AN EVALUATION OF USERS' PERCEPTION OF AUDIT SERVICE QUALITY AND FINANCIAL STATEMENTS IN NIGERIA
AN EVALUATION OF USERS' PERCEPTION OF AUDIT SERVICE QUALITY AND FINANCIAL STATEMENTS IN NIGERIA
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Date
1996-08
Authors
OLALERE, YUSUF, BASHIR AKANJI
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Abstract
iii
ABSTRACT
This study focuses on evaluation of the effects of audit
service quality on users' credibility perception of audited
financial statements and their use for economic decision -making in
Nigeria.
The analysis of data collected by way of opinions survey of
auditees, investors and lenders revealed that post-audit reports of
fraud in organisations and the general notion that audit was a mere
annual routine to comply with statutory requirements had led to
awareness by users of financial statements, of audit service
quality differences among audit firms. The resultant consequence
was the discriminatory selection and engagement of qualitydifferentiated
audit firms by auditee qouted companies which
patronize money and capital markets, using audit firm size,
reputation, competence, independence etc as quality service
surrogates. It is also noted that investors and lenders preferred
and perceived as more credible financial statements audited by such
quality -differentiated audit firms for use in economic decisionmaking.
It concludes by suggesting inter-alia, closer monitoring of
public accounting firms for quality standard and annual peer review
of audit firms as a basis of renewal of practising licence;
encouragement of large partnership and engagement of small audit
firms by big quoted companies to afford them the experience, growth
and financial strength with which to achieve independence and
competence necessary for quality service.
iv
Many thanks to my brother-in-Islam Al-Sayyidi Mashood Salaudeen
whose path I toed unregrettably in both academics and faith. I am
also grateful to my friend and colleague Dr. Edward Ola Olowokere
whose contribution, assistance and encouragement helped in
unmeasurable way to the completion of this research work.
My regards also go to my wife Rahmat Funmilayo and my daughter
Bola Bilikis for their love, patience and understanding during my
absence for academic pursuit.
Finally, praise be to Allah the most High for sparing my life
to complete this dissertation.
Description
Department of Accounting, Faculty of
Administration, Ahmadu Bello University,
Zaria.
Keywords
EVALUATION,, PERCEPTION,, AUDIT,, SERVICE,, QUALITY,, FINANCIAL,, STATEMENTS,, NIGERIA.