IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

An examination into the Quality of Audited Financial Statements of Money Deposit Banks in Nigeria

Listed author(s):
  • Kabiru I. Dandago


  • Abdullahi Sani Rufai


Registered author(s):

    Audit quality is often related to the competence and independence of auditors as being able to detect material misstatements and being prepared to issue appropriate audit reports to reflect their findings. This study aims at assessing the quality of audited financial statements of money deposit Banks in Nigeria, with a view to assessing the independence of an auditor and the level of compliance to audit guidelines and how those guidelines affect the quality of audited financial statements of money deposit Banks in Nigeria. The study employs the use of both primary and secondary sources of data where questionnaire is the primary source and the annual reports of selected Banks are the secondary data. A judgmental sampling technique was used in selecting the sample size. Simple percentage was used for data analysis, while analysis of variance (ANOVA) was employed to test the hypotheses. The study concludes that consistency and reliability can be absolutely achieved if external auditors are independently auditing financial statements of Money Deposit Banks based purely on the established auditing standards and guidelines. The study recommends that audit committees of Money deposit Banks should be more strict in their investigations and should initiate moves for the suing of auditors where they are found wanting.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    Article provided by Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences in its journal International Journal of Academic Research in Accounting, Finance and Management Sciences.

    Volume (Year): 4 (2014)
    Issue (Month): 1 (January)
    Pages: 145-156

    in new window

    Handle: RePEc:hur:ijaraf:v:4:y:2014:i:1:p:145-156
    Contact details of provider: Web page:

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    in new window

    1. Clarkson, Peter M. & Simunic, Dan A., 1994. "The association between audit quality, retained ownership, and firm-specific risk in U.S. vs. Canadian IPO markets," Journal of Accounting and Economics, Elsevier, vol. 17(1-2), pages 207-228, January.
    2. Jerry Sun, 2011. "Client-specific litigation risk and audit quality differentiation," Managerial Auditing Journal, Emerald Group Publishing, vol. 26(4), pages 300-316, April.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hur:ijaraf:v:4:y:2014:i:1:p:145-156. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hassan Danial Aslam)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.