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A determining factor of investorsâ€™ decision is mostly represented by the auditing of financial statements carried out by a Big4 company, because investors appreciate the quality of the auditing service in terms of image, size and reputation of the auditing firm. This study examines the differential effect of auditor type classified as Single Big4 audit firm; Single Non-Big4 audit firm; and joint audit team of Big4/Non-Big4 audit firms, on the value relevance of earnings and book values of listed firms in Nigeria. A sample of one hundred and seventeen listed (117) firms trading on the floor of Nigerian Stock Exchange from 2009 to 2015 were examined. The study adopted Ohlson model (1995) modified to include auditor type variable and control variables. A simultaneous pooled OLS regression using the Seemingly Unrelated Regression Estimates (SUEST) approach was utilized in running the analysis of all relevant data collected. The findings of the study reveal that while Nigerian investors perceive the earnings of firms audited by a Single Big4 to be of high quality, they seem indifferent as to whether it is audited by a joint audit team of Big4/Non-big4, or a Single Non-Big4 audit firm. The study therefore recommends that investors looking for more value relevant EPS should focus on firms audited by single Big4, since they are more likely to have greater value relevant earnings with stronger positive connection to price.

The Differential Effect Of Auditor Type on the Value Relevance of Earnings and Book Values: Evidence from Listed Firms in Nigeria