Repositioning the Audit Committee as an Effective Watchdog in Corporate Governance in Nigeria

Audit committees play very important roles in financial aspects of governance as they help ensure audit quality while at the same time protecting the interest of investors. This paper attempts an x-ray of the factors that tend to diminish the importance of Audit Committees in corporate governance in Nigeria. In doing this, reliance is placed on extensive review of local and international literature. we discover that the apparent lack of effectiveness of Audit committees in Nigeria is a shared responsibility. We recommend holistic solutions that will restore audit committees to their pride of place in corporate governance in Nigeria