Cultural Factors and Audit Quality. Evidence from Nigeria

Sunday C. Okaro () and Gloria O. Okafor

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2015, vol. 5, issue 2, 17-22

Abstract: The purpose of this study is to find out the perception of professional accountants in Nigeria on how some cultural factors affect audit quality. A survey research design was adopted for the study. A questionnaire survey of 108 professional accountants was undertaken. Descriptive statistics were used to analyze the 50 usable responses received. The one sample t-test was used to confirm the significance of the responses. Findings include the fact that some Nigerian accountants receive bribes in the course of duty thus compromising audit quality. Also low litigation culture, slow and tardy judicial process and corruption in the wider Nigerian Society affected adversely audit quality. Our findings have implication for the regulatory authorities as they strive to rein in the monster of audit failures and thus improve audit quality in Nigeria.

Keywords: Audit Failure; Audit Quality; Corruption; Bribes; Litigation CultureJournal: International Journal of Academic Research in Accounting; Finance and Management Sciences (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:hur:ijaraf:v:5:y:2015:i:2:p:17-22

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