Abstract:
The study seeks to examine the impact of auditor independence on accountability and transparency of corporate organization in Nigeria. There are factors that constitute threats to the independence of an auditor. The literature development was guided by the credibility theory, Theory of inspired confidence, Agency theory and the Quasi-judicial theory. The exploratory assessment method was adopted in this study. The study used the secondary method of data collection basically sourced from journals, internet and other relevant publications; which includes a survey of published research. The study had the following research questions: Are there threats to auditor independence that affect accountability and transparency in corporate organizations in Nigeria, How crucial is auditor independence as regards the reliability of financial information reported to the public (stakeholders) and if auditor independence affect audit quality in corporate organizations in Nigeria. The study found out that there are threats or impediments to auditor independence. The independent auditor performs a key function in ensuring that the public (stakeholders) rely on financial report. The study also revealed that audit quality is affected by the auditor independence; increasing the independence of auditor is to contribute to improving the quality of the audit. The study concludes that auditor independence has an impact on accountability and transparency of corporate organization in Nigeria. The study therefore recommends that there should be more framework on auditor independence, study should be carried out on the factors that lead to the threat of auditor independence and how to mitigate them and study should also be carried out on accountability and transparency as it affects audit.
