Revolutionizing Audit Quality Process: The Dynamic Influence of Big Data Analytics on the Digital Transformation of Deposit Money Banks in Nigeria

This study investigates the impact of Big Data analytics on audit quality within Nigerian deposit money banks, focusing on risk assessment, fraud detection, predictive analytics, and compliance monitoring. The research method employed in this study is a cross-sectional survey research design. This design involved gathering data through structured questionnaires distributed among auditors and professionals working within Nigerian deposit money banks. The sample size of 384 respondents was determined using the Cochran formula, with participants selected through purposive and simple random sampling techniques. Data collection focused on key dimensions of Big Data analytics and audit quality, including risk assessment, fraud detection, predictive analytics, and compliance monitoring. Statistical analyses, such as descriptive statistics, regression analysis, and Pearson correlation matrix, were then conducted using E-view 10 software to infer relationships between variables and draw conclusions regarding the impact of Big Data analytics on audit quality within the Nigerian banking context.Top of Form The study revealed that big Data analytics, including data volume, velocity, accuracy, and integrity, exhibit significant positive correlations with audit quality metrics such as risk assessment, fraud detection, predictive analytics, and compliance monitoring. Specifically, higher levels of data volume and velocity were found to facilitate more comprehensive data analysis and timely decision-making, contributing to improved audit quality outcomes. Moreover, the study revealed that data accuracy and integrity play crucial roles in enhancing audit quality by ensuring the reliability and trustworthiness of audit findings and financial reporting practices. However, it was noted that variables such as data variety and reliability showed relatively weaker associations with audit quality, indicating the need for further investigation into their specific impacts and mechanisms within the Nigerian banking context. The study emphasizes the transformative potential of Big Data analytics in enhancing audit quality, offering practical, operational, regulatory, academic, and strategic implications for Nigerian deposit money banks. Recommendations include prioritizing investments in data infrastructure, fostering interdisciplinary collaboration, implementing training programs, and developing regulatory guidance for ethical data analytics use in auditing.