The study examines auditor’s legal responsibility and its impact on accounting profession. A survey research design was adopted in the course of the study. The study used a sample size of 49 which was selected from a total population of 89 using Ali, Eyo and Sowande (2000) sample size selection technique. The total population from which the samples size was derived are the population who are legally registered accountants with institute of charted account (ICAN). Questionnaire was the main data collection instrument used for the collection of field data from the respondents. Field data were collected from respondent in three different Geo-political zones (South west, South south and South East) which formed the area for the study. The field data collected from the respondent were all presented in tables and analysed using Regression analysis. The finding shows that auditor’s legal responsibilities such as detection of fraud, prevention of fraud and error etc have positive effect on accounting profession. The result also indicated that auditors play vital role in auditing financial record of organization in other to balance financial account, check and detect financial fraud and also authenticate the correctness of financial information passed to it end users as one of the functions of the legal responsibilities of auditors in accounting profession. It is recommended in the research that auditors should be conscious of their legal responsibilities in accounting profession during auditing activities, it was also recommended that auditors should be free from the influence of internal or external factors which could affect their profession negatively, hence, auditors should always authenticate financial statements in order to be credible in accounting profession.
Auditor’s Legal Responsibility, Impact on Accounting Profession
Ogujiofor Magnus Nkemjika , Ashibogwu Nze Kingsley , Omokoh Macmillan Omoma , Monye Osita "Auditor’s Legal Responsibility and Its Impact on Accounting Profession" Iconic Research And Engineering Journals Volume 5 Issue 3 2021 Page 1-19
Ogujiofor Magnus Nkemjika , Ashibogwu Nze Kingsley , Omokoh Macmillan Omoma , Monye Osita "Auditor’s Legal Responsibility and Its Impact on Accounting Profession" Iconic Research And Engineering Journals, 5(3)