Timeliness of Financial Reporting in Nigeria

Abstract

This study explored the factors that can influence the timeliness of financial reporting in Nigeria using a sample of 33 financial institutions (2005–2008). The Generalized Least Square (GLS) regression method was used for the estimation and the results reveal that on the average, the sampled companies used 122 days after the year end for the release of their financial reports. The size, leverage and performance of the companies have a negative significant relationship with the timeliness of their financial reports while the age of the company has a positive significant impact. Corporate governance plays a complementary role with some of the explanatory variables to explain financial reporting timeliness in Nigeria.

Key Words:

• Audit report lead time
• corporate governance
• corporate reporting
• financial institutions
• financial report
• financial report timeliness