Computer Assisted Audit Techniques and Audit Quality in Developing Countries: Evidence from Nigeria

Omonuk Jb () and Oni Aa
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Omonuk Jb: Department of Accounting Finance and Economics, Southern University, USA
Oni Aa: Department of Computer and Information Sciences, Covenant University, Nigeria

Journal of Internet Banking and Commerce, 2015, vol. 20, issue 03, 01-17

Abstract: Most business organizations world-over have computerized their accounting systems. Extant literature finds that the use of Computer Assisted Audit Techniques (CAATs) is positively related to the quality of audit reports. CAATs are widely applied to audit financial statements in developed countries. However, there is a void in literature about the audit of computerized accounts in developing countries. We draw a sample from Nigeria to investigate the following questions, “Do auditors effectively audit computerized accounts and; Is there a positive relationship between the use of CAATs and audit quality?” Using descriptive statistics, correlation analysis and logistic multiple regression, we provide evidence that: (1) CAATs are effectively used, (2) there is a positive relationship between the use of CAATS and audit quality, and (3) in a sample that excludes the big 4 International audit firms, local Nigerian firms are not effective in applying CAATs, and so, do not produce quality audit reports.

Keywords: CAATS; Computerized accounting; Audit quality; Auditor; Nigeria (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2015
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