Does Sustainability Auditing Lead to Enhanced Corporate Governance, Environmental Performance, and Financial Outcomes? Empirical Evidence From High‐Impact Industries
研究调查了尼日利亚和加纳550家高影响行业企业，发现内部可持续性审计提升环境绩效和公司治理，外部审计则改善财务绩效和长期价值，且存在国别和行业差异。
ABSTRACT This study employs hierarchical regression modelling on a survey of 550 firms from Nigeria and Ghana to examine the impact of sustainability auditing on corporate governance, environmental performance, and financial outcomes of high‐impact industries. Our findings reveal that internal sustainability auditing significantly enhances environmental performance, regulatory compliance, corporate governance transparency, and accountability. Additionally, external sustainability auditing positively influences firms' financial performance and long‐term value. Notably, we identify cross‐country variations: Internal sustainability auditing has a stronger effect on environmental performance and corporate governance in Ghana, whereas external audits exhibit a greater impact on financial performance and long‐term firm value in Nigeria. Moreover, industry‐specific insights indicate that internal audits are particularly influential in improving environmental performance within the mining sector while they play a critical role in strengthening corporate governance within the oil and gas industry. The study underscores the importance of sustainability auditing in corporate governance frameworks for promoting environmental and financial sustainability in high‐impact industries, providing valuable insights for policymakers and corporate leaders.