Department of Accounting

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    DETERMINANTS OF PROVISION OF NON-AUDIT SERVICE IN SELECTED LISTED INSURANCE FIRMS IN NIGERIA
    (Seybold Publications, 2024-01-18) Sanni, Micheal Rotimi
    Various factors influence accounting companies' supply of Non-Audit Services (NAS) beyond routine audits. Internal controls, risk assessment, and customized guidance for risks unique to the insurance business are all covered by NAS to improve risk management in insurance organizations. This study used financial data to assess NAS variables in ten listed insurance businesses in Nigeria. Significant NAS factors, such as audit fee, auditor firm size, cash flow, and auditor tenure, were found by regression analysis. The study stresses the need of preserving auditor independence and integrity and recommends that giving priority to these factors is essential.
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    Board gender diversity and corporate social responsbility
    (2023-10-20) Sanni, Micheal Rotimi
    While board gender diversity (BGD) and corporate social responsibility (CSR) have become topics of global interest among practitioners, regulators, and academicians, most existing studies, particularly on Nigerian banks, have majorly concentrated on the effect of BGD on financial performance. It has also been observed that the few studies on banks have mostly viewed the nexus from a static perspective. To the best of our knowledge, there is no study that has used dynamic data analysis approach involving generalized method of moment (GMM) on BGD and CSR nexus of Nigerian banks. To this extent, this study aims to examine the effect of BGD on CSR of 12 listed deposit money banks in Nigeria from 2012 to 2021 using dynamic analysis involving GMM. The study is anchored on three theories, which are stakeholders’ theory, legitimacy theory and gender socialization theory. Findings show that BGD has no significant positive effect on CSR, implying that BGD does not affect firm commitment to CSR endeavors. The study recommends that more women should be appointed to the boardroom and given equal opportunities as their male counterparts in corporate and strategic decision-making so as to foster good relationship with stakeholders. The outcome of our study is of significant relevance to bank stakeholders such as managers, regulators, policymakers and academician on the need for more women's representation and participation in corporate and strategic decision-making.
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    Influence of International Financial Reporting Standards on Share Prices of Nigerian Quoted Oil and Gas Firms
    (UNIOSUN International Journal of Accounting and Finance, 2019) Sanni, Micheal Rotimi
    This paper examined the influence of IFRS on share prices of Nigerian quoted Oil and Gas firms after the adoption of the standards in 2012. Paired sample t-test statistics was used to analyse the share prices of eight out of the twelve quoted Nigerian Oil and Gas firms for three years (2009-2011) pre-IFRS adoption period and three years (2012-2014) post IFRS adoption period. Findings showed that the share prices declined marginally by 1.78% during the six-year period and that the decline is not statistically significant (p=0.924) at 0.5 significant level. There is a positive (0.638) and significant (p=0.001) correlation between share prices in the two periods. These findings are consistent with existing studies which posit that the mere adoption of IFRS does not necessarily translate into improvement in the quality of financial reports and share price increase in the short run as other factors outside the adoption of the standards equally affect share prices. The study therefore recommends the use of appropriate discretions by management and provision of enabling environment by government for the full benefits of the adoption of the standards to be reaped.
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    International Public Sector Accounting Standards and Deterrent of Corrupt Practices in the Public Sector of Ogun State Nigeria
    (Journal of Accounting and Financial Management, 2023) Sanni, Micheal Rotimi
    International Public Sector Accounting Standards (IPSAS) are expected to enhance transparency and accountability and deter corrupt practices in public sector. This study investigated the extent to which the implementation of the standards deters corrupt practices in Ogun State, Nigeria. The study adopted survey research design using questionnaire for its primary data obtained from staff in selected Ministries Departments and Agencies (MDAs) in Ogun state, Nigeria. The selected MDAs are: The Federal University of Agriculture, Abeokuta; Federal College of Education, Osiele, Abeokuta; Ogun-Oshun River Basin Development Authority, Abeokuta, and Federal Medical Centre, Abeokuta. Ogun State was chosen because of ease of access and because the state combines the features of an industrial state with those of civil service state. The sample size is 600 accounting staffers and lecturers that cut across the MDAs. Results of regression equation revealed that the standards exert positive and significant effect on deterring corrupt practices with probability values of 0.000. This study observed that the adoption of the standards alone cannot totally curb corruption in Nigeria. Constant staff trainings, political will to bring corrupt officials to book and proper use of discretionary measures in the standards are therefore strongly recommended by this study.
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    Adoption of International Financial Reporting Standards and Financial Performance of Quoted Firms in the Brewery Industry in Nigeria
    (Ibadan Planning Journal, A Publication of Department of Urban and Regional Planning, Faculty of the Social Sciences, 2017) Sanni, Micheal Rotimi
    International Financial Accounting Standards (IFRS) become mandatory in Nigeria in 2012. This paper evaluated the adoption of IFRS on the financial performance of Nigerian quoted brewery firms. Data were sourced from published financial statements of two leading firms that control 92% of brewery market on profitability ratios proxy with Return on Assets (ROA) and Return on Equity (ROE) for eight year period (2008-2015). Paired sample t-test statistics was used to analyse the fours year pre- -IFRS adoption period (2008-2011) and four years post-IFRS adoption period (2012-2014). The results of the analysis showed that ROA reduced significantly by 0.18$75 after the adoption of IFRS (p= -0.0000), ROE also reduced significantly by 0.2300 (p = 6010). While the findings contradict some existing works, they confirm others. The reduced profitability cannot solely be attributed to adoption of FRS as profitability gradually reduced during the pre-IFRS adoption period. The harsh economic challenges faced by the country in the last few years can as well be responsible.