THE ROLE OF INDEPENDENT AUDITORS IN
FRAUD CONTROL IN NIGERIA
ABSTRACT
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relevant textbooks, articles in journals and relevant unpublished materials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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