An Assessment Of True And Fair View Of Audit Reports On Companies in Nigeria (A Case Study Of Selected Companies)

ABSTRACT

 Developments in commerce and industry and tile separation )! the owners of' business ventures from the managers of such ventures created the ncd for the auditing of tile accounts prepared by managers by external auditors who are appointed by the owners of the business at the end of every IThancial year. l'hc auditors arc expected to express their opinion as to the true and fair view of these financial statements in their report at tile end of the audit. The whole exercise is to lend credibility to the financial statements and to convince the owners and other stakeholder that their interest in the business is secure. Survey data were obtained from 67 respondents to researcher designed instrument. Data were analyzed using descriptive statistics and chi-square analysis techniques. The results obtained revealed that tilere is poor positive management cooperation with the auditors and this limited tile amount of audit evidence collected by the auditors, hence, puts a question mark Ofl tile credibility of the statement prepared by tile management. Although the public is yet to understand the work of the auditor, this research work advocated thai. the public should be educated to understand the duty of the auditor; positive cooperation should be developed between the management and the auditors