Effect of Audit Report on Financial Performance of Deposit Money Banks in Nigeria:- Ugwunna Maryjane C

ABSTRACT

The recent financial crisis in the financial sector has not only revealed weaknesses in risk management, control and governance processes at banks, but also highlighted the need to improve the audits control and records in deposit money banks. Given the central role banking institutions play in contributing to financial stability, the need for market confidence in the accurate audits report of banks' financial statements becomes paramount in strengthening the financial performance and return on investment (Bellesta& Meca. 2016). An auditor's report is a statement included in a company's annual financial report that certifies the validity of a company's financial statements according to an outside auditor. An audit report is ar appraisal ofan organizational complete financial status. As stated by Independent Accounting Profession (IAP, 2014). audit report is a document which covers company's assets and liabilities, and presents assessment ofthe firm's financial position and future.