Independence of auditors and the importance of financial statement credibility Department: Banking and Finance By: sifypatprojects Project ID: 4498 Rating: (3.3) votes: 6Rate this project12345 Price:₦3000 Get the Complete MaterialAbstractThis study critically evaluated and analyzed the independence of auditors and the importance of financial statement credibility. The data used for this work were collected for primary sources of data collection. The relevant data collected were analyzed using simple percentage and hypotheses were tested using chi-square. The results of the test show that auditors' independence affects the credibility of financial statements and the improvement in the credibility of financial can reduce manipulation in the financial statement. The study also found that auditors' independence and the credibility of financial statements are significantly impaired when non-audit services are conducted and that there is a positive relationship between the independence of an auditor and credibility of financial statements. Therefore, the independence of auditors is fundamental to the credibility of financial statements. Based on the above, the study recommends that there should be rotation of auditors to improve the auditor's independence, implementation of peer assessment in order to ensure that audit are carried out with utmost professionalism and mental respect and that auditors should not be allowed to provide audit client with any other advisory services...Preview Download Preview +Other Banking and Finance project topics and materials you might be interested in»The role of central bank of Nigeria (CBN) in the development of Nigeria financial sector»Appraisal of the economic implication of electronic banking in Nigerian banks (A case study of diamond bank)»The impact of strategic planning on banks performance in Nigeria (A case study of united bank for Africa plc)»Evaluation of the impact of liquidity management on banks performance in Nigeria ( A case study of UBA )»The roles of central bank of Nigeria in the prevention of bank failure or liquidation (A case study of central bank of Nigeria 2005-2009)»The role of financial institutions in promoting banking habit and saving capital formation in Nigeria»The effect of electronic banking on fraud reduction in bank (A case study of access bank plc)»The effectiveness of monetary policy measures in controlling inflation in Nigeria»Problems and challenges facing finance houses in the Nigerian economy ( A case study of mortgage bank owerri )»The role of deposit money bank in Nigeria in economy development in Nigeria - a case study of Access Bank Plc»Motivation as a way of reducing fraud in banking industry ( A case study of UBA and Fidelity bank )»The impact of insurance industry on the economic growth of Nigeria (A case study of nicon and hallmark insurance companies 2005-2009)»Identification and management of bad debts in Nigeria commercial banks(A case study of UBA plc)»The contribution and effect of computer to modern day banking in Nigeria (A case study of zenith bank and first bank plc)»The use of accounting information in assessing control and performance in an organization (A case study of first bank of Nigeria owerri)