Audit Standards and Performance of Auditors’:Evidence From Nigerian Banking Industry

The study address the issue of auditors’ performance and audit standards in Nigerian Banking Sector and the understanding of issues surrounding the way and manner that Nigerian auditors’ carry out their work. As a result of issuing qualified audit report in the Nigeria financial institutions, billions of naira has been lost by many bank owners and customers due to the negligence of the auditors’. Therefore, the aim of this study is to assess the influence that audit standards has on performance of auditors’ in the Nigerian banking sector. The study uses both primary data in form of questionnaires and secondary source of data, previous articles and journals where reviewed on audit standards and auditors performance. The findings used pearson correlation to show the relationship between audit standard and auditors’ performance. The study brought to the limelight the positive relationship that exists between audit standards in general and auditors performance in the Nigerian banking industry. Also, there are so many critics to the International Auditing Standards. The study therefore recommends more clarifications and interpretations to this standards to help improve the performance of auditors