Effect Of Statutory Auditors' Independency On Audit Quality In Large Scale Organizations (A Study Of Nigerian Breweries, Enugu)

ABSTRACT

According to the standard of audit institution in the review of audit export promulgated on December 11, 1996 "audit report refers to written document about the conduct of audit and audit result, which are prepared using audit terms which after completion are being submitted to the audit institution. Auditor independence is best referred to as the cornerstone of the auditing profession since it is the foundation of the publics' trust in the accounting profession. Since 2000, waves of high profit accounting scandal have cast the profession into the limelight negatively affecting the public perception of statutory auditor's independence. In recent times, auditors have been put under pressure to ensure that their reports constitute assurance to investors about their funds being properly accounted for. In Nigeria every incorporated company is required to render an independent opinion of their financial statement, in order to show its trueness and fairness.