This study investigates the effect of audit risk on the faithful representation of financial reports in quoted manufacturing firms in Nigeria, utilizing a quasiexperimental survey design. The research focused on firms listed under the Consumer Goods and Industrial Goods sectors of the Nigerian Exchange Group (NGX), encompassing 21 firms. Data were collected via structured questionnaires assessing three components of audit risk- Inherent Risk, Control Risk, and Detection Risk along with faithful representations of financial report. Descriptive and inferential statistics were used to analyze the data. The results show that while Inherent Risk had no significant impact, Control Risk negatively affected faithful representation, and Detection Risk had a positive and significant influence. The study highlights the importance of effective internal controls and rigorous audit procedures in enhancing the reliability of financial reports. It recommends improvements in internal control systems, audit procedures, and regulatory oversight to ensure the accuracy and credibility of financial statements in the Nigerian manufacturing sector.