Effect of Ownership Structure on Audit Quality of Deposit Money Banks (DMBs) in Nigeria

Abstract

The study examines the effect of ownership structures on audit quality of Nigerian deposit Money Banks, the study primarily examines managerial ownership and institutional ownership; to be précised; on audit quality of the Nigerian Deposit Money Banks. In trying to achieve this, data were extracted from the sample of 10 banks out of the 24 population through Banks Annual Reports and Accounts for the periods 2015 to 2019. The data was empirically tested using OLS regression with the aid of SPSS technique. The study concluded that there is positive significant relationship between institutional shareholding and managerial shareholding with audit quality of the Nigerian Deposit Money Banks. It was therefore recommended that the Nigerian Deposit Money Banks should consider higher percentage of institutional shareholdings and managerial shareholdings in order to improve their monitoring and have better quality of audit.