ABSTRACT

This study is intended to find out the impact of legal audit requirements on the auditor performance in Nigerian context specifically. The literature review described the various audit requirements in conjunction with the proiesional standards and how they are applied to secure the auditor competence an independence that are vital to the auditors if they are to effectively execute their responsibilities to their clients. The arrangement of this topic discussed in reviewing the literature was designed to support the hypotheses which form the basis of the study. This paper therefore evaluates the relevance of the audit committee on corporate performance. Data were obtained from the annual accounts and reports of the twenty (20) quoted companies that made up the sample of the study and the International Accounting Standard 5. The time frame for this work is one year, covering the period of 2014 to 2015. The technique of analysis used in the study was the Chi-square Analysis. The study established that there is no significant relationship between firms' scores and auditors' rank. I'his conclusion implied that auditor's reputation does not affect the compliance level of' the companies. The study recommended an effective monitoring/supervision and enforcement of the provisions of the Statement of lAS 5, in addition to effective implementation of the penalties provided by the Act on non-compliers regardless of their status or origin.