Published 2023-07-28
Keywords
- Audit independence,
- Audit fees,
- Audit tenure,
- Audit reputation
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Copyright (c) 2023 American Research Journal of Contemporary Issues
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
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Abstract
The study determined the effect of auditor’s independence on audit quality of deposit money banks in Nigeria using audit fees and audit tenure. The study adopted Ex-Post Facto research design. Data were extracted from the audited annual reports of the sampled deposit money banks in Nigeria. Simple regression analysis was used to test the formulated hypotheses with aid of E-view version 9.0. Based on analysis, the study found that audit fees have a positive effect on audit quality of quoted Nigerian deposit money banks, but not statistically significant. Another observation is that audit tenure has a positive effect on audit quality of quoted Nigerian deposit money banks, and not statistically significant. Based on the result, the study recommended among others, that the professional bodies should always watch governmental actions and raise alarm on policies which could hinder smooth discharge of auditors’ responsibility, especially in the audit of deposit money banks in Nigeria.