Audit Attributes and Sustainability Disclosure of Listed Oil and Gas Firms in Nigeria

Abstract

The results of most Sustainability Reporting and audit attributes studies are either inconclusive or contradictory, reporting positive or sometimes negative results. Moreover, most of these studies were conducted in developed countries with properly enacted environmental and social laws which are not the case in Nigeria. The research assesses the impact of audit attributes on sustainability disclosure of listed oil and gas firms on the Nigerian stock exchange (2010 – 2019). The contents analysis method was used for data gathering and regression analysis was employed for secondary data analysis. The results of the findings indicated that Audit committee size and Audit committee independence have a positive influence on sustainability disclosure. Audit firm size and Auditor remuneration, however, have a negative influence on sustainability disclosure. The study recommended that there should be in place harmonized sustainability disclosure standards. The Nigeria Stock Exchange should include enhancement of audit attributes to include more non-executive independent directors managing the companies for the owners. Furthermore, a better-enhanced medium of communicating oil and gas firms’ activities within the industry should be devised by regulators of businesses in Nigeria.