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.
Background of the study
This study “Impact of Pornographic Materials on Youths” aims at identifying the infl...
ABSTARCT
This study was carried out on the effect of cryptocurrencies on the value of the Nigeria Naira...
ABSTRACT
The study investigated the Effects of Computer Simulation on Academic Achievement and Retention in Geography Among Secondary Sch...
ABSTRACT
American University of Nigeria (AUN) has many web application used every day both by students and faculty. For students, faculty...
ABSTRACT
This study is designed to investigate the challenges and prospects of teaching and learning ve...
ABSTRACT
This study examines the effect of private media houses in Nigeria economy using African Independent T...
Abstract
Economic development in every nation is based on construction projects undertaken through several types of contracts. However, c...
THE ROLE OF DETAIL ORIENTATION IN ADMINISTRATIVE TASKS
Abstract: This study expl...
EXCERPT FROM THE STUDY
From the findings of the study, there are factors that determine marketing intelligence of a firm such as personal...
Background of the study
Over the years world views have continually detected the moral disposition of the world’s people. This is t...