THE ROLE OF INDEPENDENT AUDITORS IN FRAUD CONTROL IN NIGERIA
This research examines the roles of independent auditors in fraud control in Nigeria. It focuses on the extent to which independent auditors are responsible for fraud prevention, detection and control .The population of this study includes professional accountants and other people with accounting qualifications and experience. The main sources of data comprised of both primary and secondary sources. The primary data were obtained from the respondents through questionnaire while the internet, relevant textbooks, articles in journals and relevant unpublished materials were used to obtain secondary data. Data collected for this research were analysed through the use of tables, percentage and chi – square. From the findings of this research, it was discovered that respondents are very concerned about the problem of fraud and they placed that high expectation on independent auditors duties in fraud control. This perception is in contrary with the stated objective of an audit as stipulated in ISA 200 which merely required auditors to form an opinion on the financial statement but not on fraud prevention and detection. The research concludes that the primary objective of an independent auditor is not only to prevent and detect fraud but nevertheless they still have their own parts to play in fraud control in Nigeria.
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