The Nexus between the Concept of Independence of Auditors and Quality Assurance Services in Audit Engagements in Nigeria

Oluwagbuyi Olusola Luke


Trusted and reliable financial statements are imperative so as to make sustainable decisions in corporate organisations.  This can only be achieved by the Auditors Independence.  Since this will engender fairness, objectivity and integrity that culminate into quality assurance in the reporting activities of the auditors.  Considering the various groups that repose their confidence on the report of Auditors and the legal and professional consequence of unreliable Auditors report, sensitivity must be displayed to ensure quality assurance services in audit report. 500 questionnaires were distributed and analysed through the use of chi-square statistical technique at 5% level of significance to probe the opinion of professionals, and other users of financial information.  The findings show that confidence of the users of financial report are been eroded on daily basis because of the loss suffered as a consequence of reliance on the Audit report.  This paper hereby recommend that professional accountants in the field must do everything to ensure independence in their audit engagement.

Keywords: Quality assurance, Audit engagement, Independence, Financial Reports, Audit Reports.

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