ABSTRACT

This study review the impact of statutory auditing on the quoted companies, some special advantages inherent in the engagement of statutory auditors and auditors contribution to management efficiency. It is evident that relationship between the quoted companies and financial institutions are not very cordial because these organization still depend largely on personal family as sources of fund. Against this background, the growth prospects of' the quoted companies appear very bleak, especially under the present economic environment. This situation has given rise to the view among financial analyst, that for companies to achieve improved access to credit facilities, it would be necessary to evolve a more reliable strategy of auditing the account of quoted companies to raise much needed capital for the improvement of such companies. This study evaluates the impact of statutory auditing on the performance of the quoted companies a case study of Afribank Plc, Umuahia metropolis. The study has been divided into five chapters. The first is the introductory chapter, which deals with the background of the study, statement of the problem, objective of the study, research hypothesis, scope and limitations of the study. The second chapter deals with the review of related literature by other authors in the area statutory auditing. The third chapter explains the research methodology adopted for the study. Thus a chi-square analysis was used for the test of hypotheses. The fourth chapter is where the data were presented, analyzed as well as summarizing of the result. Chapter five is the concluding chapter which summarized the work and put forward recommendation that could be adopted by the quoted companies. The survey research was adopted for this study. The primary data were procured with interview and questionnaire techniques, while the secondary data were gotten from the research university. The research work was successfully carried out and the recommendation put forward of adopted will go a long way in improving the performance of statutory auditing on the quoted companies.