Auditors’ Financial Statement Reporting and Corporate Performance of Deposit Money Banks in Edo State, Nigeria

AKINLOSOTU, Nathaniel Toyosi, AIGBOMIAN, Efehi


This study investigated the roles of auditors in financial statement reporting and corporate performance of deposit money banks in Nigeria. The descriptive research design was adopted in the study. The population covered all the auditors and accountants in the nine (9) Deposit Money Banks in Ekpoma, Edo State. A sample of (150) bankers selected from five deposit money banks were drawn for the study. A self-developed questionnaire titled: Auditors’ Role in Financial Statement Questionnaire -ARIFISAQ” was used for collection of data. Data collected were analysed with percentages (%), frequency distribution table and Chi-square statistics (X2) using Statistical Package for Social Sciences (IBM SPSS®). Results showed that: the roles of internal auditors in the preparation of financial statement in their organization include: examination of the financial statement for fair-reporting; correcting possible errors; ensuring for correctness, the reliability of data presented; and verification of the accuracy of information reported in a financial report. Furthermore, a significant relationship between auditors’ role performance in the preparation of financial statement, corporate survival and profitability of banks in Edo State was found (X2 = 14.702, 9.731, p<0.05). It was recommended that external auditors should endeavour to be transparent and accountable in their auditing practices with business organisations in Nigeria.

Keywords: Auditors, Financial Statement, Corporate Performance, Profitability

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