Effect Of Information Communication Technology On Audit Quality Of Listed Nigerian Consumer Goods Firms

Abstract his study investigated the effect of information communication technology on audit quality of listed consumer goods firms in Nigeria. The study focused on the effect of hardware and software on audit quality of listed consumer goods firms in Nigeria for a 12 years period spanning from 2011 to 2022. The entire population of the study is 21 listed consumer goods while the sample size of 10 listed consumer goods firms was selected. The study was built on the longitudinal panel research design and employed the use of secondary data which was gathered from the annual financial statements of sample firms. The study employed descriptive statistics, correlation analysis, hausman specification tests, variance inflation factors analysis and regression tests using the E-views 10 software. The study employed discretionary accrual as the proxy for measuring audit quality. The study found that both ICT hardware and ICT software had positive and significant effect on audit quality. The study concluded that ICT was significant in determining audit quality in the consumer goods industry of Nigeria. The study recommended that consumer goods firms should explore and adopt robust audit software solutions that are specifically designed to enhance audit quality. These may include advanced data analytics tools, artificial intelligence (AI)-enabled auditing software, and other technological solutions that can automate routine audit tasks and provide deeper insights into financial data.