This research looked at how using smart knowledge techniques affects how well companies in Nigeria present their financial reports. The study analyzed information from 101 companies listed on the Nigerian Stock Exchange between 2011 and 2015. By using a specific statistical method called the Generalised Method of Moments (GMM), the researchers found that financial report quality got much better over time. They discovered that having skilled shareholders on the audit committee and using external audits led to higher-quality financial reports. However, when company insiders had a big say in the audit committee, it sometimes led to shady financial practices. Having institutional investors involved seemed to make the audit committee more effective, especially in cases where insiders had a lot of power. Overall, this research sheds new light on how company insiders and outside oversight impact financial reporting in Nigeria.