'Journal Of Accounting Finance And Auditing Studies (JAFAS)'
Doi
Abstract
Purpose: This study is to examine the private sector demand
for CFOs with certain professional accountancy bodies’
qualification in Nigeria’s listed companies from 2012 to 2018,
inclusive.Design/methodology/approach: The population of this
study comprises non-financial services companies quoted on
the Nigerian Stock Exchange. Purposive sampling method was
used to select the 49 sample used for the research. Research
data were tested using non-parametric statistics and simple
regression model.Findings: Results from non-parametric statistics suggest that
89% of all CFOs are ICAN qualified; about 98% of the Nigerian
CFOs are ICAN qualified while about 13% of the foreign CFOs
hold the ICAN qualification. The evidence further suggests that
the ICAN qualification is statistically different from that of
non-ICAN qualification. Finally, the evidence indicates that
CFOs’ nationalities positively and significantly influence their
affiliations.Practical Implications: The paper recommends that ICAN
should be empowered to regulate the accountancy profession
in Nigeria. In the alternative there should be created a
consortium of accountancy bodies to regulate the accountancy
profession in Nigeria.Originality/value: This is the first empirical paper to
examine the demand for CFOs in private listed companies in
Nigeria, and the first to link CFOs nationalities and CFOs
affiliations with professional accountancy bodies in Nigeria.peer-reviewe