An Evaluation of the Impact of Audit Ethics on Stakeholder Trust: A Study of Nigerian Breweries Plc
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Background of the Study
Audit ethics play a critical role in fostering stakeholder trust by ensuring that audit processes are objective, transparent, and credible. In corporate environments, stakeholders rely on audited financial statements to make informed decisions. Breaches in audit ethics, such as conflicts of interest or manipulation of reports, undermine trust and can lead to financial scandals (Olusola & Adebayo, 2024).
Nigerian Breweries Plc, one of the leading beverage companies in Nigeria, represents a significant case for evaluating how audit ethics influence stakeholder trust. The company’s extensive shareholder base and regulatory requirements make its audit processes highly scrutinized. This study examines the impact of audit ethics on building and maintaining trust among stakeholders in Nigerian Breweries Plc.
Statement of the Problem
Stakeholder trust in audited financial statements has been eroded by several cases of audit failures in Nigeria. While audit ethics are intended to address this issue, lapses in their application persist due to factors such as undue client influence and lack of professional independence.
Nigerian Breweries Plc, as a publicly traded company, depends on stakeholder trust to maintain its market reputation and investor confidence. This study seeks to evaluate how audit ethics influence trust among the company’s stakeholders and identify areas for improvement.
Objectives of the Study
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To examine the application of audit ethics in Nigerian Breweries Plc.
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To evaluate the relationship between audit ethics and stakeholder trust.
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To identify factors that undermine the application of audit ethics in Nigerian Breweries Plc.
Research Questions
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How are audit ethics applied in Nigerian Breweries Plc?
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What is the relationship between audit ethics and stakeholder trust?
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What factors undermine the application of audit ethics in Nigerian Breweries Plc?
Research Hypotheses
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H₀: Audit ethics are not effectively applied in Nigerian Breweries Plc.
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H₀: There is no significant relationship between audit ethics and stakeholder trust.
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H₀: Significant factors do not undermine the application of audit ethics in Nigerian Breweries Plc.
Scope and Limitations of the Study
The study focuses on audit ethics as applied in Nigerian Breweries Plc from 2023 to 2025. It examines their impact on stakeholder trust and the challenges associated with their application. Limitations include restricted access to internal audit reports and potential biases in stakeholder perceptions.
Definitions of Terms
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Audit Ethics: Moral principles guiding the conduct of auditors to ensure objectivity, integrity, and transparency.
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Stakeholder Trust: Confidence placed by stakeholders in an organization’s governance and financial reporting processes.
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Nigerian Breweries Plc: A leading beverage company in Nigeria and a subsidiary of Heineken N.V.
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