This article provides vast knowledge on the impact of independence of statutory auditors and reliability of financial statements in Nigerian listed companies.
ABSTRACT
In this study, the impact of the independence of statutory auditors on the reliability of financial statements in Nigerian listed companies was critically evaluated and analyzed. The major problem identified was is the need to safeguard auditors’ independence in order to gain stakeholders’ trust and confidence to utilize the audited financial statements to make better economic decisions. The objectives are to determine the impact of statutory auditors’independence on the completeness of financial statements, to ascertain the impact of the statutory auditors’ independence on the neutrality of financial statements, to evaluate the impact of the statutory auditors’ independence on financial statements’ compliance with regulatory framework and to determine the impact of the statutory auditors’ independence on the financial statements’ degree of freedom from material error, which is also in agreement with the research questions and hypotheses.The study made use of primary data which was collected using structured online questionnaires administered to the shareholders of listed companies in Nigeria. The population of the study comprised all shareholders in Nigerian listed companies, from which 150 shareholders were purposely selected. The gathered data was analyzed using descriptive statistics and inferential statistics. For unwavering quality, the Cronbach alpha was utilized to test the dependability of the instrument.The research findings revealed that independence of statutory auditors has a positive significant effect on reliability of financial statement (RFS) (F= 9.018, Adj. R2 = 0.191, p0.05), Audit fee (AF) has a positive significant effect on RFS (β1 = 0.387; t-stat = 2.827, p0.05) and Non- audit services (NAS) has a positive significant effect on RFS (β3 = 0.294; t-stat = 2.251, p
Safiriyu, S. (2018). Independence of Statutory Auditors and Reliability of Financial Statements in Nigerian Listed Companies. Afribary. Retrieved from https://afribary.com/works/article-on-independence-of-statutory-auditors-and-reliability-of-financial-statements-in-nigerian-listed-companies-1
Safiriyu, Sodiq "Independence of Statutory Auditors and Reliability of Financial Statements in Nigerian Listed Companies" Afribary. Afribary, 01 Aug. 2018, https://afribary.com/works/article-on-independence-of-statutory-auditors-and-reliability-of-financial-statements-in-nigerian-listed-companies-1. Accessed 20 Apr. 2024.
Safiriyu, Sodiq . "Independence of Statutory Auditors and Reliability of Financial Statements in Nigerian Listed Companies". Afribary, Afribary, 01 Aug. 2018. Web. 20 Apr. 2024. < https://afribary.com/works/article-on-independence-of-statutory-auditors-and-reliability-of-financial-statements-in-nigerian-listed-companies-1 >.
Safiriyu, Sodiq . "Independence of Statutory Auditors and Reliability of Financial Statements in Nigerian Listed Companies" Afribary (2018). Accessed April 20, 2024. https://afribary.com/works/article-on-independence-of-statutory-auditors-and-reliability-of-financial-statements-in-nigerian-listed-companies-1