An Evaluation of Remote Auditing Practices in Nigerian Banks During the Pandemic: A Case Study of UBA Plc
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Background of the Study
Remote auditing, driven by advancements in technology, became a necessity during the COVID-19 pandemic. This approach allowed auditors to perform their duties without physical presence, leveraging digital tools for communication, data analysis, and document verification. However, remote auditing also presented challenges such as cybersecurity risks, technical barriers, and limited access to on-site controls (ACCA, 2024).
In Nigeria, banks such as United Bank for Africa (UBA) Plc had to adapt quickly to the realities of remote auditing. While this ensured continuity in audit activities, it also raised questions about the effectiveness of remote methodologies in addressing complex audit issues and maintaining compliance with regulatory standards.
This study evaluates remote auditing practices in Nigerian banks during the pandemic, focusing on UBA Plc, and explores the lessons learned for the future of auditing in the banking sector.
Statement of the Problem
The shift to remote auditing during the pandemic exposed gaps in preparedness and technical capabilities among Nigerian banks. Issues such as data security, reduced interaction between auditors and clients, and difficulties in assessing physical assets challenged the effectiveness of remote audits.
Although UBA Plc implemented measures to ensure compliance and maintain audit quality, the limitations of remote auditing highlighted the need for enhanced digital infrastructure and skills development. This study addresses these challenges and provides insights into the role of remote auditing in the future of Nigerian banking.
Objectives of the Study
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To evaluate the effectiveness of remote auditing practices at UBA Plc during the pandemic.
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To identify challenges and opportunities associated with remote auditing in Nigerian banks.
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To recommend strategies for improving remote auditing practices in the banking sector.
Research Questions
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How effective were remote auditing practices at UBA Plc during the pandemic?
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What challenges and opportunities did remote auditing present for Nigerian banks?
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What strategies can enhance the effectiveness of remote auditing in the banking sector?
Research Hypotheses
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H₁: Remote auditing practices were effective in maintaining compliance at UBA Plc during the pandemic.
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H₂: Challenges such as cybersecurity risks and limited access to controls negatively impacted remote audits.
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H₃: Improved digital infrastructure and training enhance the effectiveness of remote auditing in Nigerian banks.
Scope and Limitations of the Study
The study focuses on UBA Plc, analyzing its remote auditing practices during the COVID-19 pandemic from 2020 to 2025. Limitations include potential bias in survey responses and the dynamic nature of regulatory requirements.
Definitions of Terms
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Remote Auditing: Auditing processes conducted without physical presence, using digital tools and communication technologies.
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UBA Plc: A leading Nigerian bank providing banking and financial services across Africa.
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Pandemic: The global outbreak of COVID-19, affecting economic and social activities.
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