Auditor Scepticism and Financial Crises: The Nigerian Factor
Journal of Finance and Accounting
Volume 5, Issue 4, July 2017, Pages: 123-130
Received: Apr. 3, 2017; Accepted: Apr. 18, 2017; Published: Jun. 3, 2017
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Authors
Umoren Adebimpe Otu, Department of Accounting, Faculty of Business Administration, University of Uyo, Akwa-Ibom, Nigeria
Asogwa Ikenna Elias, Department of Accounting, Faculty of Business Administration, University of Uyo, Akwa-Ibom, Nigeria
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Abstract
This research is carried out in order to examine auditor scepticism with respect to Nigerian financial crises. The study employed survey research method based on threats to professional scepticism at different structural levels as identified by [14]. The primary data was supplied by 270 respondents who are professional accountants and bankers in Akwa Ibom State, Nigeria. The study utilized principal component factor analysis to identify the component factors in the twenty item questionnaire. Correlation, Kaiser-Meyer-Olkin (KMO) and Bartlett’s test of sphericity was performed to assess the factorability of the data. The tests revealed among others; that factors of professional scepticism responsible for financial crises in Nigeria can be first traced to engagement team lapses, followed by individual auditor lapses and then profession/audit firm lapses. The study recommends that effort should be made by audit engagement team leaders in order to set a clear direction of audit work. They should also employ adequate audit planning, supervision and good time management skills.
Keywords
Auditor, Scepticism, Financial Crises, Nigeria
To cite this article
Umoren Adebimpe Otu, Asogwa Ikenna Elias, Auditor Scepticism and Financial Crises: The Nigerian Factor, Journal of Finance and Accounting. Vol. 5, No. 4, 2017, pp. 123-130. doi: 10.11648/j.jfa.20170504.11
Copyright
Copyright © 2017 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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