The Impact of Corporate Governance on Financial Reporting Quality: A Case Study of Dangote Cement Plc
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Background of the Study
Corporate governance is a system of rules, practices, and processes by which a company is directed and controlled. It ensures transparency, accountability, and fairness in financial reporting, ultimately enhancing stakeholder confidence (Adewumi & Eze, 2023). Strong corporate governance structures are essential for high-quality financial reporting, as they mitigate risks of manipulation and misrepresentation.
Dangote Cement Plc, one of Nigeria’s leading corporations, exemplifies a company that has implemented robust corporate governance measures. However, the effectiveness of these measures in ensuring financial reporting quality remains a critical area of investigation. Recent corporate scandals in Nigeria have highlighted the importance of governance structures in maintaining the integrity of financial statements (Okoro & Adigun, 2024).
This study explores the impact of corporate governance on financial reporting quality, focusing on the governance practices of Dangote Cement Plc.
Statement of the Problem
The quality of financial reporting in Nigeria has come under scrutiny due to cases of financial misstatements and fraud. Weak corporate governance practices, including inadequate board oversight and ineffective internal controls, have been identified as contributing factors (Olatunde & Akintola, 2024).
While Dangote Cement Plc is known for its adherence to corporate governance standards, there is limited empirical evidence on the direct relationship between its governance structures and financial reporting quality. This study seeks to address this gap by evaluating how corporate governance influences the accuracy, reliability, and transparency of financial reports at Dangote Cement Plc.
Objectives of the Study
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To examine the relationship between corporate governance and financial reporting quality at Dangote Cement Plc.
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To identify governance practices that enhance financial reporting quality.
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To evaluate the challenges in implementing effective corporate governance at Dangote Cement Plc.
Research Questions
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What is the relationship between corporate governance and financial reporting quality at Dangote Cement Plc?
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What governance practices enhance financial reporting quality at Dangote Cement Plc?
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What challenges are associated with implementing effective corporate governance at Dangote Cement Plc?
Research Hypotheses
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Corporate governance does not significantly influence financial reporting quality at Dangote Cement Plc.
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Governance practices do not significantly enhance financial reporting quality at Dangote Cement Plc.
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Challenges in implementing corporate governance do not significantly affect financial reporting quality at Dangote Cement Plc.
Scope and Limitations of the Study
The study focuses on the impact of corporate governance on financial reporting quality at Dangote Cement Plc from 2015 to 2024. While the findings provide insights into governance practices in a large corporation, they may not be generalizable to smaller firms or other industries. Limitations include reliance on secondary data and potential bias in self-reported governance practices.
Definitions of Terms
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Corporate Governance: The framework of rules and practices by which a company ensures accountability, fairness, and transparency in its relationship with stakeholders.
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Financial Reporting Quality: The accuracy, reliability, and transparency of financial statements provided by a company.
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Board Oversight: The role of a company’s board of directors in monitoring and guiding management to ensure compliance and performance.
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