Conference Paper

AUDIT QUALITY AND AUDIT FEE OF SELECTED MANUFACTURING FIRMS IN OGUN STATE NIGERIA

The study evaluated the impact of Audit Fee and Audit Quality in Nigeria. This work employed three (3) Audit Fee mechanism for independent variables such as Audit Committee, Audit Reputation, and Firm Size in evaluating their impact of Audit Fee of the selected firms proxied by Audit Fee as dependent variable. The ex-post facto research design was used for this study. Secondary data were obtained from financial statement of selected Manufacturing Firms. Descriptive and inferential statistics was employed in estimating the data. Based on the analysis Audit Committee has no significant effect on Audit Fee of the selected Manufacturing Firms in Nigeria, Audit Reputation has no significant effect on Audit Fee of the selected Manufacturing Firms in Nigeria, Firm Size has no significant effect on Audit Fee of the selected Manufacturing Firms in Nigeria. On the basis of these findings, the study recommended that Manufacturing Firms should make sure that audit fees are set based on professionally specified benchmarks in a way that guarantees the audit independence and should also make sure that audit personnel are regularly rotated in order to reduce risks associated with familiarity and improve the quality of audits. KEYWORDS: Audit Quality, Audit Fee, Audit Committee, Audit Reputation, and Firm Size