FINANCIAL REPORTING

The adoption of Financial Technology (FinTech) has significantly transformed financial reporting, enhancing accuracy, transparency, efficiency, and compliance. This study examines the impact of FinTech innovations, digital payment systems, blockchain technology, and automated accounting software on financial reporting quality in
Nigerian businesses. A descriptive survey research design was employed, targeting financial professionals, auditors, and business owners within Nigeria. A sample of 363 respondents was determined using Taro Yamane’s formula and selected through a simple random sampling technique. Data were collected using structured questionnaires and analysed using multiple linear regression to assess the relationship between FinTech adoption and financial reporting quality. The findings reveal that digital payment systems improve the timeliness of financial reporting by streamlining transaction processing and integration into reporting frameworks. Blockchain technology enhances transparency and security by ensuring immutable and verifiable financial records. Automated accounting software contributes to reporting efficiency and compliance by minimizing human errors
and automating regulatory adherence. The regression analysis (R² = 0.441) confirms that FinTech adoption significantly influences financial reporting quality, explaining 44.1% of the variation in reporting outcomes. The study recommends stronger regulatory frameworks, increased cybersecurity investments, and enhanced digital literacy for financial professionals to maximize the benefits of FinTech in financial reporting. Future research should explore the role of artificial intelligence in financial fraud detection and conduct comparative studies on FinTech adoption across different business sizes.

This study examined the impact of audit committee effectiveness on financial reporting quality among one hundred (100) Nigerian listed companies from 2019 to 2024. Despite governance reforms under CAMA (2020) and the NCCG (2018), concerns remain about earnings management and reporting credibility. The study analyzed audit committee attributes, independence, financial expertise, size, meeting frequency, and committee effectiveness, using a quantitative panel design and fixed-effects regression. Financial reporting quality was measured using a composite index covering accrual quality, timeliness, audit opinion quality, and disclosure compliance. Results show that independence, financial expertise, meeting frequency, and committee effectiveness significantly improve financial reporting quality, with financial expertise being the strongest predictor. Audit committee size was not significant. Among control variables, company size and committee independence positively affect reporting quality, while leverage has a negative effect. The study concludes that competence and active engagement enhance governance effectiveness more than structural compliance and recommends strengthening expertise, independence, meeting practices, etc.