I am a Professional Accountant, Tax Personnel, Forensic Accountant/Auditor, Researcher, Consultant and Lecturer of Accounting and Finance. A dedicated, focused and hardworking Scholar who is willing to impart lives and add value to both Academic and Professional World. My area of specialization are Environmental Accounting, Oil and Gas Accounting, International Accounting, Forensic Accounting, Auditing and Assurance, Accounting Theory, Accounting and Computerized Accounting. Phone: 08100180308 Address: Department of Accounting and Finance Seriki Sotayo Ogun State Nigeria
The Journal of Accounting and Management, Aug 16, 2016
We examine the effect of environmental accounting on the quality of accounting disclosure of ship... more We examine the effect of environmental accounting on the quality of accounting disclosure of shipping firms in Nigeria. Accounting reports among shipping firms are found to be deficient over time because they lack the necessary information to enable stakeholders to make informed decisions. We administered questionnaires to the staff of registered shipping firms in Nigeria and analysed data using multiple regression. Findings show that environmental accounting influences the quality of accounting disclosure of shipping firms in Nigeria. We found a significant positive association between environmental accounting and quality of accounting disclosure of shipping firms in Nigeria. Firms need to recognise a liability in the statement of assets and liabilities once it is feasible that the economic benefit of an outflow of resources will offset present obligation. We recommended that firms need to decide by discretion which expenditure or cost should include as environmental expenses or cost. Moreover, environmental costs should be capitalised or expensed as it is considered a contentious cost item for accountants and financial analyst. Firms should consider the extent of current environmental regulations and involvement; existing legal, economic, political and scientific experiences; the complexity of the environmental problem; and existing and availability of technological experience.
South Asian Research Journal of Biology and Applied Biosciences
Monetary policy is critical to a county’s economic development and achievement of macroeconomic o... more Monetary policy is critical to a county’s economic development and achievement of macroeconomic objectives. The objective and focus of monetary policy may shift from time to time, depending on the country’s level of economic development. Adequate financing and monetary policy become an unavoidable component in every economy sector, including the agricultural sector. The results of the ARDL analysis carried out on the relationship between monetary policy and the performance of agricultural sector of Nigeria economy revealed that credit financing and monetary policy significantly affected agricultural output in Nigeria (Adj. R2 = 0.998; Wald Stat = 4.69; ρ = 0.00). Agricultural credit guarantee scheme had significant weak positive effect on Agricultural output (β = 0.0006, t-test = 15.08, ρ = 0.00); credit to the agricultural sector had an insignificant weak negative effect on Agricultural output (β = -0.03, t = -1.16, ρ = 0.26); exchange rate has a weak positive and significant effec...
This paper establishes the effect of identification of environmental cost on quality of disclosur... more This paper establishes the effect of identification of environmental cost on quality of disclosure on shipping lines. This study adopts both descriptive design and correlation analysis and the population of the study is the registered shipping lines in Nigeria. The target population of this study was restricted to the legal department, finance and account department, and technical and marine department of the shipping companies. This study makes use of primary data. Primary data was collected through administering of questionnaires to the staff of the shipping lines in Nigeria. Simple regression model was used to establish the relationship between the dependent variable and the independent variable. Data analysis was done using Statistical Package for Social Sciences (SPSS) generating both descriptive and inferential statistics like Pearson’s correlation. Descriptive statistics include; frequencies, mean and standard deviation. The findings show that identification of environmental ...
Administering the Informal Sector (IS) for tax purposes and ensuring IS Tax Compliance (TC) has b... more Administering the Informal Sector (IS) for tax purposes and ensuring IS Tax Compliance (TC) has become a focus of attention by scholars and policy makers in recent time because of IS relevance to countries and its revenue generation potentials. Although, IS Tax Administration (TA) poses some difficulties due to administrative challenges and cost implications, incomplete records of account and nature of business activities which has led to high rate of Tax Evasion and Fraud (TEF).Researchers had conducted study on IS with less focus on TA and TEF. It is against this background that the study examined IS TA and ways of reducing IS TEF in Nigeria. Exploratory research design was employed with emphasis on literatures in the area of accounting and taxation. The study concluded that a good IS TA will reduces administrative time, provide a robust IS taxpayers database while adoption of technology will reduce the incidence of TEF, enhance tax burden redistribution, increase accountability a...
This research examines the effect of capital structure on firm’s performance with a case study ... more This research examines the effect of capital structure on firm’s performance with a case study of manufacturing companies in Nigeria from 2003 to 2012 with the purpose of providing a critical appraisal of the need and importance of capital structure. Descriptive and regression research technique was employed to consider the impact of some key variables such as Returns on asset (ROA), Returns on equity(ROE),Total debt to total asset(TD), Total debt to equity ratio(DE) on firm performance. Secondary data was employed using data derived from ten (10) manufacturing companies. From our findings, we observe that capital structure measures (total debt and debt to equity ratio) are negatively related to firm performance. It is hereby recommended that firms should use more of equity than debt in financing their business activities, in as much as the value of a business can be enhanced using debt capital. Hence firms should establish the point at which the weighted average cost of capital i...
Fraud in the Nigerian Banking Industry before the recent merger, acquisition and recapitalization... more Fraud in the Nigerian Banking Industry before the recent merger, acquisition and recapitalization efforts was at alarming rate. It has caused many banks to collapse, and many investors and depositors funds were trapped in. Infact it has prevented many banks from achieving their goals and many businesses went into liquidation. Honestly speaking it has become a cankerworm that has eating deep into the financial sector of the Nigerian economy. That calls for the need for this study and the purpose of this study therefore is to identify the causes of fraud, measure its impact and identify the means of controlling it. The study is a survey research and questionnaire was used for the collection of primary data. Questionnaires were administered to staff of First Bank of Nigeria PLC. Chi-square was used in analyzing data. The findings show that lack of adequate training, communication gap, and poor leadership skills were the greatest causes of fraud in Nigerian banking industry. It was conc...
This study focuses on the effect of strategic marketing of financial services on organization per... more This study focuses on the effect of strategic marketing of financial services on organization performance. The primary purpose of this study is to focus on the relationship between marketing strategies and banks performance. The research design adopted for this study was survey research design in which a sample was selected at random amongst the population of the study and used as respondents for the study. Questionnaires were used as an instrument of primary data collection. Stratified random sampling was used to select the sample. Simple percentages and frequency distributions together with Spearman's rank correlation coefficient were used to analyze the data. The result of this study reveals that there is a significant positive relationship between the financial marketing services and profitability of First Bank of Nigeria Plc. Therefore, it is recommended that Banks should remove the communication gap that currently exists between the banks and their customers as most custom...
This research examines the effect of capital structure on firm’s performance with a case study ... more This research examines the effect of capital structure on firm’s performance with a case study of manufacturing companies in Nigeria from 2003 to 2012 with the purpose of providing a critical appraisal of the need and importance of capital structure. Descriptive and regression research technique was employed to consider the impact of some key variables such as Returns on asset (ROA), Returns on equity(ROE),Total debt to total asset(TD), Total debt to equity ratio(DE) on firm performance. Secondary data was employed using data derived from ten (10) manufacturing companies. From our findings, we observe that capital structure measures (total debt and debt to equity ratio) are negatively related to firm performance. It is hereby recommended that firms should use more of equity than debt in financing their business activities, in as much as the value of a business can be enhanced using debt capital. Hence firms should establish the point at which the weighted average cost of capital i...
The paper adopts content analysis method to investigate the underlying assumptions of the Pillar ... more The paper adopts content analysis method to investigate the underlying assumptions of the Pillar of Growth within the framework of Nigeria Vision 20:2020 (NV20:2020) and the Transformation Agenda. The aim is to show how realistic are the underlying assumptions and whether or not the available structure/measures of the financial system would be sufficient to finance the Vision. The conclusion is that the present Transformation Agenda and indeed the Medium-Term Implementation Plans adequately provide for the financing of NV20:2020 if the provisions of the documents are strictly adhered to.
Kampala International University Interdisciplinary Journal of Humanities and Social Sciences
The increasing demand for forensic accounting is a certain defining feature of most businesses in... more The increasing demand for forensic accounting is a certain defining feature of most businesses in the world. Forensic accounting occurs from the reason and result of fraud and technical errors invented by humans. It became relevant that forensic accounting is introduced and practiced, and forensic accountant to provide litigation support and investigative accounting. Therefore, this paper critically examined the effect of forensic accounting on fraud detection in the manufacturing industry in Nigeria. This study employed the survey design and data were collected using primary data and this was achieved via a structured questionnaire. The population of the study consists of all the employees of PZ Nigeria Limited. The target population of the study was the employees in the accounting department of PZ Nigeria Limited. Regression analysis was used to show the relationship between the dependent variable and the independent variable. The study found out there is a significant effect of f...
South Asian Research of Business and Management , 2022
Monetary policy is critical to a county's economic development and achievement of macroeconomic o... more Monetary policy is critical to a county's economic development and achievement of macroeconomic objectives. The objective and focus of monetary policy may shift from time to time, depending on the country's level of economic development. Adequate financing and monetary policy become an unavoidable component in every economy sector, including the agricultural sector. The results of the ARDL analysis carried out on the relationship between monetary policy and the performance of agricultural sector of Nigeria economy revealed that credit financing and monetary policy significantly affected agricultural output in Nigeria (Adj. R 2 = 0.998; Wald Stat = 4.69; ρ = 0.00). Agricultural credit guarantee scheme had significant weak positive effect on Agricultural output (β = 0.0006, t-test = 15.08, ρ = 0.00); credit to the agricultural sector had an insignificant weak negative effect on Agricultural output (β =-0.03, t =-1.16, ρ = 0.26); exchange rate has a weak positive and significant effect on Agricultural output (β = 39.9, t = 20.27, ρ = 0.00); inflation rate has a strong positive and significant effect on agricultural output (β = 25.5, t = 3.12, ρ = 0.01); real interest rate has a strong positive and significant effect on agricultural output (β = 34.67, t = 2.86, ρ = 0.00). It was evidenced in this study that regulation of credit funding and monetary policy factors would enhance the agricultural productivity, increases food supply and promotes growth in the economy.
A thousand and one factors influence firm profitability and overall performance. This study looke... more A thousand and one factors influence firm profitability and overall performance. This study looked at how monetary policies affected the performance of Nigeria's listed deposit money banks. The study's goal is to examine monetary policy instruments such as open market operations, cash reserve requirements, liquidity ratios, and interest rates to determine their impact on banks, whether significant or not, using return on assets as a performance metric. The purposive sampling technique was used to select five quoted deposit money banks in the financial services industry. The study's data came from CBN statistical bulletins and the annual reports of the companies studied, which ranged from 2012 to 2021. Using multiple linear regression and Pearson product correlation analysis, the hypotheses were tested to see if the null hypothesis was accepted or not. According to the study's findings, open market operations have no significant positive effect on the profitability of Nigeria's listed deposit money banks. Further research revealed that cash reserve ratios have a significant positive effect on the profitability of Nigeria's listed deposit money banks. Based on the findings, the study's main conclusion is that monetary policies have a significant influence on the profitability of Nigerian listed deposit money banks when they are pooled together. Among the recommendations was to extend monetary policy beyond OMO because it had no significant influence. According to the study, banks should maintain an adequate cash reserve ratio because it has a significant impact on performance. Deposit money banks should place a greater emphasis on financial performance factors over which they have direct control, such as capital adequacy, asset quality, management efficiency, earnings ability, and liquidity management.
International Journal in Commerce, IT and Social Sciences, 2018
The history of Accounting, stewardship and total separation of the roles of agents from principal... more The history of Accounting, stewardship and total separation of the roles of agents from principal beget Auditing history. This study adopted exploratory method by reviewing relevant extant literatures pertaining to accounting, financial reporting, and auditing. The study traced the history of auditing and evaluated the various dynamics of duties of auditors over the years. It was discovered that the duties of auditors have changed over time. The original functions assigned to the auditors in the inception was to detect fraud and help ease the mind of the principal by ascertaining that the agents have shown the true financial situation of the business. Much later in history, this duty changed since auditors are not guarantors and there is no way they can ascertain 100% that the report prepared and presented by the agents are free from fraud. Therefore, the auditors were expected to give reasonable skill and care in giving their opinion on whether the financial statements faithfully represent the financial situation of the business. The roles of auditors were seen to be changing due to changes in the business transactions around the world. This paper explored the relevancy of financial reporting in the evolution and development of auditing. The study concluded that the past indeed influenced the present and subsequently the future through the use of CAATs, therefore auditors should strive towards understanding their roles as these have been the main focus in audit history.
In manufacturing companies, the relevancy of pre-emptive budgetary process is significantly impor... more In manufacturing companies, the relevancy of pre-emptive budgetary process is significantly important. It serves as a standard to evaluate the actual result with the objective. Hence, this study examines and establishes modalities of which budgetary process can be used as a tool for profit maximization in a manufacturing company, with a definite reference to Coca-Cola Company. The main hypothesis tested examines the effect of budgetary process on profit maximization of a manufacturing company, (Coca-Cola Company). Data was collected using both Primary and Secondary data. In order to achieve robust findings, a KAP (Knowledge, Attitudes, and Perceptions) quantitative approach was adopted in which questionnaires' survey was administered. The Primary data was collected from the organization's personnel's and stockholders in Coca-Cola Company. The data collected/retrieved through the questionnaires were analyzed using statistical tool: the Statistical Package for Social Scien...
Delays in financial reporting give a negative signal to the market and adversely affect the compa... more Delays in financial reporting give a negative signal to the market and adversely affect the company’s market value. Financial reporting lags raise suspicions among market participants regarding concealment of any potential bad news by a firm, which may affect its share value. Thus, the study investigates the interaction of audit reporting lag and firm value in Nigerian beverage and food companies. Audit delays lead to the late publication of financial statements, enhancing the information asymmetry problem, and affecting firm value. We obtained the data from annual reports of 10 listed companies for five years. The Generalized Method of Moments (GMM) estimation is used to analyze the data. The results suggest that audit delays do not affect the market value of a firm. Previous studies mainly focus on the relationship between corporate governance firm characteristics, and audit reporting lag in Nigeria. To the best of our knowledge, the impact of audit delays on firm value in Nigeria...
The Journal of Accounting and Management, Aug 16, 2016
We examine the effect of environmental accounting on the quality of accounting disclosure of ship... more We examine the effect of environmental accounting on the quality of accounting disclosure of shipping firms in Nigeria. Accounting reports among shipping firms are found to be deficient over time because they lack the necessary information to enable stakeholders to make informed decisions. We administered questionnaires to the staff of registered shipping firms in Nigeria and analysed data using multiple regression. Findings show that environmental accounting influences the quality of accounting disclosure of shipping firms in Nigeria. We found a significant positive association between environmental accounting and quality of accounting disclosure of shipping firms in Nigeria. Firms need to recognise a liability in the statement of assets and liabilities once it is feasible that the economic benefit of an outflow of resources will offset present obligation. We recommended that firms need to decide by discretion which expenditure or cost should include as environmental expenses or cost. Moreover, environmental costs should be capitalised or expensed as it is considered a contentious cost item for accountants and financial analyst. Firms should consider the extent of current environmental regulations and involvement; existing legal, economic, political and scientific experiences; the complexity of the environmental problem; and existing and availability of technological experience.
South Asian Research Journal of Biology and Applied Biosciences
Monetary policy is critical to a county’s economic development and achievement of macroeconomic o... more Monetary policy is critical to a county’s economic development and achievement of macroeconomic objectives. The objective and focus of monetary policy may shift from time to time, depending on the country’s level of economic development. Adequate financing and monetary policy become an unavoidable component in every economy sector, including the agricultural sector. The results of the ARDL analysis carried out on the relationship between monetary policy and the performance of agricultural sector of Nigeria economy revealed that credit financing and monetary policy significantly affected agricultural output in Nigeria (Adj. R2 = 0.998; Wald Stat = 4.69; ρ = 0.00). Agricultural credit guarantee scheme had significant weak positive effect on Agricultural output (β = 0.0006, t-test = 15.08, ρ = 0.00); credit to the agricultural sector had an insignificant weak negative effect on Agricultural output (β = -0.03, t = -1.16, ρ = 0.26); exchange rate has a weak positive and significant effec...
This paper establishes the effect of identification of environmental cost on quality of disclosur... more This paper establishes the effect of identification of environmental cost on quality of disclosure on shipping lines. This study adopts both descriptive design and correlation analysis and the population of the study is the registered shipping lines in Nigeria. The target population of this study was restricted to the legal department, finance and account department, and technical and marine department of the shipping companies. This study makes use of primary data. Primary data was collected through administering of questionnaires to the staff of the shipping lines in Nigeria. Simple regression model was used to establish the relationship between the dependent variable and the independent variable. Data analysis was done using Statistical Package for Social Sciences (SPSS) generating both descriptive and inferential statistics like Pearson’s correlation. Descriptive statistics include; frequencies, mean and standard deviation. The findings show that identification of environmental ...
Administering the Informal Sector (IS) for tax purposes and ensuring IS Tax Compliance (TC) has b... more Administering the Informal Sector (IS) for tax purposes and ensuring IS Tax Compliance (TC) has become a focus of attention by scholars and policy makers in recent time because of IS relevance to countries and its revenue generation potentials. Although, IS Tax Administration (TA) poses some difficulties due to administrative challenges and cost implications, incomplete records of account and nature of business activities which has led to high rate of Tax Evasion and Fraud (TEF).Researchers had conducted study on IS with less focus on TA and TEF. It is against this background that the study examined IS TA and ways of reducing IS TEF in Nigeria. Exploratory research design was employed with emphasis on literatures in the area of accounting and taxation. The study concluded that a good IS TA will reduces administrative time, provide a robust IS taxpayers database while adoption of technology will reduce the incidence of TEF, enhance tax burden redistribution, increase accountability a...
This research examines the effect of capital structure on firm’s performance with a case study ... more This research examines the effect of capital structure on firm’s performance with a case study of manufacturing companies in Nigeria from 2003 to 2012 with the purpose of providing a critical appraisal of the need and importance of capital structure. Descriptive and regression research technique was employed to consider the impact of some key variables such as Returns on asset (ROA), Returns on equity(ROE),Total debt to total asset(TD), Total debt to equity ratio(DE) on firm performance. Secondary data was employed using data derived from ten (10) manufacturing companies. From our findings, we observe that capital structure measures (total debt and debt to equity ratio) are negatively related to firm performance. It is hereby recommended that firms should use more of equity than debt in financing their business activities, in as much as the value of a business can be enhanced using debt capital. Hence firms should establish the point at which the weighted average cost of capital i...
Fraud in the Nigerian Banking Industry before the recent merger, acquisition and recapitalization... more Fraud in the Nigerian Banking Industry before the recent merger, acquisition and recapitalization efforts was at alarming rate. It has caused many banks to collapse, and many investors and depositors funds were trapped in. Infact it has prevented many banks from achieving their goals and many businesses went into liquidation. Honestly speaking it has become a cankerworm that has eating deep into the financial sector of the Nigerian economy. That calls for the need for this study and the purpose of this study therefore is to identify the causes of fraud, measure its impact and identify the means of controlling it. The study is a survey research and questionnaire was used for the collection of primary data. Questionnaires were administered to staff of First Bank of Nigeria PLC. Chi-square was used in analyzing data. The findings show that lack of adequate training, communication gap, and poor leadership skills were the greatest causes of fraud in Nigerian banking industry. It was conc...
This study focuses on the effect of strategic marketing of financial services on organization per... more This study focuses on the effect of strategic marketing of financial services on organization performance. The primary purpose of this study is to focus on the relationship between marketing strategies and banks performance. The research design adopted for this study was survey research design in which a sample was selected at random amongst the population of the study and used as respondents for the study. Questionnaires were used as an instrument of primary data collection. Stratified random sampling was used to select the sample. Simple percentages and frequency distributions together with Spearman's rank correlation coefficient were used to analyze the data. The result of this study reveals that there is a significant positive relationship between the financial marketing services and profitability of First Bank of Nigeria Plc. Therefore, it is recommended that Banks should remove the communication gap that currently exists between the banks and their customers as most custom...
This research examines the effect of capital structure on firm’s performance with a case study ... more This research examines the effect of capital structure on firm’s performance with a case study of manufacturing companies in Nigeria from 2003 to 2012 with the purpose of providing a critical appraisal of the need and importance of capital structure. Descriptive and regression research technique was employed to consider the impact of some key variables such as Returns on asset (ROA), Returns on equity(ROE),Total debt to total asset(TD), Total debt to equity ratio(DE) on firm performance. Secondary data was employed using data derived from ten (10) manufacturing companies. From our findings, we observe that capital structure measures (total debt and debt to equity ratio) are negatively related to firm performance. It is hereby recommended that firms should use more of equity than debt in financing their business activities, in as much as the value of a business can be enhanced using debt capital. Hence firms should establish the point at which the weighted average cost of capital i...
The paper adopts content analysis method to investigate the underlying assumptions of the Pillar ... more The paper adopts content analysis method to investigate the underlying assumptions of the Pillar of Growth within the framework of Nigeria Vision 20:2020 (NV20:2020) and the Transformation Agenda. The aim is to show how realistic are the underlying assumptions and whether or not the available structure/measures of the financial system would be sufficient to finance the Vision. The conclusion is that the present Transformation Agenda and indeed the Medium-Term Implementation Plans adequately provide for the financing of NV20:2020 if the provisions of the documents are strictly adhered to.
Kampala International University Interdisciplinary Journal of Humanities and Social Sciences
The increasing demand for forensic accounting is a certain defining feature of most businesses in... more The increasing demand for forensic accounting is a certain defining feature of most businesses in the world. Forensic accounting occurs from the reason and result of fraud and technical errors invented by humans. It became relevant that forensic accounting is introduced and practiced, and forensic accountant to provide litigation support and investigative accounting. Therefore, this paper critically examined the effect of forensic accounting on fraud detection in the manufacturing industry in Nigeria. This study employed the survey design and data were collected using primary data and this was achieved via a structured questionnaire. The population of the study consists of all the employees of PZ Nigeria Limited. The target population of the study was the employees in the accounting department of PZ Nigeria Limited. Regression analysis was used to show the relationship between the dependent variable and the independent variable. The study found out there is a significant effect of f...
South Asian Research of Business and Management , 2022
Monetary policy is critical to a county's economic development and achievement of macroeconomic o... more Monetary policy is critical to a county's economic development and achievement of macroeconomic objectives. The objective and focus of monetary policy may shift from time to time, depending on the country's level of economic development. Adequate financing and monetary policy become an unavoidable component in every economy sector, including the agricultural sector. The results of the ARDL analysis carried out on the relationship between monetary policy and the performance of agricultural sector of Nigeria economy revealed that credit financing and monetary policy significantly affected agricultural output in Nigeria (Adj. R 2 = 0.998; Wald Stat = 4.69; ρ = 0.00). Agricultural credit guarantee scheme had significant weak positive effect on Agricultural output (β = 0.0006, t-test = 15.08, ρ = 0.00); credit to the agricultural sector had an insignificant weak negative effect on Agricultural output (β =-0.03, t =-1.16, ρ = 0.26); exchange rate has a weak positive and significant effect on Agricultural output (β = 39.9, t = 20.27, ρ = 0.00); inflation rate has a strong positive and significant effect on agricultural output (β = 25.5, t = 3.12, ρ = 0.01); real interest rate has a strong positive and significant effect on agricultural output (β = 34.67, t = 2.86, ρ = 0.00). It was evidenced in this study that regulation of credit funding and monetary policy factors would enhance the agricultural productivity, increases food supply and promotes growth in the economy.
A thousand and one factors influence firm profitability and overall performance. This study looke... more A thousand and one factors influence firm profitability and overall performance. This study looked at how monetary policies affected the performance of Nigeria's listed deposit money banks. The study's goal is to examine monetary policy instruments such as open market operations, cash reserve requirements, liquidity ratios, and interest rates to determine their impact on banks, whether significant or not, using return on assets as a performance metric. The purposive sampling technique was used to select five quoted deposit money banks in the financial services industry. The study's data came from CBN statistical bulletins and the annual reports of the companies studied, which ranged from 2012 to 2021. Using multiple linear regression and Pearson product correlation analysis, the hypotheses were tested to see if the null hypothesis was accepted or not. According to the study's findings, open market operations have no significant positive effect on the profitability of Nigeria's listed deposit money banks. Further research revealed that cash reserve ratios have a significant positive effect on the profitability of Nigeria's listed deposit money banks. Based on the findings, the study's main conclusion is that monetary policies have a significant influence on the profitability of Nigerian listed deposit money banks when they are pooled together. Among the recommendations was to extend monetary policy beyond OMO because it had no significant influence. According to the study, banks should maintain an adequate cash reserve ratio because it has a significant impact on performance. Deposit money banks should place a greater emphasis on financial performance factors over which they have direct control, such as capital adequacy, asset quality, management efficiency, earnings ability, and liquidity management.
International Journal in Commerce, IT and Social Sciences, 2018
The history of Accounting, stewardship and total separation of the roles of agents from principal... more The history of Accounting, stewardship and total separation of the roles of agents from principal beget Auditing history. This study adopted exploratory method by reviewing relevant extant literatures pertaining to accounting, financial reporting, and auditing. The study traced the history of auditing and evaluated the various dynamics of duties of auditors over the years. It was discovered that the duties of auditors have changed over time. The original functions assigned to the auditors in the inception was to detect fraud and help ease the mind of the principal by ascertaining that the agents have shown the true financial situation of the business. Much later in history, this duty changed since auditors are not guarantors and there is no way they can ascertain 100% that the report prepared and presented by the agents are free from fraud. Therefore, the auditors were expected to give reasonable skill and care in giving their opinion on whether the financial statements faithfully represent the financial situation of the business. The roles of auditors were seen to be changing due to changes in the business transactions around the world. This paper explored the relevancy of financial reporting in the evolution and development of auditing. The study concluded that the past indeed influenced the present and subsequently the future through the use of CAATs, therefore auditors should strive towards understanding their roles as these have been the main focus in audit history.
In manufacturing companies, the relevancy of pre-emptive budgetary process is significantly impor... more In manufacturing companies, the relevancy of pre-emptive budgetary process is significantly important. It serves as a standard to evaluate the actual result with the objective. Hence, this study examines and establishes modalities of which budgetary process can be used as a tool for profit maximization in a manufacturing company, with a definite reference to Coca-Cola Company. The main hypothesis tested examines the effect of budgetary process on profit maximization of a manufacturing company, (Coca-Cola Company). Data was collected using both Primary and Secondary data. In order to achieve robust findings, a KAP (Knowledge, Attitudes, and Perceptions) quantitative approach was adopted in which questionnaires' survey was administered. The Primary data was collected from the organization's personnel's and stockholders in Coca-Cola Company. The data collected/retrieved through the questionnaires were analyzed using statistical tool: the Statistical Package for Social Scien...
Delays in financial reporting give a negative signal to the market and adversely affect the compa... more Delays in financial reporting give a negative signal to the market and adversely affect the company’s market value. Financial reporting lags raise suspicions among market participants regarding concealment of any potential bad news by a firm, which may affect its share value. Thus, the study investigates the interaction of audit reporting lag and firm value in Nigerian beverage and food companies. Audit delays lead to the late publication of financial statements, enhancing the information asymmetry problem, and affecting firm value. We obtained the data from annual reports of 10 listed companies for five years. The Generalized Method of Moments (GMM) estimation is used to analyze the data. The results suggest that audit delays do not affect the market value of a firm. Previous studies mainly focus on the relationship between corporate governance firm characteristics, and audit reporting lag in Nigeria. To the best of our knowledge, the impact of audit delays on firm value in Nigeria...
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Papers by Lawal B Akeem