Select Currency
Translate this page

PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO

Format: MS WORD  |  Chapter: 1-5  |  Pages: 88  |  1636 Users found this project useful  |  Price NGN5,000

  DOWNLOAD THE FULL PROJECT

 

PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO

 

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

In recent years, the independence of an auditor has come under criticism. This is because the essence of auditing was to authenticate the true and fairness of the financial statement, and to give a true picture of the financial statement of the reporting entity, and to give credibility to it. This however has not been achieved, as the public has been mislead by “window dressed” financial statement which the auditor has audited and gives an unqualified opinion; and thus mislead the users of this financial statement who relied on it credibility.

Many critics have observed that the public accounting profession has done little to police its own members.  Due to the fact that most companies which had been wound up had it financial statement audited within the year and a high margin of profit reported , and yet nothing is done to the auditors who authenticate and attest to it credibility. This and so many other cases put forward by Taylor and Glezen (1994) has brought to light some dismal performance of some auditing firms. Among the prominent case of criminal action against auditors is certified professional midwives (CPMs) in United States Vs Natali (1975) where two auditors where convicted of criminal liability under the 1934 act for certifying financial statement of national student marketing corporation that contain inadequate disclosures pertaining to account receivable. The fraud was so extensive and the audit work so poor that the court concluded that the auditors must have been aware of the fraud and where guilty of complacency.

However, Azubuike (2005) state that auditing is derived from the Latin word AUDIRS which means to hear. Auditing profession emanate as a result of the development in the business organization over the years from sole proprietorship to partnership and then to corporate entities, ownership continue to be separated from the control (management) of the business.

 Ikechukwu and Bridget (2004) Opine that today  providers of capital that is business owners or share holders engage managers (steward) to run the business organization on their behalf. They managers are accountable to the owners then the question arises: How true or correct are the presentation of the managers to the owners of the business on the day-to-day running of the business. An intermediary (Auditor) comes into play to mediate between to owners and the management.

Ikechukwu and Bridget (2004) define audit as the independence examination if an expression of opinion on the financial statement of an enterprise by appointed auditor in pursuance of that appointment and in compliance by any relevant statutory obligation.

Okezie (1995) see  An audit in a process carried out by a suitable, qualified accountants or auditors whereby the accounts of business entities including charities, trust and professional firms are subjected to scrutiny in such a details as to enable the auditor to form an opinion as to the accuracy, truth and fairness. This opinion is then embodies in an “audit report” (attestation) address to interested parties who commission the audit or to whom the auditors are responsible. For this audit report to be of high quality there is need for professional independence.

Professional independence in the context of this work means the independence of the external auditor which entails independence from parties which way have an interest in the business being audited. Independence requires integrity and objective approach to the audit work or process. The concept requires the auditor to carry-out his or her work freely and in an objective manner.

Aderibigbe (2005) opines that professional independence however is a concept fundamental to the accountancy profession. Baker (2005) stated that professional independence refers to the independence   of the auditor from parties, that have an interest in the financial statement of an entity. It is essentially an attitude of mind characterized by integrity and an objective approach to the

  DOWNLOAD THE FULL PROJECT

PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO

Not The Topic You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005


HOW TO GET THE COMPLETE PROJECT ON PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO INSTANTLY

  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Adam Alhassan Yakubu
UDS
Excellent work and delivery , I promise to share my testimonies everyone in need of this kind of work. You're the best
Excellent
Abdul Mateen Iddrisu
UDS
At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly
Excellent
Abraham Ogbanje
NATIONAL OPEN UNIVERSITY OF NIGERIA
At first I was afraid.. But I discovered they are legit. I will bring more patronize
Very Good
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Abdulrazak Bello Marsha
Usman Dan fodio University
It was quite a better guide for project and paper presentation purpoting. Many thanks.
Average
Samuel From Ajayi Crowther University
You guys just made life easier for students. Thanks alot iprojectmaster.com
Excellent
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Abdulrahman Jibrin
Nti Abaji
Nice one work prompt delivery tanx
Very Good
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for PROFESSIONAL INDEPENDENCE AND QUALITY CONTROL IN AUDIT PRACTICE OF SELECTED ACCOUNTING FIRMS IN UYO, What do i do?

Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!