RELATIONSHIP BETWEEN AUDITOR’S INDEPENDENCE AND THE CREDIBILITY OF AUDITED FINANCIAL STATEMENTS IN NIGERIA

Ezuwore, Obodoekwe and Agbo, Elias Igwebuike (2020) RELATIONSHIP BETWEEN AUDITOR’S INDEPENDENCE AND THE CREDIBILITY OF AUDITED FINANCIAL STATEMENTS IN NIGERIA. Journal of Accounting Information and Innovation, 6 (9). pp. 26-37. ISSN 3467 – 7038

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Abstract

The purpose of this study is to ascertain the connection between the independence of the external auditor and the credibility of audited financial statements in Nigeria. Specifically, the study seeks to find out (i) if there is a significant relationship between the external auditor’s integrity and the credibility of audited financial statements in Nigeria and(ii) an objective approach to the external audit process is significantly connected with the credibility of audited financial statements in Nigeria. Survey research design was employed while Chi-squared technique was used for analyzing the data. The data used for this work were collected using a well-structured questionnaire collected from 150 users of audited financial statements in Enugu State. The results of the study show that there is a significant relationship between the external auditor’s integrity and the credibility of audited financial statements in Nigeria. The study also finds that an objective approach to the external audit process is significantly connected with the credibility of audited financial statements in Nigeria. It recommends that auditor's independence should be strengthened by taking different measures such as reduction in the tenure of auditors, regular rotation of auditors and appropriate audit fees.

Item Type: Article
Subjects: H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 04 Oct 2021 10:43
Last Modified: 04 Oct 2021 10:43
URI: http://eprints.gouni.edu.ng/id/eprint/3197

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