Auditors And Bank Failures In Nigeria

ABSTRACT Controversies have trailed the credibility of financial statements prepared by management of companies. More worrisome is the collapse of banks in Nigeria months after such banks have been issued a clean bill of health. A financial statement is supposed to reflect a company’s true financial position at any given time. When this is jeopardized, corporate failure becomes inevitable. This study examines auditors’ role in the failure of banks. The main objective is to ascertain the extent to which auditors are liable to the failure of banks in Nigeria. A sample of  CBN’s adjudged ‘ailing …