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Auditors Independence and Quality of Financial Report in the Public Sector (A case study of Public Sectors in Abuja, Nigeria)

Osamuede, Osamuede Uhunwa (2022) Auditors Independence and Quality of Financial Report in the Public Sector (A case study of Public Sectors in Abuja, Nigeria). Masters thesis, Dublin, National College of Ireland.

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This study investigates auditor’s independence and the quality of financial reports in the Nigerian public sectors. Auditors are expected to be independent while auditing the financial reports of various government organizations, however, some scholars have noted that this is not the case. Through the use of a survey, primary data was collected from those working in the different public sectors in Nigeria. The analysis of the data was done with the use of the Statistical Package of the Social Science (SPSS). The mean value and T-values of the coded responses were used to test the hypothesis. The result from the analysis indicates that audit committees are not properly functioning in the Nigerian public sectors, which by extension implies that the functions of auditors are not independently carried out. Longer audit tenure has a positive but insignificant relationship with auditor independence while audit fees and auditors' rotation have a positive and significant relationship with auditors' independence. The study recommends that government commissions such as the Security and Exchange Commission (SEC) should intensify their efforts towards ensuring that every public sector has a functioning audit committee. Furthermore, the Financial Reporting Council (FRC) should ensure that the amounts paid to auditors are substantial enough to avoid being induced by extra cash. Also, the FRC should ensure that auditors' rotation is done frequently to avoid developing unnecessary cordial friendships with the members of the government organization.

Item Type: Thesis (Masters)
Subjects: D History General and Old World > DT Africa
H Social Sciences > HJ Public Finance
J Political Science > JS Local government Municipal government > Public Sector
Divisions: School of Business > Master of Science in Finance
Depositing User: Clara Chan
Date Deposited: 26 Oct 2022 11:15
Last Modified: 26 Oct 2022 11:15

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