The Impact of Internal Control System on External Audit Fee Determination in Nigeria

Emeni, F. K. (2009) The Impact of Internal Control System on External Audit Fee Determination in Nigeria. Bayero Journal of Interdisciplinary Studies, 2 (3). pp. 7-20. ISSN 2006-831X

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Abstract

This stud.v is pmlllfll!'d /Jy tt desire to .find out the impact qf' internal control system on external audit fee determination, based on the experience in Nigeria. The design and technique employed in data collection are cross - sectional \'1/rvey research design and data collecthm .fimn secondary source. Tile Ordinary Least Square (OLS) was used to estimate tile independent variables (INAUDITC, INTAUOBJ, INTNATU) and analyse data collected. It was found that illfernal control system (in terms of quality/competence, objectivity and nature r~f' work carried olll ll'itl!in tile system) is i111·ersely related to external auditors' fee. Following .fi'Oin this finding, it is recommended that, the internal control system r~f' c01porate bodies should constantly be monitored by their managements for e.flective auditing. Also, external auditors should appropriately rely on their cliellf's internal control system when making decisions on the extent of reliance on the internal colllrol system and ll'hen determining their audit fee.

Item Type:	Article
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management
Depositing User:	Mrs Patricia Nwokealisi
Date Deposited:	24 Apr 2015 22:51
Last Modified:	24 Apr 2015 22:51
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/5121

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