The Impact of COVID-19 on Audit Practices in Nigeria: A Case Study of KPMG Nigeria
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
The COVID-19 pandemic has disrupted business operations globally, including the auditing profession. Lockdowns, social distancing mandates, and travel restrictions necessitated significant changes in how audits are conducted, introducing challenges and opportunities for audit firms. In Nigeria, these disruptions highlighted the need for agility and innovation in audit practices to maintain financial reporting quality and regulatory compliance.
KPMG Nigeria, as a leading audit firm, had to adapt to these challenges by embracing digital tools, revising audit methodologies, and enhancing communication with clients. However, the pandemic also exposed vulnerabilities such as cybersecurity risks, reduced access to physical records, and potential compromises in audit quality due to limited face-to-face engagements (ICAN, 2023).
This study examines the impact of COVID-19 on audit practices at KPMG Nigeria, focusing on the challenges faced, the innovations implemented, and the implications for the future of auditing in Nigeria.
Statement of the Problem
The pandemic disrupted traditional audit practices, leading to delays, increased costs, and challenges in obtaining sufficient and appropriate audit evidence. While firms like KPMG Nigeria adopted remote auditing technologies and revised their processes, concerns about the effectiveness and reliability of these practices persist.
Limited access to physical records, difficulties in assessing controls, and increased reliance on technology posed risks to audit quality and stakeholder trust. This study addresses the gap in understanding how audit firms navigated these challenges and evaluates the long-term impact of COVID-19 on audit practices in Nigeria.
Objectives of the Study
-
To evaluate the impact of COVID-19 on audit practices at KPMG Nigeria.
-
To identify the challenges and opportunities introduced by the pandemic for audit firms.
-
To recommend strategies for improving audit practices in the post-pandemic era.
Research Questions
-
How did COVID-19 impact audit practices at KPMG Nigeria?
-
What challenges and opportunities did the pandemic present for audit firms in Nigeria?
-
What strategies can enhance audit practices in the post-pandemic environment?
Research Hypotheses
-
H₁: COVID-19 significantly disrupted traditional audit practices at KPMG Nigeria.
-
H₂: Remote auditing during the pandemic posed challenges to audit quality.
-
H₃: Post-pandemic strategies can improve the resilience and effectiveness of audit practices.
Scope and Limitations of the Study
The study focuses on KPMG Nigeria, analyzing the impact of COVID-19 on its audit practices from 2020 to 2025. Limitations include reliance on secondary data and potential bias in self-reported experiences by audit staff.
Definitions of Terms
-
COVID-19: A global pandemic caused by the SARS-CoV-2 virus that disrupted business operations worldwide.
-
Audit Practices: Procedures and methodologies used by auditors to conduct financial and operational audits.
-
KPMG Nigeria: A leading professional services firm providing audit, tax, and advisory services in Nigeria.
Related Project Materials
ONLINE CAMPUS TAXI BOOKING SYSTEM
ABSTRACT
When the transportation system of any educational institution is effective, it positively contributes to effect...
A SURVEY ON THE EFFECTIVENESS OF TELEVISION IN REPORTING HERDSMEN AND BANDITS CRISES IN NIGERIA
EXCERPT FROM THE STUDY
Television is defined as an audio-visual medium. It blends pictures with sound to produce a commu...
An assessment of students’ access to vocational training resources in Demsa Local Government Area, Adamawa State
Background of the Study
Access to quality vocational training resources is a critical determinant of educational outcomes...
An evaluation of adult education programs in enhancing disaster preparedness among residents of Jalingo Local Government Area, Taraba State
Background of the study
Disaster preparedness is critical in mitigating the adverse effects of natural and man-made disaste...
The Role of Local Newspapers in Fostering Community Participation in Governance in Minna Local Government, Niger State
Chapter One: Introduction
1.1 Background of the Study
Community participation in governance is crucial for strengthening democr...
An appraisal of maintenance charge policies on branch operational costs in banking: a case study of Stanbic IBTC Bank Nigeria
Background of the Study
Maintenance charge policies are designed to recover the costs associated with maintaining customer...
The Impact of Social Media Health Campaigns on COVID-19 Vaccine Acceptance in Bauchi State
Background of the Study
The COVID-19 pandemic highlighted the role of social media in disseminating pub...
AN EXAMINATION OF THE PROBLEM AND PROSPECTS OF THE ADMINISTRATION OF GROUND RENT
ABSTRACT
The ground rent has of course become an established part of modern leasing practice, but is only as recently as...
An examination of the role of POS technology in enhancing retail banking efficiency: a case study of Wema Bank
Background of the Study
Point-of-sale (POS) technology has revolutionized retail banking by enabling faster, more efficient transaction p...
Analyzing the Impact of Foreign Direct Investment on Nigeria’s Macroeconomic Indicators
Background of the Study
Foreign Direct Investment (FDI) has emerged as a critical driver of economic growth and modernization in emerging...
