Boards

Corporate Governance Structure and Timeliness of Financial Reports of Quoted Firms in Nigeria (Review Completed - Accepted)

This paper examines the impact of corporate governance on the timeliness of financial statements of quoted firms in Nigeria. To achieve this objective, data was collected from books, financial statements and journals. The data collected were analysed using relevant diagnostics tests, granger causality and multiple regression models. The result revealed a significant relationship between board independence and timeliness of financial reports; board size and timeliness of financial reports; board expertise and knowledge and timeliness of financial reports; board experience and timeliness of financial reports; also no significant relationship between CEO duality and timeliness of financial reports and board meetings and timeliness of financial reports. On the basis of the empirical result, the paper concludes that the application of appropriate corporate governance factors will go a long way to improve the timeliness of financial reports and quality financial statements Therefore, on the basis of the findings and conclusions of the study, we recommends that quoted companies should ensure that corporate governance codes are used in the day-to-day operations of corporation to achieve short, medium and long-term goals; government should ensure that regulatory agencies monitor the activities of corporations to ensure compliance with best practice. Also above all integrity, objectivity and fairness must be applied in the conduct of corporate business for financial statement needs be achieved for users

Keywords: Boards, Corporate Governance, Financial Report, Nigeria, Timeliness