Select Currency
Translate this page


Format: MS WORD  |  Chapter: 1-5  |  Pages: 75  |  607 Users found this project useful  |  Price NGN3,000






Auditing as a profession is carried out by an accountant in public practice. Accounting is a profession; Professions have certain characteristics including ethical codes and rules of conducts. Hence, professional conduct is frequently found in auditing examination, as examiners see auditing papers as a suitable vehicle for examining ethics, even when they do not specifically relate to auditing. Therefore, auditors are members of recognized professional bodies of Accountancy, who are into public practice and are also required to observe proper standards of professional conduct whether or not the standards required are written or unwritten. They are specifically required to refrain from misconduct which is difficult to define precisely but which includes any act or default which is likely to bring discredit to himself, the professional body he represents or the profession generally. In this wise, in May 2000, the Institute of Chartered Accountants of Nigeria reviewed an existing document issued in November, 1979 embodying a code of conduct for its members. This document is titled “Rules of Professional Conduct for Members”.  This rules stipulate, independence and conflicts of interest  in sections A and D respectively which is the core of this research work. On this ground, auditor’s independences is greatly important in accounting profession. This is very much an attitude of mind and objectivity rather than a set of rules.

Independence implies one’s ability to act with integrity and exercise objectivity and professional skepticism. More also, independence is not-for-profit governance is critical to promote ethical behaviour and reliable financial reporting. With direct contacts to the management team and the auditing firm, the audit committee is quite possibly in the best position to monitor an organization’s compliance with independence standards. Independence is not just something that is a matter of fact but it is also something which is a matter of appearance. The question relating to the effective auditors independence started to arise at the inception of the company form of business in the early 17th century. This steadily expanding influence of the auditor arose from the increasing complexity of modern industrial world. The influence is also as a result of greater emphasis on accountability. It is therefore the need of man to refer his actions to judgment by standards he shares with men. In this light, if  professional independence is  strictly adhere to, the  users of  financial statement such as; the  shareholders, potential investors, the  public etc. would  have confidence on the  Audited Financial Statement, who do not in  themselves evaluate the  performance of an auditor. The  long-run effect of  the  public accountancy profession in fact, its very existence and  recognition as a  profession is  dependent upon the  independence, integrity and  objectivity of  the  Auditor. If auditors assume the role of partisan spokesmen for management, they thereby sacrifice their professional status as independent public accountant. In 1920s and 1930s, basically the concept of independence was focused on eliminating conflicts of interest that arose from financial relationship between auditors and their clients.

Thus, conflicts of interest have played a central role in corporate scandals. Therefore, conflicts of interest arise in a situation where the auditing standard is intended to be compromised either by management or the auditor of the company. In other words, it is where individual private interests interfere or appear to interfere with the interest of his company. During the course of performing an auditing service conflict of interest may arise as a result of private interest or activities whether financial or otherwise of an auditor influence the exercise of his or her independence judgment. It may also arise in the following circumstances; outside interests, outside activities and gifts, gratuities and entertainment. To this  end, it  is  essential in  audit relationships that a  clear distinction is  establish between the  role of  the  auditors and his  clients which must be  clearly understood by both parties involved. In some cases, it is noted that auditors performed non-audit services for their clients which might interfere with their audit work and thereby, involved in making executive decisions for the client and could result to a conflict scenario. An auditor in performance of one or more duties for his client is expected to approach his work with integrity, independence and objectivity. In addition, there are instances in which services other than pure audit work to an audit client may or appear to threaten the independence of an auditor such as self-interest, competition between audit firms, advocacy threat etc these threats may opposed to auditors objectivity.


The problem of investigation here is targeted at providing answers to the following questions: To what extent is auditor expected to be independence of his client? Does non-audit service performed by the auditor impair the independence of auditor? Is it possible for conflicts of interest to hinder auditor firm making objective assessments? When does conflict of interest arise and how can these conflicts be resolved? Can auditor practice absolute or true independence? What are the things that pose threats to Auditors independence and how should it be avoided? What should the auditor be independent of? Should management continue to be involved in hiring and firing auditors of a company?


This research work is aim at achieving the following:

To examine the types of threat to auditors independence.

To identify ways of  avoiding independence threat

To known whether auditor should disclose conflict of interest.

To identify ways conflicts of interest can arise during the audit service.

To determine ways of resolving the conflict of interest.

To determine the extent to which auditors can be truly independence in practice.


The topic Auditors Independence and  Conflicts of  Interests. Independence is a  fact finding study which can be  hypothesized on the  following statements:

Ho: Conflicts of interest cannot be  eliminated

H1: Conflicts of interest can be eliminated

Ho: Auditors cannot maintain true independence in audit service of their clients.

Auditors can maintain true independence in audit service of their client’s.

H1: Ho:  The performance of non-audit services to client

undermine auditors’ independence

Ho: The performance of Non- audit services to client does not

undermine auditors’ independence.


The sources of data in this research are classified into categories: The Primary and the  secondary data.

Primary Data: These are the  most important aspect and  in fact the  basis of the  research. It  involves collecting data from field surveys in which questionnaires were used. The questionnaires were directed to some selected audit firm and users of the financial statements like, Bankers, insurers, stockbrokers and accounting graduates.

Secondary Data: The secondary data include existing text books, expert opinion and other published material on internet.


Auditor’s independence, integrity and objectivity has been the  hall mark of  accounting profession for more than centuries. Therefore, this research work will be of relevance in the following ways:

It will re-point the auditors to maintaining their integrity, independence and objectivity.

It assist, shareholders, the  general public and  other to have confidence on audited financial statement.

It will serve for a better understanding of auditors’ independence.

Create a conscious effort on how to avoid conflict of interest.

Assist students, intellectuals and professional institutions to establish a base for contributing to the continuous debate on auditor independence.


This Study centered on the theoretical framework on which auditing practice is founded. This is to create a conscious mind in Auditor of the relevance of independence in auditing and how conflict of interest can be prevented from it occurrence during audit service. The dynamic nature of auditing as a discipline necessitates changes in view with time. However, this research work is restricted to a period of decade i.e. from 2000-2009.


In writing a project of this  nature, there are some constraints that actually limit the  extent to which the  research work should have been carried out. Insufficient Material: Although there were a lot of materials on the topic but most of writers talked more on Auditors Independence and conflicts generally. Only very few writers related conflicts of interest to audits. Lack of  in-depth knowledge: Conflict of  interest as it  relate to auditing was not adequately depth with by the  writers and how it affects auditors independence. It was below our expectation. Fund:  Because of the high cost of associated with internet air time, we were unable to browse for a longer time to reduce cost in order to enable us meet other project expenses. Therefore, the extent to which a study of this nature could be pursued is bound to be curtailed.


In the process of writing this research some concepts were used. This section of the chapter is therefore devoted to clarifying such concepts as they relate to the study. They are clearly defined below in an alphabetical order:

CONFLICTS OF INTEREST: Is any relationship that is or appears to be not in the best interest of the company. It could also, be a situation that prejudice an individual ability to perform his or her duties and responsibilities objectively.

DISCLOSURE OF CONFLICT OF INTEREST: In the context of this study, disclosure of conflict of  interest is also referred to as auditor’s fee and other things such as; gifts, outside activites, entertainment etc. that are capable of resulting to a conflict situation.

INDEPENDENCE CONCEPT: Is the  ability of an auditor to report fearlessly to members of company (shareholders), without the  management or third party influencing his decisions as to whether to qualify or not to qualify his audit report know as reporting independence. While independence, is freedom from being biased in the expression of an opinion. It is purely an attitude of the mind characterized by integrity and objectivity.

INTEGRITY: Is referred to as the quality of being honest and having moral principle.

NON-AUDIT SERVICE: Is a situation whereby an auditor performed other services for his client during the auditing work.

OBJECTIVITY: Is a state of not being influenced by personal feelings or opinions, considering only facts. It is a state of mind that requires auditors to be impartial, intellectually honest and free of conflicts of interest.

PROFESSIONAL RESPONSIBILITIES OF INDEPENDENT AUDITOR: This means responsibility to his client (the company) and to the third parties (shareholder or investors).

ICAN: Means Institute of Chartered Accountants of Nigeria, a professional body of accountancy.


Not What You Are Looking For?

For Quick Help Chat with Us Now!

+234 814 010 7220

+233 541 351 187

Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Swift delivery within 9 minutes of payment. Thank you project master
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.


  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on +234 814 010 7220 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.


How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 814 010 7220

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!