Enhancing the Effectiveness of Audit Committee in Nigerian Manufacturing Companies
Journal of Policy and Development Studies, Vol. 4, No. 2, November 2010
15 Pages Posted: 7 Apr 2011
Date Written: November 1, 2010
Abstract
This study investigated the effectiveness of audit committees in Nigerian manufacturing companies. To achieve this purpose, research questions were raised and relevant literature was reviewed. The population of the study consisted of those manufacturing companies operating in Rivers State of Nigeria. In order to collect the necessary data, a questionnaire was administered on thirty-six (36) chief executive officers of the companies. The data generated from the study were analysed using the mean scores. Our findings revealed that audit committee strongly improves the effectiveness of internal and external auditors, but several factors hinder the effectiveness of the audit committees in executing their responsibilities of enhancing accounting and auditing functions. Based on the above, it was recommended among others that code of best practices should be made for audit committee's effectiveness.
Keywords: Audit Committee, Manufacturing Companies
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