Public and private audit: an overview of Nigerian context
Journal Title: Scholars Bulletin - Year 2015, Vol 1, Issue 5
Abstract
Abstract: An audit is an independent examination of account of an entity done by an independent auditor in other to ascertain the truth and fairness of the financial statement. This paper tries to explore the content of public and private audit in Nigeria. Various laws and enactment were view as what are the requirements of public as well as private audit. It was found out that both of them are two bird of the same feather. They are all governed by the professional pronouncement as well as the financial reporting standard of Nigeria. Although, but the parties maintain the code of ethics of the profession which include: Independence, Integrity, Confidentiality and professional duty and care. It was recommended that strengthening the independence of the supreme audit institution, and reinforcing the PAC to be alive to its responsibilities and improving the accounting environment. Also external audit should maintain the ethics of the institution toward rendering of their duties. Keywords: Public audit, Private audit, PAC, Auditor general
Authors and Affiliations
Adamu Danlami Ahmed, Saleh Mohammad Bahamman, Sirajo Murtala
Keywords
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