BOARD CHARACTERISTICS AND TIMELINESS OF FINANCIAL REPORTS

This study investigates the impact of board characteristics on the timeliness of financial reporting in Nigerian financial firms. The primary objective was to examine how attributes such as board size, independence, gender diversity, foreign experience, and financial expertise influence the speed of financial disclosures. A qualitative research technique was used, including secondary data from firms listed on the Nigerian Stock Exchange over a five-year period. Archival data and previous research were examined to find patterns, and multiple regression analysis was used to assess the correlations between board characteristics and reporting timeliness. The data reveal that board independence and gender diversity improve the timeliness of financial reporting; however board size has no discernible effect. Boards with diverse and independent members were more effective at ensuring timely disclosure, which increased openness, accountability, and stakeholder confidence. Based on these findings, the study suggests that corporations aggressively encourage gender diversity and independence on their boards in order to improve supervision and reporting effectiveness. Regulators should enforce corporate governance norms to support these practices, and board members should get focused training to improve their grasp of reporting requirements and timescales. Increasing nonexecutive participation may help to promote balanced decision-making and overall governance effectiveness, as well as increase compliance with financial reporting standards and encourage confidence among investors and stakeholders.