AUDIT COMMITEE AND FINANCIAL PERFORMANCE OF LISTED REAL ESTATE COMPANIES IN NIGERIAN
Keywords:Audit Committee, Financial Performance, Real Estate
This study examined the relationship between audit committee and financial performance of listed construction and real estate companies in Nigeria. The ex post facto research design was adopted for the study with a population of six (6) listed construction and real estate companies in Nigeria as listed by the Nigerian Exchange Group in 2022. Data were retrieved from the annual reports of the selected construction and real estate companies for the period 2017 to 2021. Multiple regression analysis was used to analyzed the data gathered with the aid of Stata12 statistical software. The study revealed a negative and insignificant relationship between audit committee and net profit margin.. The study concluded that corporate governance has no significant relationship with financial performance of listed construction and real estate companies in Nigeria. The study recommended that audit committees of listed construction and real estate companies should be proactive in ensuring full compliance to corporate governance code 2018 for enhance financial performance. More financially literate board should be advocated for than the size of the board as this study revealed that board size has a positive but insignificant effect on financial performance. Finally, the independent directors should not only be increase but be made of directors that can provide necessary information to outsiders such as key stakeholders. As such, reducing the information asymmetry gap among insider and outsider.