IDEAS home Printed from https://ideas.repec.org/a/ijr/journl/v2y2014i9p387-393.html
   My bibliography  Save this article

The Relevance of Statutory Audit in Evaluating Performance in Nigeria

Author

Listed:
  • Aliu Momodu Muhammed

    (Department of Accountancy, School of Business Studies, Auchi Polyectnic, Auchi, Nigeria)

  • Ehimi Ojemen Celestina

    (Department of Accountancy, School of Business Studies, Auchi Polyectnic, Auchi, Nigeria)

Abstract

This research work examines the relevance of statutory audit in evaluating performance in an organization. The researchers adopted survey research method. Questionnaires were designed and administered. Chi-square (x2) was used to analyze the data and test the hypothesis. From the analysis of data, it was discovered that the charges paid as fees are not adequate; the need for the review of the Act and Auditors to be appointed by the regulatory bodies; and the implication of these findings has resulted to fraud; abuse of office and corruption by the auditors and management of various entities. It also led to lack of confidence and accuracy on the financial report and the problem of independence of the auditors. The researchers recommends the establishment of financial reporting council; the encouragement of joint audit competition and proper training of audit staff. In conclusion, audit committees of public companies in Nigeria must rise to the challenge of strengthening the independence of their auditors.

Suggested Citation

  • Aliu Momodu Muhammed & Ehimi Ojemen Celestina, 2014. "The Relevance of Statutory Audit in Evaluating Performance in Nigeria," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 2(9), pages 387-393, September.
    • Handle: RePEc:ijr:journl:v:2:y:2014:i:9:p:387-393
    as

    Download full text from publisher

    File URL: http://tesdo.org/shared/upload/pdf/papers/IJEER,%202_9_,%20387-393.pdf
    Download Restriction: no
    File URL: http://tesdo.org/journal_detail.php?paper_id=94&expand_year=2014
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Auditing; Audit; Auditor; Audit report; True; Fairview;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ijr:journl:v:2:y:2014:i:9:p:387-393. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Muhammad Shahbaz (PhD Applied Economics) (email available below). General contact details of provider: https://edirc.repec.org/data/tesdopk.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.