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Company Attributes and the Timeliness of Financial Reporting in Nigeria

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Author(s): Iyoha, F.O.

Journal: Business Intelligence Journal
ISSN 1918-2325

Volume: 5;
Issue: 1;
Start page: 41;
Date: 2012;
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Keywords: Audit Firm | Age | Companies Attributes | Company Size | Financial Reports | Financial Year | Information | Legal Requirements | Nigeria | Nigeria Accounting Standards Boards Act | Profitability | Timeliness | Stakeholders

ABSTRACT
This study examines the impact of company attributes on the timeliness of financial reports in Nigeria based on a sample of 61 companies' annual reports for the years 1999-2008. The data were analyzed and results estimated using Ordinary Least Square (OLS). Regression which was complimented with the panel data estimation technique. The findings reveal that the age of company is the major company attribute that influences the overall quality of timeliness of financial reports in Nigeria. It was also observed that there is a significant difference in the timeliness of financial reporting among industrial sectors in Nigeria. The banking sector is found to be more timely in financial reporting. Though the results suggest that regulations are not enough to ensure that the quality of financial reports are timely in Nigeria, reporting lag may however be reduced by the existence and strict enforcement of rules and regulations of regulatory bodies.
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