Assessment Of The Role Of External Auditors On Bank Distress In Nigeria (A Study Of Selected Distressed Banks In Nigeria)

AMADI IRONKWA | 59 pages (6837 words) | Projects

ABSTRACT

 This study examined the issue of bank distress and the role of external auditors in Nigeria. Data was collected through questionnaires distribution and statistical tools applied for data analysis were arithmetic mean and chi-square. The findings were that: External auditors still find it difficult to reveal ahy imminent financial collapse in the banks; they do not satisfactorily report fraud, irregularities or any contravention of the banking Acts. However, it was made clear that in as much as the external auditors have the above lapses in performance of the audit function, they should not be held liable for high rate of distress in the banking industry today. It was recommended that: The regulatory authority (CBN) should forge ahead in the on-going reform to tackle distress in the banking sector and look into the ownership structure (Micro-finance banks inclusive). Under no condition should the auditor allow his independence to be impaired. Periodic visits by the external auditors to their clients are necessary and brings about a proper understanding of the activities of the bank. Also internal auditors should maintain a close relationship with statutory auditors for information sharing.

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APA

AMADI, I (2021). Assessment Of The Role Of External Auditors On Bank Distress In Nigeria (A Study Of Selected Distressed Banks In Nigeria). Mouau.afribary.org: Retrieved Nov 28, 2024, from https://repository.mouau.edu.ng/work/view/assessment-of-the-role-of-external-auditors-on-bank-distress-in-nigeria-a-study-of-selected-distressed-banks-in-nigeria-7-2

MLA 8th

IRONKWA, AMADI. "Assessment Of The Role Of External Auditors On Bank Distress In Nigeria (A Study Of Selected Distressed Banks In Nigeria)" Mouau.afribary.org. Mouau.afribary.org, 09 Nov. 2021, https://repository.mouau.edu.ng/work/view/assessment-of-the-role-of-external-auditors-on-bank-distress-in-nigeria-a-study-of-selected-distressed-banks-in-nigeria-7-2. Accessed 28 Nov. 2024.

MLA7

IRONKWA, AMADI. "Assessment Of The Role Of External Auditors On Bank Distress In Nigeria (A Study Of Selected Distressed Banks In Nigeria)". Mouau.afribary.org, Mouau.afribary.org, 09 Nov. 2021. Web. 28 Nov. 2024. < https://repository.mouau.edu.ng/work/view/assessment-of-the-role-of-external-auditors-on-bank-distress-in-nigeria-a-study-of-selected-distressed-banks-in-nigeria-7-2 >.

Chicago

IRONKWA, AMADI. "Assessment Of The Role Of External Auditors On Bank Distress In Nigeria (A Study Of Selected Distressed Banks In Nigeria)" Mouau.afribary.org (2021). Accessed 28 Nov. 2024. https://repository.mouau.edu.ng/work/view/assessment-of-the-role-of-external-auditors-on-bank-distress-in-nigeria-a-study-of-selected-distressed-banks-in-nigeria-7-2

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