial intelligence usage in accounting firms based in Lagos, Nigeria's commercial center. The research incorporated all 56 registered accounting firms in Lagos State, utilizing a census sampling method to ensure representation of the entire population. This resulted in a sample size equivalent to 100% of the population, comprising 280 participants. Both descriptive and inferential statistical analyses were utilized to assess the proficiency levels of the respondents. The findings of the regression analysis findings revealed a significant positive effect between the

Research paper thumbnail of Determinants of Investment Property Choice: An Empirical Analysis of Nigeria Listed Firms

Journal of Economics, Finance and Management Studies, 2024

In order to investigate the factors influencing the choices of investment properties of the firms... more In order to investigate the factors influencing the choices of investment properties of the firms listed on Nigeria Exchange Group (NGX), this study carried out an empirical investigation. 155 businesses that were listed on the Nigerian Exchange Group (NGX) as of December 31, 2022, made up the study's population. A purposive sampling strategy was used to select a sample size of fifty-five firms. Data were obtained from the companies' audited annual financial reports for the years 2012-2022. Panel data regression (PDR) was utilized for the analysis of data. The findings showed that the accounting choices made by businesses regarding the management of investment property are significantly influenced by both debt and business size. Furthermore, the choice of how to treat investment property in accounting is not much influenced by the degree of board independence. Moreover, non-financial firms listed on the stock exchange choose different accounting methods for their investment assets due to the negative and significant effects of ownership concentration. This is due to the fact that a company that has a high ownership concentration is less likely to base its accounting choices on the International Financial Reporting Standards (IFRS). This implies that businesses are less likely to adhere to the fair value technique for valuing investment property if their ownership is more concentrated. The study discovered that a firm's accounting decision on the handling of investment property is significantly influenced by the drivers of investment property choosing. It is, thus, recommended the need for firms to set up a system that would track and assess investment property choices on an ongoing basis. This is expected to develop robust, and proactive plans that consider both short-term financial gain and long-term viability.

Research paper thumbnail of An Empirical Assessment of the Nexus between Agency Cost and Tax Compliance in Listed Firms in Nigeria

International Journal of Innovative Research & Development, 2024

Tax compliance in listed firms poses challenges due to the inherent agency problems within the co... more Tax compliance in listed firms poses challenges due to the inherent agency problems within the corporate structure that require additional administrative costs, which the company must incur to put the agent in check to achieve organisation targets. This study examined the effect of agency costs on tax compliance in listed firms in Nigeria. A cross-sectional time-series research design was used. The study population was 155 firms listed on the Nigerian Exchange Group (NGX) as of 31 st December 2022. The study used 20 firms as a sample size using a purposive sampling technique. Data were obtained from the audited annual financial reports of the firms from 2013 to 2022. Panel data regression (PDR) was used to analyse the collected data. The findings revealed that monitoring costs measured by audit fees, audit specialisation, and ICT investment have an insignificant effect on tax compliance. In addition, the bonding costs measured by board remuneration and employee incentives showed an insignificant effect on tax compliance, while residual loss measured by Employee shareholding does not significantly affect tax compliance. The implication is that the agency cost incurred by the shareholders to reduce agency problems does not significantly affect their tax compliance. However, monitoring costs, bonding costs, and residual loss have negative and insignificant effects on tax compliance. The study concluded that the costs of the agency have no significant effect on tax compliance in listed firms in Nigeria. Firms should explore ways to enhance the effectiveness of monitoring, bonding and residual activities to ensure better alignment with tax compliance objectives.

Research paper thumbnail of Corporate Attributes and Environmental Accounting Disclosure of Listed Pharmaceutical Companies in Nigeria

International Journal of Innovative Research & Development, 2024

Introduction Globally, environmental problems like Fossil fuel combustion's greenhouse gas emissi... more Introduction Globally, environmental problems like Fossil fuel combustion's greenhouse gas emissions, pollution emissions, sewage pollution from industries, hazardous waste management, the use of embodied resources, chemical contamination, and waste management in the industrial and agricultural sectors, among others, have been addressed as a result of economic improvement efforts (Nwobu et al., 2021). According to Hassan (2021), environmental violations have raised concerns among the appropriate parties because they have enhanced social awareness, which has raised the stakes for enterprises in terms of their obligation to protect the environment in the course of doing business. The concern between economic advancement and environmental issues has also become a matter of wider discourse in several fora (Agustinus et al., 2023). This has equally encouraged active voices from diverse quarters, including environmental activists, on the consequences of the adverse effect on business growth (Kusuma et al., 2023). Therefore, emissions from business activities are significant contributors to global warming and climate change and are the main cause of this problem. The problem of the pharmaceutical industry is complicated by the rise of antibiotic resistance. Nikolaou et al. (2017) noted that there is circumstantial proof that exposure to antibiotics has led to the development of antibiotic-resistant microorganisms in the environment. Through the industrial release of toxic substances, fluids, noises, and carbon emissions, organizations are pretentiously accountable for environmental deterioration (Gani & Sharma, 2019; Chowdhury et al., 2020). The adverse effects of environmental conditions in Nigeria and other developing countries on overall life expectancy are well acknowledged. Significant quantities of waste generated by the pharmaceutical industry are consistently discharged into the environment, with less consideration given to the specific consequences of such disposal on ecosystems, biota, and human populations. According to Yakhon and Dorweiler (2019), several aspects of the ecosystem are impacted by economic activity. These include contamination of the air, water, and drinking water, as well as

Research paper thumbnail of Determinants of Tax Compliance Among Small and Medium-Scale Enterprises in Ekiti State, Nigeria

Journal of Harbin Engineering University, 2024

The study investigated the factors influencing tax compliance among small and medium-scale enterp... more The study investigated the factors influencing tax compliance among small and medium-scale enterprises (SMEs) in Ekiti State. The population of the study consisted of all full-time staff members of Ekiti State Internal Revenue Services, totaling 321 individuals. Taro Yamane formula was used to determine the sample size. The primary data for this study was collected through a survey questionnaire. Both descriptive and inferential statistical techniques were applied to analyze the data. Descriptive statistics, including mean, standard deviation, and frequency distribution, were employed to provide a comprehensive overview of the variables under investigation. The findings from the study indicated that the social-cultural factor exhibited a negative and statistically insignificant influence on tax compliance among SMEs. Similarly, the political factor showed a positive but statistically insignificant effect on tax compliance. However, the religious factor exerted a positive and statistically significant impact on tax compliance among SMEs in Ekiti State. The study concluded that government has a vital role to play in enhancing the benefits of taxation to taxpayers and fostering a more positive relationship between taxpayers and tax authorities. The study therefore recommended that in order to improve a better understanding in the dynamics of tax compliance among SMEs in the region, tax revenues should be allocated towards public goods that benefit society as a whole, whereby taxpayers may perceive their contributions as part of a strategic collective action, enhancing their commitment to paying taxes to the government in return.

Research paper thumbnail of Earnings Management, Audit Committee and Firm Value of Quoted Oil and Gas Companies in Nigeria

European Journal of Science, Innovation and Technology, 2024

Financial scandals caused by the widespread overstating and manipulation of critical information ... more Financial scandals caused by the widespread overstating and manipulation of critical information in annual financial report of businesses are on the increase and users of the information are demanding transparency. This study was conducted to investigate the effect of earnings management and audit committee on firm value of quoted oil and gas firms in Nigeria. Ex-post facto research design was adopted. The population of the study was the nine oil and gas firms listed on the Nigerian Exchange (NGX) as at 31 st December, 2022. The study employed the nine firms as sample size using the census sampling technique. Data were obtained from the audited annual financial reports of the firms for a period of 2010-2022. Panel least square (PLS) was used in analysing the collected data. The study found that earnings management has significant negative effect on firm value and audit committee has insignificant effect on firm value. The moderating effect of audit committee independence was discovered to be significant over the relationship between earnings management and firm value using accruals as proxy of earnings management. The reverse was the result when earnings management was proxied with total assets and profit. The study concluded that earnings management is a significant underlying factor that can negatively influence the value of firms and cause decrease in its intrinsic value. It was recommended that investors should pay attention to corporate governance practice by companies especially the independence of the audit committee, as it influences financial success of listed oil and gas firms in Nigeria.

Research paper thumbnail of Assessment of the Impact of Board Characteristics on Forensic Accounting Practices of Listed Deposit Money Banks (DMBs) in Nigeria

European Journal of Science, Innovation and Technology

Due to economic uncertainty and stakeholders' disillusionment, which has prompted calls for bette... more Due to economic uncertainty and stakeholders' disillusionment, which has prompted calls for better financial system protection, extensive forensic accounting systems are needed. This study came into force to investigate how board characteristics affect forensic accounting practices in listed Nigerian Deposit Money Banks (DMBs). The longitudinal study included fifteen DMBs listed on the Nigerian Exchange Group as of December 31, 2022. The analysis used audited yearly financial records from 2013 to 2022 of these firms. The data was analysed using descriptive statistics and marginal logistic regression. This research found that board composition and competence positively affect forensic accounting adoption. The influence on board independence was positive but statistically negligible. This shows that board composition and expertise are key to forensic accounting practices implementation. This study concludes that board composition and experience help DMBs adopt forensic accounting practices. It was recommended that DMBs should adopt data analytics and AI. Policymakers should establish real-time information exchange methods, and banks should safeguard whistleblowers and allow anonymous reporting. These methods are essential for improving forensic accounting, detecting fraud quickly, and protecting financial stability and reputation.

Research paper thumbnail of Earnings Management, Audit Committee and Firm Value of Quoted Oil and Gas Companies in Nigeria

Financial scandals caused by the widespread overstating and manipulation of critical information ... more Financial scandals caused by the widespread overstating and manipulation of critical information in annual financial report of businesses are on the increase and users of the information are demanding transparency. This study was conducted to investigate the effect of earnings management and audit committee on firm value of quoted oil and gas firms in Nigeria. Ex-post facto research design was adopted. The population of the study was the nine oil and gas firms listed on the Nigerian Exchange (NGX) as at 31 st December, 2022. The study employed the nine firms as sample size using the census sampling technique. Data were obtained from the audited annual financial reports of the firms for a period of 2010-2022. Panel least square (PLS) was used in analysing the collected data. The study found that earnings management has significant negative effect on firm value and audit committee has insignificant effect on firm value. The moderating effect of audit committee independence was discovered to be significant over the relationship between earnings management and firm value using accruals as proxy of earnings management. The reverse was the result when earnings management was proxied with total assets and profit. The study concluded that earnings management is a significant underlying factor that can negatively influence the value of firms and cause decrease in its intrinsic value. It was recommended that investors should pay attention to corporate governance practice by companies especially the independence of the audit committee, as it influences financial success of listed oil and gas firms in Nigeria.

Research paper thumbnail of Determinants of Forensic Accounting Techniques' Choice on Fraudulent Practices' Investigation in Nigeria: Moderating Effects of Cashless Policy

Archives of Business Research

The issue of economic and financial crimes among other fraudulent practices in the past decades i... more The issue of economic and financial crimes among other fraudulent practices in the past decades in Nigeria, has been in the front burner of scholars in regard to the potency of forensic accounting to tackle this menace. The choice of the techniques adopted for investigation purposes is argued to determine the success or otherwise of this. Thus, this study examined the determinants of forensic accounting techniques' choice of practitioners in addition to the influence of cashless policy as a moderating factor. Research survey design was adopted for data collection through structured questionnaire on practitioners. Purposive sampling technique was used to determine the population and the sample size, which were 110 respondents. Data were analysed with the aid of descriptive and inferential statistics. Logistic regression results showed that size of fraud, organizational policies, and legal factors, have a positive but statistically insignificant effect, while educational attributes, industry attributes, professional fees, type of fraud, criminal evidence availability, and audit quality, showed a negative and insignificant effect on the forensic accounting techniques choice for fraudulent practices investigation. The results also depicted that the moderating variable (cashless policy) demonstrated a negative and insignificant effect on the relationship of the main variable, but with mixed results with individual components. This study, therefore, recommends that forensic accountants require a more in-depth knowledge of the

Research paper thumbnail of Empirical Assessment of the Effect of Financial Reporting Components on Investment Decisions of Small and Medium Enterprises in Nigeria

Archives of Business Research

Financial reporting is a critical aspect of business operations that enables companies to communi... more Financial reporting is a critical aspect of business operations that enables companies to communicate relevant financial information to their stakeholders. The primary goal of financial reporting is to provide investors with information that can assist them in making informed investment decisions. Therefore, this study aimed to investigate the effect of financial reporting on the investment decisions of SMEs. The study made use of primary data. Primary data was collected using an interview guide and questionnaires, with respondents being those in charge of making investment decisions in the firm under study or their agents. The questionnaire included both closed-ended and Likert-type questions. 150 questionnaires were administered out of which 100 were completed and returned. In order to ensure the reliability of the measures used in this research, the researcher conducted a random re-test exercise within the population sample of the study. The study findings indicate that financial...

Research paper thumbnail of Corporate Debt Profile And Financial Performance Of Listed Consumer Goods Firms In Nigeria

Archives of Business Research

This study examined the connectivity between corporate debt profile and financial performance of ... more This study examined the connectivity between corporate debt profile and financial performance of consumer goods firms in Nigeria. The corporate debt profile is captured with short term debt, long term debt and total debt while the outcome variables is capture with earnings per share and Tobin’s Q. Expo-facto design was adopted and covered 16 listed consumer goods firms in Nigeria based on the availability of data spanning from 2011 to 2020. Descriptive statistics were used to describe the variables of the study while the inferential statistics cover Pearson correlation and panel regression (random and fixed effect estimations) to analyze the proposed hypotheses of the study. Firstly, it was discovered that short- and long-term debt profile have a negative insignificant effect on financial performance captured with earnings per share of listed consumer goods firms in Nigeria to the tunes of -4.848905 (p=0.655>0.05) for short term debt and -6.150678 (p=0.785>0.05) for long term ...

Research paper thumbnail of Adoption of ICT and Efficiency in Accounting Practice in Nigeria

Zenodo (CERN European Organization for Nuclear Research), Apr 17, 2023

This study examines the adoption of information communication technology (ICT) and efficiency in ... more This study examines the adoption of information communication technology (ICT) and efficiency in accounting practice in Nigeria. The main objective is to convert analog accounting work, which includes the use of voluminous and time-consuming paperwork, to digital as well as office space and a lot of material, such as expenditure. With the prominence and advancement of technology, it is unavoidable that it will become a large part of any functioning company's operations, and a business cannot thrive without interacting with some technology during day-today operations. This study adopted primary data through a structured questionnaire that was administered to 130 respondents consisting of managers, auditors, chartered accountants, directors in accounting firms, and parastatals in Nigeria. The findings of the result show that the use of ICT and efficiency in accounting practice aid in expanding means of communication (EMC), data collection management (DCM), and information security management (ISC). This was quite beneficial in accounting practice. Accounting for proper ICT provision and defining the usage of technology to solve business and organizational problems were two of the recommendations offered. ICT is used to store, recover, and share information.

Research paper thumbnail of Impact of gender accounting on risk management in treasury functions of Nigeria deposit money banks

The Business and Management Review

Fraudulent practices in the banking sector, especially as it affects the functions of the treasur... more Fraudulent practices in the banking sector, especially as it affects the functions of the treasury department has been a subject of intense concern to policymakers and other stakeholders. It is, however, believed that if more female bank staff are utilised, it could lead to a better management of risk. This study investigated the nexus between gender accounting and the dependent variable. Structured questionnaire was administered on 10 staff of each of the Nigerian Deposit Money Banks. The population, which also represents the sample size comprises of 10 banks purposively selected with only 39% responses received. Data were analysed with the aid of logit regression. The results showed a significant positive relationship between gender accounting and risk management in treasury functions (Adj. R2 =0.680, F-stat = 21.145, p<0.05). This implies that increase in the independent variable will reduce the risk associated with the treasury functions of banks in Nigeria with diverse resul...

Research paper thumbnail of Retained earnings and Firms’ Market Value: Nigeria Experience

International Journal of Business & Economic Development, 2018

The study examined the effects of retained earnings on market value of listed firms after control... more The study examined the effects of retained earnings on market value of listed firms after controlling for earnings per share, dividend pay-out and financial leverage in the context of the Nigerian stock market. The sample data was extracted from 75 non-financial firms listed on the Nigeria stock Market during the period 2003 to 2014. The unbalanced panel data (cross-sectional and time series) used to examine the relationship was obtained from the annual financial statements of the various firms. Two basic approaches descriptive and multiple regression models were used to determine the relationship between the underlying variables. The results indicated a positive and significant relationship between retained earnings, earnings per share, dividend pay-out and value of firms while market value is positively but non-significant associated with financial leverage. The study reduces the dearth of previous research on dividend policy in emerging markets regarding the empirical relationship between retained earnings and market value of firms.

Research paper thumbnail of OWNERSHIP STRUCTURE AND DIVIDEND POLICY OF NIGERIAN DEPOSIT MONEY BANKS (DMBs

International Journal of Management Studies and Social Science Research, 2020

The study investigated the impact of ownership structure on the dividend policy of selected banks... more The study investigated the impact of ownership structure on the dividend policy of selected banks in Nigeria. This was with a view to providing information on the ownership structure and possible effects on dividend policy in the Nigerian Deposit Money Banks (DMBs). The study employed the use of secondary data. The data were sourced from Banks' audited financial reports, the Nigerian Stock Exchange 'fact book' and Central Bank of Nigeria statistical bulletin. Ten (10) DMBs out of the listed banks were purposively selected based on the size of their customer and longtime of existence. Data were analyzed using percentages, random and fixed effect method. The result showed that Concentrated ownership (t=2.2364, p<0.05), Institutional ownership (t=2.0035, p<0.05) and Management ownership (t=2.0099, p<0.05) positively and significantly affect owned policy of DMBs in Nigeria. The study concluded that ownership structure greatly influences dividend policy in the Nigerian banking industry.

Research paper thumbnail of Policeman Theory and Contemporary Auditing in Nigeria: An Empirical Investigation of Past and Present

European Centre for Research Training and Development UK, 2023

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.

Research paper thumbnail of In what way does blockchain technology tie with the efficacy of accounting practice in Nigerian accounting firms

European Centre for Research Training and Development UK, 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.