The perception of ethics in auditing profession in Nigeria
No Thumbnail Available
Date
2011-11
Authors
Adeyemi, S. B.
Fagbemi, T. O.
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Accounting and Taxation
Abstract
The purpose of the study is to provide evidence on ethics, legitimacy of auditing profession and the future outlook of the profession in Nigeria by obtaining responses from external auditors, industry and academic accountants as well as auditing students. In spite of the existence of research pointing to the link between corporate scandal and loss of public confidence, there is paucity of research focused on the future of the profession in the midst of these challenges in Nigeria. Using a survey design, the questions that were raised in the study were tested with the use of statistical tools for population means and level of significance tests. In essence, analysis of variance was carried out on the responses of the groups of respondents which were surveyed. Findings from the study show that there is no significant difference in the perception of respondent groups on the need for auditors to abide by high ethical standard and the need to shape the views of new entrants to the profession. However, respondents have different perception on the decline of core values which attracted them to the profession. The study suggests that there is the need for the profession to gear its effort towards shaping the views of new entrants to the profession in Nigeria, ensure adherence and enforcement of high ethical standard. Regulation of the profession should be targeted towards restoring the confidence of users of financial statements in financial reporting in Nigeria.
Description
Scholarly article
Keywords
auditing profession , ethics , public confidence , legitimacy , Nigeria , Research Subject Categories::SOCIAL SCIENCES
Citation
Adeyemi, S. B. and Fagbemi, T. O. (2011). The perception of ethics in auditing profession in Nigeria. Journal of Accounting and Taxation, 5(7), 146-157