Audit Committee Attributes and Sustainability Reporting of Oil and Gas in Nigeria

Abstract

This study investigates the effect of audit committee attributes and sustainability reporting. The study covered the range of nine (9) years period (2014 – 2022). Mainly, secondary data were pooled from annual reports of the sampled companies listed at floor of Nigeria group exchange as at 31st December 2021 financial year end. Data collected were subjected to polled panel regression analysis estimation. The outcome of statistical results, revealed that audit committee size has a negative and significant impact on sustainability reporting; audit committee independence and audit committee meeting have a negative but insignificant impact on sustainability reporting; and audit committee multiple directorship was found to have a positive and significant impact on sustainability reporting. This study, therefore recommends that audit committee size and composition should be established in line with the relevant provisions of the law; a minimum of one audit committee member should have interlocking directorship in order for companies to gain from the extended knowledge wider channel networks and broader experience that these members gain from serving on different board.