JO S E P H , F IN E B O Y I.
Department of Accounting
Clifford University
Owerrinta, Nigeria.
Abstract
The study investigates the circumstances militating against effective assurance services and corporate reporting in Nigeria. The study adopted a simple random sample technique. Presentation and analyses of primary data collected with questionnaire and testing of the hypotheses were done using percentage and Spearman’s Rank correlation coefficient. The results from the tests with the help of SPSS show positive and significant correlation between integrity and honesty of external auditors and quality assurance services and corporate reporting. It was revealed that there is a significant correlation between impaired external auditor’s independence and quality assurance services and corporate reporting.The more the independence of external auditors is impaired; the more ineffective the reliability of assurance services and corporate reporting. It equally brought to limelight that there is a strong positive correlation between external auditor’s skills on the use of ICT facility such as computer and effective assurance services and corporate reporting. Based on the finding, the study concluded that for effective assurance services and corporate reporting on the financial statement to be achieved, integrity and honesty of the auditor must be given pride of place. In addition to ensuring the independence of external auditors, they should be ICT compliant in order to embrace automated accounting system in line with digitalization developments in assurance services and corporate reporting. It is recommended that auditors should be meant to possess integrity and honesty, assume a high degree of independence and acquire proficiency in relation to ICT based on computer based auditing in order to ensure effective, reliable and valid assurance and corporate reporting services.
Keywords: Assurance services, corporate reporting, financial statement, digitalization
International Journal of Business and Common Market Studies Vol.13 No. 1&2
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