ABSTRACT

This study review the impact of statutory auditing on the quoted companies, some  special  advantages  inherent  in  the  engagement  of  statutory  auditors  and auditors  contribution  to  management   efficiency.  It  is  evident  that  relationship between the quoted  companies and financial institutions are not very cordial because these organization  still depend largely on personal family as sources of fund.  Against this background, the growth prospects of the quoted companies appear very bleak, especially under the present economic environment.

This  situation ahs given  rise to the  view  among financial  analyst,  that  for companies to achieve improved access to credit facilities, it would be necessary to evolve a more reliable strategy of auditing the account of quoted companies to raise much needed capital for the improvement of such companies.This study evaluates the impact of statutory auditing on the performance of the quoted companies a case study of Afri bank Plc, Umuahia metropolis. The study has been divided into five chapters. The first is the introductory chapter, which deals with the  background  of  the  study,  statement  of  the  problem,  objective  of  the  study, research hypothesis,  scope and limitations  of the  study. The second  chapter deals with the review of related literature by other authors in the area statutory auditing .The third chapter explains the research methodology adopted for the study. Thus a chi-square analysis was used for the test of hypotheses.  The fourth chapter is where  the  data  were  presented,  analyzed  as  well  as  summarizing  of  the  result. Chapter five is the concluding chapter which summarized the work and put forward recommendation that could be adopted by the quoted companies. The survey research was adopted  for this study. The primary  data were procured with interview and questionnaire  techniques,  while the  secondary data were gotten  from the research university.  The research work was successfully carried out and the recommendation put forward of adopted will go a long way in improving the performance of statutory auditing on the quoted companies.

TABLE OF CONTENT

Title page                                                                                                  i

 Project assessment                                                                                   ii-iii 

Declaration                                                                                               iv

 Certification                                                                                             v

 Dedication                                                                                                vi

 Acknowledgement                                                                                     vii 

Table of content                                                                                        viii 

List of Table                                                                                             xi Abstract                                                                                                    xii

CHAPTERONE

1.0      INTRODUCTION                                                                                             1

1.1      BACKGROUND    OF THE  STUDY                                                            1

1.2      STATEMENT   OF PROBLEM                                                                     7

1.3      OBJECTIVE   OF THE  STUDY                                                                    8

  1.4      RESEARCH   QUESTION                                                                              9

1.5      RESEARCH   HYPOTHESIS                                                                          9

1.6      SIGNIFICANCE   OF THE  STUDY                                                             10

1.7      SCOPE  AND LIMITATION   OF THE  STUDY                                        11

1.8      DEFINITION   OF TERMS                                                                            12

CHAPTERTWO

2.0      LITERATURE   REVIEW                                                                               14

2.1         ROLE  OF STOCK  EXCHANGE                                                                  15

2.2       CONCEPT   OF AUDITING                                                                           17

2.3      NATURE   OF STATUTORY   AUDITING                                                 20

2.4       METHOD   OF AUDIT  APPROACH                                                           24

2.5      NATURE   OF AUDIT  ENGAGEMENTS-TYPES      OF AUDIT             23 

2.6 THE NECESSITY OF  STATUTORY AUDITNG 25

2.7 AUDITORS AND THE LAW

2.7.1 Qualification and Disqualification of Auditors

2.7.2 Appointment of an Auditor

2.7.3 Duties of Auditors

2.7.4 Rights, Powers of Statutory Auditor

2.7.5 Remuneration of Auditor

2.7.6 Removal and Dismissal of an Statutory Auditor

2.7.7 Resignation of a Statutory Auditor

2.7.8 Independence of the Statutory Auditor

LIABILITIES OF THE STATUTORY AUDITOR

2.9 THE ROLE OF STATUTORY AUDITORS ON THE PERFORMANCE OF QUOTED CO:MPANIED 32

CHAPTER THREE

3.1 RESEARCH DESIGN

3.2 AREA OF STUDY

3.3 POPULATION OF THE STUDY

3.4 SA:MPLING SIZE AND SA:MPLINGTECHNIQUE.

3.5 METHOD OF DATA COLLECTION.

3.5.1 The primary data:

3.5.2 Secondary Data

3.6 DATA COLLECTION INSTRUMENT

3. 6 .1  Questionnaire.                                                                                          40

3.6.2  Personal Interview 40

3.6.3  Validity and reliability.

3.6.4  Administration of instrument.

3.7     DATA ANALYSIS TECHNIQUE

CHAPTERFOUR

4.0   PRESENTATION AND ANALYSIS OF DATA

4.2   ANALYSIS OF RESEARCH DATA

CHAPTERFIVE

5.0   SUMMARY CONCLUSION AND RCOMMENDATION

5.1    SUMMARY AND FINDINGS

5.2   CONCLUSION

5.3   RECOMMENDATION                                                                          57

5.4   SUGGESTION FOR FURTHER RESEARCH                                     58

REFERENCES

 QUESTIONNAIRE 

APPENDIX