(A CASE STUDY OF FIRST BANK OF NIGERIA)
ABSTRACT
This study was on the “Audit Report and it’s Impact on the Activities of Business Organizations in Nigeria” a case study of First Bank of Nigeria Plc, Ikot Ekpene, Akwa Ibom State. The project evaluated empirically the possible relationship that exists between the audited report and how it affects the performance of First Bank Nigeria Plc, in terms of it’s share price. The objectives of the study was to determine whether the audit report has any effects on the performance of a business, To determine whether the informational content of the audit report is relevant to users and to determine whether the audit report affects the share price of the bank. A sample size of the thirty three (33) was used. Data were collected through the use of questionnaire. Simple frequency, percentage and table was used to analyze the data. From the study, it was observed that audit report has a great impact on the performance of a business. The audit report also affects the share price of a business. It was therefore recommended that, banks should endeavour to prepare their financial statements in accordance with the laid down accounting principles in order to avoid a qualified audit report.
INTRODUCTION
1.1 Background of the study
The word “audit” came from a latin word “audire” meaning to hear. Auditing was known to have existed from the time of ancient civilization of china, Egypt and Greece; etc. during the period, every public officer must account for everything given on trust by simply reading them out to those who have need of such information.
