AUDIT QUALITY AND FRAUD DETECTION AMONG LISTED FIRMS IN NIGERIA

ABSTRACT

The purpose of this research is to determine the impact of audit quality on fraud detection among listed firms in Nigeria. Using the convenient approach, these users also constituted the sample size. In other words, this study was predicated on the viewpoint of the users of those in participants in the commercial banks in Nigeria. Hence, by way of sample size, a total of 101 participants were purposively selected from various insurance firms in Nigeria state as respondents. The research instrument was the questionnaire, through which primary data was collected and duly analysed using ordinary least square regression was employed to interrogate the hypotheses. In order to ensure the reliability and validity of the research instrument, which is the questionnaire, the Cronbach Alpha Reliability Test was also conducted and found satisfactory. The findings reveal that there is a significant relationship between audit fee and fraud detection, audit competence has a significant relationship with fraud detection audit rotation has an insignificant relationship with fraud detection and that audit objectivity has an insignificant relationship with fraud detection. It is thus recommended that companies should consider allocating more resources to their audit budgets. Higher audit fees may correlate with more thorough and detailed audit procedures, thus enhancing fraud detection capabilities, firms should prioritize the continuous training and professional development of their auditors. A competent auditor is likely to be more effective in detecting fraud.