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
This project is concerned with the development and evaluation of an atomtrapping technique for determination of heavy metals in...
ABSTRACT
The purpose of this research work is to find out the causes and effect of examination ma...
ABSTRACT
The study was conducted to determine the influence of World Bank Assisted Fadama II in promoting ruminant production among farme...
ABSTRACT
This study looks at the impact of tariff on the economic growth of Nigeria. It examines the extent to which tar...
ABSTRACT
Monsters Within is a fun 3D FPS horror survival game on the Windows platform that demands its players to have fast reflexes, qui...
ABSTRACT
This study examines the quality of graduates produced by the tertiary institutions in Nig...
BACKGROUND OF THE STUDY
Fraud is an endemic that are gradually becoming a normal way of life in both pu...
ABSTRACT
The purpose of this study was to establish the relationship between marketing strategies and performance of hotels in Abuja. Spe...
Abstract
Many developing countries are competing to attract foreign direct investment with a belief that it can be a tool for poverty red...
BACKGROUND OF THE STUDY
In any serious country, state, organization, or individual, education is a vita...