Audit report timeliness is a critical aspect of financial reporting in the healthcare sector of the Nigerian Exchange Group. Timely audit reports provide stakeholders with accurate and reliable information about the financial health of healthcare organizations, enabling them to make informed decisions. Audit report timeliness refers to the promptness with which auditors prepare and issue audit reports [1]. Timely audit reports are essential for ensuring the transparency and accountability of healthcare organizations, as they provide stakeholders with up-to-date information on the financial performance and position of the organization. Timely audit reports also help enhance financial statement credibility and build trust among investors, creditors, and other stakeholders [2]. Audit report timeliness is particularly important in the Nigerian Exchange Group's healthcare sector due to the complex nature of healthcare operations and the significant financial resources involved. Healthcare organizations in Nigeria are subject to strict regulatory requirements and reporting standards, which necessitate timely and accurate financial reporting [3].

Timely audit reports enable healthcare organizations to comply with regulatory requirements, demonstrate financial accountability, and maintain the trust of stakeholders. Audit reports ensure transparency, accountability, and regulation compliance in healthcare. Several factors influence the timeliness of audit reports in listed healthcare sectors in the Nigeria exchange group. These include the complexity of the audit, the availability of financial information, the efficiency of the audit process, the competence of auditors, and the level of cooperation from management [4]. Additionally, regulatory requirements and deadlines play a significant role in determining the timeliness of audit reports. Timely audit reports offer several advantages to stakeholders in the healthcare sector.

I. They provide timely and accurate information about healthcare organization's financial performance and compliance, enabling stakeholders to make informed decisions [5].

II. Timely audit reports enhance transparency and accountability in the healthcare sector, fostering stakeholder trust [6].

III. Timely audit reports help healthcare organizations promptly identify and address financial issues, preventing potential risks and liabilities [7].

The determinants of audit report timeliness in listed healthcare sectors in Nigeria exchange groups have significant implications for healthcare organizations, auditors, regulators, and other stakeholders. Healthcare organizations can improve the timeliness of audit reports by ensuring the availability of financial information, streamlining the audit process, and fostering a culture of transparency and accountability [8]. Auditors can enhance the timeliness of audit reports by improving their efficiency, competence, and communication with healthcare organizations. Regulators can enforce deadlines and regulatory requirements to ensure the timely issuance of audit reports. Overall, the timely issuance of audit reports is essential for maintaining trust, transparency, and accountability in the healthcare sector. The determinants of audit report timeliness in listed healthcare sectors in Nigeria's exchange group play a crucial role in ensuring the accuracy, reliability, and transparency of audit reports [9]. By understanding and addressing these determinants, healthcare organizations, auditors, regulators, and other stakeholders can enhance the timeliness of audit reports and promote trust and accountability in the healthcare sector.

Timeliness in the preparation and submission of audit reports is of utmost importance as it allows stakeholders to make informed decisions based on accurate and up-to-date information as follows:

I. Timely audit reports provide management with timely feedback on the effectiveness of internal controls and the organization's overall financial health. This allows management to identify any potential issues or discrepancies early on and take corrective action to prevent further financial losses or regulatory violations [10].

II. Timely audit reports help to instill confidence in stakeholders, including investors, creditors, and regulatory bodies, by demonstrating that the organization is committed to transparency and accountability [11].

III. Timely audit reports are essential for ensuring compliance with regulatory requirements. In the healthcare sector, organizations are subject to many regulations and reporting requirements, including those set forth by government agencies such as the Centers for Medicare and Medicaid Services (CMS) and the Health Insurance Portability and Accountability Act (HIPAA). Timely audit reports help organizations demonstrate compliance with these regulations and avoid potential penalties or legal consequences [12].

IV. Moreover, timely audit reports are essential for facilitating decision-making and strategic planning. By providing accurate and up-to-date financial information, audit reports enable management to make informed decisions about resource allocation, budgeting, and strategic initiatives. Timely audit reports also help organizations identify areas for improvement and implement changes to enhance operational efficiency and effectiveness [13].

Audit report timeliness in the healthcare sector cannot be overstated. Timely audit reports provide management with valuable insights into the organization's financial health, ensure compliance with regulatory requirements, and facilitate decision-making and strategic planning. By prioritizing timeliness in the preparation and submission of audit reports, healthcare organizations can enhance transparency, accountability, and overall performance. Audit report timeliness is a crucial aspect of financial reporting in the healthcare sector of the Nigerian Exchange Group [3]. Healthcare organizations prioritizing timely financial reporting are better positioned to comply with regulatory requirements, demonstrate financial accountability, and maintain the trust of stakeholders [14]. Several factors influence the timeliness of audit reports in the healthcare sector of the Nigerian Exchange Group. These factors are discussed in this study as follows:

Audit report timeliness is a critical aspect of financial reporting in the healthcare sector. Timely audit reports provide stakeholders with accurate and reliable information about the financial health of healthcare organizations, which is essential for making informed decisions. Several determinants, including board size, board composition, audit fee, and audit timeliness, can influence the timeliness of audit reports in the healthcare sector.

I. Board size is one of the key determinants of audit report timeliness in healthcare organizations. Larger boards may have more diverse perspectives and expertise, which can lead to more thorough and efficient oversight of the audit process. Healthcare organizations with larger boards tend to have timelier audit reports compared to those with smaller boards [15].

II. Board composition is another important determinant of audit report timeliness in healthcare. The presence of independent directors on the board can enhance the quality of oversight and governance, leading to timelier audit reports. Healthcare organizations with a higher proportion of independent directors on their boards are more likely to have timely audit reports [16].

III. Audit fees are also a significant determinant of audit report timeliness in the healthcare sector. Higher audit fees may indicate that the audit process is more complex and time-consuming, potentially delaying audit report issuance. Healthcare organizations that pay higher audit fees tend to have timelier audit reports, as auditors may allocate more resources to ensure the timely completion of the audit [17].

IV. Audit timeliness is a crucial determinant of audit report timeliness in the healthcare sector. Organizations prioritizing timely audit process completion are more likely to receive their audit reports promptly. Healthcare organizations that set clear deadlines and expectations for auditors are more likely to have timely audit reports [18].

Board size, board composition, audit fee, and audit timeliness are important determinants of audit report timeliness in the healthcare sector. Healthcare organizations should consider these factors when evaluating their audit processes and strive to enhance the timeliness of their audit reports to provide stakeholders with accurate and reliable financial information.

in the Health Sector

In the healthcare sector, timely audit reports ensure transparency, accountability, and compliance with regulatory requirements [19]. However, failure to meet deadlines for audit report submission can have serious consequences, including financial penalties, reputational damage, and potential legal implications. Therefore, healthcare organizations need to implement effective mitigation strategies to address this issue. Some of the key mitigation strategies against the failure of audit report timeliness in the healthcare sector are:

I. Establish clear and realistic timelines for the audit process: this involves setting specific deadlines for each audit stage, including data collection, analysis, and report preparation. By clearly defining these timelines and ensuring that all stakeholders know their responsibilities, healthcare organizations can minimize the risk of delays in the audit report submission [20].

II. Allocate sufficient resources to the audit process: This includes providing adequate staffing, training, and technology support to ensure the audit is conducted efficiently and effectively. By investing in the necessary resources, healthcare organizations can streamline the audit process and reduce the likelihood of delays in report submission [21].

III. Healthcare organizations can enhance their audit report timeliness by implementing automated tools and software. These tools can help streamline the data collection and analysis process, allowing auditors to quickly identify and address any issues that may arise during the audit [22]. By leveraging technology, healthcare organizations can improve the efficiency of the audit process and ensure timely submission of audit reports. IV. Regular communication and collaboration among audit team members can also help mitigate the risk of delays in audit report submission. By maintaining open lines of communication and sharing updates on the audit progress, team members can identify potential bottlenecks and address them proactively. This collaborative approach can help ensure that the audit process stays on track and that audit reports are submitted on time [23].

Failure to meet deadlines for audit report submission can have serious consequences for healthcare organizations. By implementing effective mitigation strategies, such as establishing clear timelines, allocating sufficient resources, leveraging technology, and promoting communication and collaboration among audit team members, healthcare organizations can minimize the risk of delays in audit report timeliness. Healthcare organizations can uphold their commitment to transparency, accountability, and regulatory compliance by prioritizing timely audit report submissions.

Audit report timeliness is a critical aspect of financial reporting in the healthcare sector. Timely audit reports provide stakeholders with accurate and reliable information about the financial health of healthcare organizations, enabling them to make informed decisions. In this study, the conceptual framework, empirical framework, and theoretical framework will be used to ascertain the results.

I. Conceptual framework: the conceptual framework for audit report timeliness in the healthcare sector is based on the premise that timely audit reports are essential for ensuring transparency and accountability in financial reporting [24]. Timeliness is defined as the speed with which audit reports are prepared and issued after the end of the reporting period. In the healthcare sector, timely audit reports are crucial for ensuring that financial information is accurate and reliable, enabling stakeholders to make informed decisions [25].

II. Empirical framework: the empirical framework for audit report timeliness in the healthcare sector is based on empirical research that examines the factors influencing audit report timeliness [3]. Research has shown that factors such as the complexity of healthcare organizations, the organization's size, the quality of internal controls, and the expertise of auditors can impact audit report timeliness. For example, studies found that larger healthcare organizations tend to have longer audit report timeliness due to the complexity of their financial reporting processes [26].

III. Theoretical framework: the theoretical framework for audit report timeliness in the healthcare sector is based on agency theory, which posits that the relationship between principals (stakeholders) and agents (management) is characterized by information asymmetry [27]. Timely audit reports help to reduce information asymmetry by providing stakeholders with accurate and reliable information about the financial performance of healthcare organizations. This, in turn, helps to align the interests of principals and agents and promote accountability and transparency in financial reporting.

The conceptual, empirical, and theoretical frameworks for audit report timeliness in the healthcare sector provide a comprehensive understanding of the factors influencing audit timeliness and the importance of timely audit reports in ensuring transparency and accountability in financial reporting. By examining these frameworks, healthcare organizations can identify ways to improve audit report timeliness and enhance the quality of financial reporting in the healthcare sector.

The company's audited report for 2014-2023 provides valuable insights into its financial performance and overall business operations. This report is crucial for investors, stakeholders, and analysts to assess the company's growth prospects and financial stability. The audited report of Ekocorp plc. for 2014-2023 revealed a variable composition in its financial statements. The company's revenue, profit margins, and expenses have fluctuated over the years, reflecting the dynamic nature of the environmental services industry. The audit timeliness for 2014 was 86 days, while the total assets for the year were 2.343.859.814. For the fiscal year 2015, audit timeliness took 84 days, while the total assets grew to 3.662.008.975. This variability can be attributed to market demand changes, regulatory environment, and competitive landscape.

The company's audited report of Fidson Plc from 2014 to 2023 provides valuable insights into its financial performance and strategic direction. The report reveals a consistent pattern of revenue growth, driven by the company's strong product portfolio and market expansion strategies. The growth pattern is consistent, as observed in Table 2. The audit timeliness for 2014 was 88 days, and the total asset was 15,772,494, while it also took 88 days, and the total asset increased to 61.199.126. The company has successfully diversified its product offerings to cater to a wide range of therapeutic areas, including cardiovascular, anti-infective, and central nervous system drugs. This diversification has helped Fidson Plc. to mitigate risks associated with fluctuations in demand for specific products and enhance its overall revenue stability. In addition to revenue growth, Fidson Plc.'s audited reports highlight the company's commitment to cost management and operational efficiency in addition to revenue growth. The company has implemented several cost-saving initiatives, such as streamlining its supply chain and optimizing its production processes, to improve its profitability margins. These efforts have enabled Fidson Plc. to maintain a healthy bottom line and generate sustainable returns for its shareholders.

May and Baker Plc's audited report for 2014-2023 reveals a variable composition of financial performance indicators, which have significant implications for the company's future growth and sustainability. The audit timeliness for 2014 was 81 days with a total asset of 8.095.707, while that of 2023 was 88 days with a total asset of 20,382,336, as observed from Table 3. One of the key variables in the audited report is the company's revenue growth over the past decade. The report shows that May and Baker plc. has experienced steady revenue growth during this period, with an average annual growth rate of 5%. This indicates that the company has effectively marketed and sold its products, resulting in increased sales and profitability. Another important variable in the audited report is the company's profit margin. The report shows that May and Baker plc. has maintained a healthy profit margin over the past decade, averaging around 15%. This indicates that the company has effectively managed its costs and expenses, resulting in strong profitability and financial stability.

Me Cure Industries Plc's audited report for 2014-2023 provides valuable insights into its financial performance and strategic direction. The audited report for Me Cure Industries PLC for 2014-2023 highlights the company's strong financial performance and growth trajectory, as observed in Table 4. The company has consistently reported increasing revenues and profits, reflecting its successful business model and market positioning. This clearly indicates the company's ability to effectively navigate the competitive healthcare industry in Nigeria and capitalize on growth opportunities. One key advantage of Me Cure Industries PLC's audited report is the company's commitment to innovation and investment in new technologies. The company has consistently invested in state-of-the-art medical equipment and facilities, enabling it to offer cutting-edge medical services to its customers. This strategic focus on innovation has helped Me Cure Industries PLC differentiate itself from competitors and maintain its leadership position in the market.

The audited report for Morison Industries PLC for 2014-2023 highlights the company's steady growth and profitability over the years, as observed in Table 5. The report shows that the company has consistently increased its revenue and net income, demonstrating its ability to manage its operations and capitalize on market opportunities effectively. This is a positive sign for investors and stakeholders, indicating that Morison Industries PLC is financially stable and well-managed. One key significance of the audited report is that it provides transparency and accountability to shareholders and other stakeholders. By presenting a detailed and accurate account of the company's financial performance, the report helps investors make informed decisions about their investments in Morison Industries PLC. It also helps build trust and confidence in the company's management team, as they can demonstrate their commitment to good corporate governance practices.

The audited reports of Neimeth International Pharmaceutical Plc from 2014 to 2023 offer a comprehensive overview of the company's financial health and performance. These reports include detailed information on the company's revenue, expenses, profits, assets, liabilities, and cash flows as shown in Table 5. They also provide insights into the company's operational efficiency, profitability, and liquidity. The significance of Neimeth International Pharmaceutical Plc's audited reports lies in enhancing company transparency, accountability, and trust. The company publishes these reports annually and demonstrates its commitment to good corporate governance practices and financial disclosure. This transparency helps build investors' confidence, attract capital, and maintain a positive reputation in the market. Moreover, the audited reports serve as a valuable tool for benchmarking the company's performance against industry peers and tracking its progress over time. Investors, analysts, and other stakeholders can assess the company's financial strength, stability, and growth prospects by analyzing these reports.

Pharma Deko plc's audited report for 2014-2023 provides a comprehensive overview of the company's financial performance, including revenue, expenses, profits, and cash flows. It also includes information on the company's assets, liabilities, and equity, as well as key financial ratios and indicators, as shown in Table 7. The report also contains a detailed analysis of the company's operations, including its production, distribution, marketing, and sales activities. One of the key significance of Pharma Deko plc's audited report is that it provides stakeholders, including investors, analysts, regulators, and the general public, with a transparent and reliable source of information about the company's financial health and performance. The audited report is prepared following international accounting standards and is subject to external audit by independent auditors, ensuring its accuracy and reliability. The audited report also has important implications for Pharma Deko plc and its stakeholders. For the company, the report serves as a tool for evaluating its financial performance, identifying areas of strength and weakness, and making informed decisions about its future strategy and direction. The report provides valuable information for investors to assess the company's investment potential and make investment decisions. Regulators use the audited report to monitor the company's compliance with financial reporting requirements and to ensure transparency and accountability.

This study has investigated the determinants of audit report timeliness in the listed healthcare sectors in the Nigeria Exchange Group. It has identified various factors that influence the timeliness of audit reports, including firm size, audit firm size, audit committee effectiveness, and financial performance. Some of the key findings from this study are outlined below:

I. Firm size: this has a significant impact on audit report timeliness. Larger healthcare organizations tend to have more complex financial reporting requirements and may require more time to prepare and finalize their audit reports. As a result, larger firms may experience delays in issuing their audit reports compared to smaller organizations.

II. The size of the audit firm: this study revealed that healthcare organizations audited by larger audit firms tend to have timelier audit reports compared to those audited by smaller firms. This is likely due to the resources and expertise available at larger audit firms, which enable them to complete the audit process more efficiently. III. The audit committee's effectiveness: this has also been identified as a significant factor influencing audit report timeliness in the healthcare sector. This study indicated that organizations with more independent and experienced audit committees tend to have timelier audit reports. This is because effective audit committees can provide oversight and guidance to management and auditors, ensuring that the audit process is conducted promptly and efficiently.

IV. Financial performance: this has been found to be a determinant of audit report timeliness in the healthcare sector. Organizations with stronger financial performance tend to have timelier audit reports, as they may have better internal controls and financial reporting processes. On the other hand, organizations with weaker financial performance may experience delays in the audit process due to issues such as financial restatements or audit adjustments.

The determinants of audit report timeliness in the listed healthcare sectors in Nigeria Exchange Group are multifaceted and complex. Firm size, audit firm size, audit committee effectiveness, and financial performance all play a role in influencing the timeliness of audit reports. By understanding these determinants, healthcare organizations can take proactive measures to improve the timeliness of their audit reports and enhance transparency and accountability in financial reporting.

Timely submission of audit reports is crucial for maintaining trust and credibility in the healthcare sector. Delays in submitting reports can have serious consequences, including financial penalties, reputational damage, and loss of investor confidence. Healthcare organizations must prioritize timely reporting and invest in resources and processes to ensure that audit reports are prepared and submitted in a timely manner. Regulators can use the findings of this study to develop policies and guidelines that promote timely audit report issuance in the healthcare sector, ultimately enhancing transparency and accountability in financial reporting. Healthcare organizations can improve transparency, accountability and overall financial performance by addressing the challenges and barriers to timeliness. Finally, investors can use this information to make more informed decisions about investing in healthcare firms, considering the timeliness and reliability of their audit reports.