“…However, in recent times, the emphasis on the effect has been heightening following spates in institutional accounting frauds and corporate-governance-related scandals (Ewert and Wagenhofer, 2015;Subhrendu and Lan, 2008). There is also emphasis on how corporate governance affects firms' financial performance (Ndjanyou et al, 2015). The failures of several well-known corporate organisations around the world such as Enron (the USA), Balsam (Germany), and Fortune Bank (Nigeria) were all consequences of accounting issues attributed to poor corporate governance mechanisms that negatively influenced the firms' earnings quality and the investors' decision processes.…”