Effect of Audit Committee Attributes on the Value of Firms in Nigeria

Abstract

In a bid to unravel the effect of audit committee attributes on the values of fifty listed firm in Nigeria from 2013 -2022, the study adopted expost facto research design. Secondary data were collected from annual reports of selected financial and non-financial firms that constantly published their annual report. The independent variables are audit committee independence, audit committee tenure and audit committee rotation, while the dependent variable is firm value. The study adopted stratified sampling technique and ordinary linear regression method. The result of study empirically emerged strong that audit committee rotation (ACRO) and audit
committee independence (ACID) affected firm value positively but non-significantly, while audit committee tenure (ACTE) proved negative and insignificant in affecting firm value of the sampled firms. The study concluded audit committee attributes affect the firm value and recommended that audit committee rotation and independence should be maintained and sustained as it positively impacts firm value.