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 professional

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. This

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.