STATUTORY AUDITS AND FRAUD REDUCTION IN LISTED FIRMS IN NIGERIA

Ezekiel Kolawole, Babarinde ()
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Ezekiel Kolawole, Babarinde: Department of Accounting, Postal: Caleb University, Imota, Lagos.,, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2019, vol. 4, issue 2, 32-57

Abstract: This study examines the impact of statutory audit on fraud reduction in listed firms in Nigeria. Data obtained from administered questionnaires on six listed firms sampled using the cluster sampling technique were analyzed using the Kendall tau_b and Ordinary Least Square (OLS). Research results showed that statutory audit has a significant impact on fraud reduction in listed firms in Nigeria; that there exists a high degree of relationship between audit essentials and audit knowledge with the regression coefficient of 0.766 indicating that auditor knowledge of the terrain which listed firms operate as well as auditors' exposure to the essentials of an effective conduct of audit serve as an effective check on fraud. Further result shows that fraud reduction is strengthened through policies, procedure, and concerted efforts of both management and statutory auditors.

Keywords: Audit; Audit procedure; Fraud; Fraud reduction; Fraud risks; Statutory audit; Financial performance. (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jfaafi:0007

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