Abstract
This project examines the role of auditors report in corporate governance. The problems, challenges, prospects of auditing and corporate governance looked. As a worldwide phenomenon, they have continued to generate divergent views among scholars. The data used comprises of primary data, which consist of self-administered questionnaires and oral interview of some of the respondents. To achieve the purpose of the study, a survey of ten selected companies quoted in the Nigeria to give a true and fair view of companies, It was also discovered that good corporate governance practices builds confidence in investors and encourages stable investment and also auditing and corporate governance are used as a tool of control by management in the achievement of its objectives. It is imperative for Nigeria to adequately address the challenges of these issues for the benefit of the economy.
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Auditing and corporate governance as a good tool or form of control in organizations, are gaining more recognition in Nigeria today, due to the fact that organizations are striving to achieve their vision and mission. The company and Allied Matter Act 1990 (as amended) has made it compulsory for an audit report by an independent auditor to be presented alongside the financial statement of companies which are presented during their Annual General Meetings (AGM).According to the auditing standards, an audit is an independent examination of and expression of an opinion on the financial statement of an enterprise.
It is an examination by an auditor of the evidence from which the final revenue accounts and balance sheet of an organization at the end date, thus enabling the auditor to report thereon.Where organizations are left audited, it would give rise to indiscipline and non-accordance to standard accounting and auditing practices. Long before the highly publicized corporate scandals and failures worldwide, the Nigerian public has shown increasing concern on the issues of corporate governance, because it has a link to national growth and development.Corporate governance has been defined as the way and manner in which the affairs of companies are conducted by those charged with the responsibility. It is a system that ensures optimal utilization of resources for the benefits of shareholders while meeting societal expectations.