Effect of Audit Independence on Audit Quality: Evidence from Nigerian Agricultural Firms

The study determined effect of audit independence on audit quality in Nigerian agricultural firms, using audit committee independence and audit tenure as independent variables, while audit firm reputation represent dependent variable of Nigerian agricultural firms. Ex post facto research design and content analysis were employed by the study. Data were extracted from annual reports and accounts of the sampled agricultural firms. The study employed multiple regression analysis to test the hypotheses. Based on the results, the study found that audit committee independence has a positive and insignificant effect on audit quality of agricultural firms in Nigeria. Also, the study upholds that audit tenure has a negative significant effect on audit quality of agricultural firms in Nigeria. Based on the findings, the study recommended, among others, that firms need to ensure that every audited report must be reviewed by the audit committees to confirm that the procedure for auditing complies fully with all applicable laws and guidelines regarding planning and presenting of the financial statement is adhered to.