Abstract
This study was conducted to ascertain the role of accountants and auditors in checking distress in Nigeria banks. To achieve this objective, the following Nigerian bank were used as study area before their acquisition by more viable banks- First bank. Primary data were collected by using validated questionnaires and secondary data collection was by oral interviews and examination of some bank documents. Two hundred and fifty questionnaires were distributed among staff of the aforementioned bank in Anambra State and thereafter, two hundred and thirty-five of the returned questionnaires were valid and were subsequently subjected to descriptive statistical analysis to ascertain the roles and involvement of auditors in distress in Nigerian banks in line with the elements of the questionnaires. Analytical statistical tools such as means, standard deviations and percentages were used for the analysis. Chi-square and Student t-test were used as the major statistical tools for testing the hypotheses and comparing mean values. Result of the study indicated that there were collusion between accountants/auditors and management and there is aiding and abetting of management by external auditors to commit fraud. It was also found that there is gross negligence and improper performance on the jobs by accountant/auditors and in some instances, accountants/auditors are gagged by management and directors. Experience of accountants/auditors was also found to play a significant role in the quality of report submitted.
The major conclusion of this study is that auditor’s reports presented for distressed and failed banks fulfilled only the letter of the law. It is thus recommended that the law should be amended to make auditors criminally liable for negligent performance of duty in addition to the current civil liability.
ABSTRACT
The challenge identified by this research was the manner of collaterisation of credits by financial institutions. It was discove...
ABSTRACT
Civic centre is a reference point of any city where it is located and has been designed to attract interest, hence symbolic expr...
ABSTRACT
The study examined effects of accounting information system on profitability of manufacturing company, a case study of Cadbury N...
Despite increasing numbers of students embarking on tertiary studies in Nigeria, the proportion of students completing a quali...
ABSTRACT
This study seeks to investigate customer’s perception of GSM interruptive advertisement...
ABSTRACT
This study was carried out on the effects of immunization as it affects children health. A cross-sectional survey was conducted...
BACKGROUND OF THE STUDY
Religiosity is an indispensable aspect of humans. It is one of the most active...
Abstract
The study examined the evaluation of the management of secondary schools in southern Kaduna senatorial zone, Nigeria. Descri...
The topic of this study was discipline in the public service of Enugu, state. (A Case study of ministry of Ju...
Abstract: Industry simulations are increasingly employed to bridge the gap between classroo...