THE ROLE OF AUDITORS IN BANK FAILURE IN NIGERIAN BANKS
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ABSTRACT
The main focus of this study is to examine the role of auditors in bank failure in Nigeria Banks.The study adopted a survey research design and conveniently enrolled 80 participants in the study who are depositors in selected banks in Benin Metropolis. Well structure questionnaire which provided answer to the research questions was issued to the participant. A total of 77 responses were received and validated for the study. Hypothesis was tested using Chi-Square statistical tool (SPSS). Findings from the study revealed that auditors have play little and insignificant role in checking the abuse of powers of managers and ensuring efficient reporting. And due to the quest of maintaining client relationship they have collaborated with bank managers involved in unethical practices thus leading to crisis and bank failures. The researcher therefofre recommends that uditors should adhere strictly to the true and fair view principle so as to give a vivid, truthful, clear and understandable report to their organizations since the risk management and decision making of the organization solely depends on them. More so, The Central Bank of Nigeria, the Nigerian Deposit Insurance Corporation and other regulators should therefore establish their own dedicated teams of auditors to conduct continuous audits of all the major financial institutions.
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