Audit Committee Attributes and Financial Performance: Evidence from Selected Deposit Money Banks in Nigeria

This study examined the effect of Audit Committee Attributes on Financial Performance listed deposit money banks in Nigeria. Audit committee size, gender diversity and audit committee meeting were proxy for audit committee attributes while financial performance was measured with return on asset. Ex-post facto research design was adopted and secondary data were collected from annual reports and accounts of selected deposit money banks covering ten years from 2014 to 2023. The population of the study comprised of the 15 deposit money banks listed on Nigerian Exchange Group (NGX) as at 31st December, 2023. The study purposively selected ten (10) banks based on the availability of their annual reports. The data collected were analyzed using descriptive statistics, and multiple regressions. The findings revealed that audit committee size has a negative and insignificant effect on return on asset, gender diversity has positive and significant effect on firm performance measured with return on asset, while audit committee meeting exhibit negative and significant effect on return on asset of selected listed deposit money banks. Based on the findings, this study therefore recommended that firm should sustain frequencies of audit committee meetings, so as to ensure that the committee has enough time to take decisions that will enhance financial performance.