AUDIT COMMITTEE ATTRIBUTES,PERFORMANCE,DEPOSIT MONEY BANKS IN NIGERIA

This study empirically examines the impact of audit committee attributes (including a vector of control variables) on the financial performance of Nigerian deposit-taking banks from 2014 to 2020. and Capital Adequacy - CAR). These indicators include audit committee size, audit committee independence, frequency of audit committee meetings, audit committee financial strength, board independence, bank size, and interest rates (deposit bank lending interest rate proxy) were regressed separately. Thirteen listed depository banks were surveyed using descriptive statistics, correlation analysis, pooled OLS, and panel data estimation techniques. Empirical results show that the attributes (characteristics) of audit committees significantly influence the financial performance of Nigerian deposit-taking banks. In particular, the size of the audit committee, the independence of the audit committee, the financial expertise of the audit committee, the frequency of meetings, and the independence of the board (a measure of corporate governance) have a positive and significant impact. increase. About the financial performance of depository banks. Further evidence shows that bank size has a significant positive impact on ROE, but this impact on capital adequacy is positive, albeit weak. Finally, the interest rate variable (a measure of the interest rates that depository banks lend to highly trustworthy customers) is negatively related to financial performance using ROE as a measure, but positively related to financial performance using capital adequacy ratios. there is. Used as a measure of financial position. In light of these findings, it is recommended that sound, robust and efficient audit committee attributes and corporate governance/structures be institutionalized and operationalized to improve the financial performance of Nigerian depository banks.