Appointment And Dismissal Of Auditors: Implication On auditors Professional Independence (A Study Of Some Selected Audit Firms In Owerri):- Ukariwe Godwin K

ABSTRACT

 This study soughts to identity the determinants of auditor’s independence in selected audit firms in Owerri and determines the .policy implications of lack of auditor’s independence as well. The data from the research was primary and collected via questionnaire from the selected audit firms in Owerri. The questionnaire responses were analyzed using the percentage method. The hypothesis was tested using correlation method .The study revealed that there's needfor audit of managements in Nigeria.; there is objectivity in the appointment of the external auditor for the audit of managements in Nigeria and the independence oj the auditor has a significant impact on the accountability disposition oj managements in Nigeria. It was also found that provision ofother services by the auditor as well as non-rotation ofauditors are some ofthe strong factors, which may negatively impact on the auditor’s independence and objectivity. It was recommended (hat the remuneration of the auditor should be determined by office ofthe Auditor-General for the federation rathef*than by the Head ofmanagements being audited. In addition, more powers!statutory backing! should be given to the external auditor in order to free him from influence or intimidation by the client while the auditor should avoid non-audit services and shouldn 7 be in the audit ofthe clientforlonger thanfouryears