Audit Independence and Non-Financial Performance of Deposit Money Banks in Nigeria

Adu Cecilia Adurayemi; Ejiks Oluwakemi Lateefat

doi:10.59890/ijma.v3i3.140

Authors

Adu Cecilia Adurayemi Department of Accounting and Finance, Crawford University, Igbesa, Ogun State, Nigeria
Ejiks Oluwakemi Lateefat Department of Accounting and Finance, Crawford University, Igbesa, Ogun State, Nigeria

DOI:

https://doi.org/10.59890/ijma.v3i3.140

Keywords:

Audit Independence, Non-Financial Performance, Customer’s Satisfaction, Auditor’s Tenure

Abstract

This study examined the effect of audit independence on the non-financial performance of the Deposit Money Bank in Lagos. For this study, the researcher employed primary data by utilizing survey data from 100 respondents, while regression analysis was employed as the analytical method. The first model examined the relationship between auditor tenure and customer satisfaction, revealing a statistically significant effect (R² = .421, F (5, 144) = 11.32, p< .001). It was recommended that deposit money banks should strategically manage auditor tenure to leverage the benefits of accumulated expertise and improved audit quality while implementing safeguards to maintain auditor independence.

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