AUDIT COMMITTEE ATTRIBUTE: AN IMPACT ANALYSIS OF CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE PRACTICES FOR DEPOSIT MONEY BANKS IN NIGERIA

Mohammed Kayode Ajape; Kayode Oyewale; Abiodun Rebecca Adubu

Mohammed Kayode Ajape Department of Accounting, University of Lagos, Lagos Nigeria
Kayode Oyewale Department of Finance, University of Lagos, Lagos Nigeria
Abiodun Rebecca Adubu Department of Accounting, University of Lagos, Lagos Nigeria

Keywords: Deposit Money Banks (DMBs), Audit Committee Attributes, Corporate Social Responsibility (CSR)

Abstract

This Paper examines the influence of audit committee characteristics on corporate social responsibility (CSR) disclosure practices in listed deposit money banks (DMBs) in Nigeria. The study is underpinned by the agency and legitimacy theories. Correlational research design was employed and the fourteen DMBs listed on the Nigeria Exchange Group (NGX) as at the end of year 2020 constituted the population. Ten DMBs were purposively selected for a period spanning 2016-2020. Statistical analyses were done on the collected data by employing descriptive statistics, correlation and regression statistical tools. The findings revealed that audit committee attributes do not significantly relate with CSR disclosure practices of the Nigerian DMBs. Therefore, this study recommended encouragement by policy-makers of the institution of audit committee with effective and efficient characteristics capable of influencing both the mandatory and voluntary disclosures in order to deepen the integrity of financial and non-financial reporting of Nigerian DMBs.