FORENSIC AUDIT AND PERFORMANCE OF SELECTED AGRIBUSINESS ENTERPRISES IN OYO STATE, NIGERIA

AJIBOYE,, JANET OLAJUMOKE (2022) FORENSIC AUDIT AND PERFORMANCE OF SELECTED AGRIBUSINESS ENTERPRISES IN OYO STATE, NIGERIA. Masters thesis, Landmark University, Omu Aran, Kwara State.

Text AJIBOYE JANET AJIBOYE FINAL MSC THESIS AFTER CORRECTION.docx Download (299kB)

Abstract

This study examines the relevance of forensic audit and performance of selected agribusiness enterprises in Oyo state, Nigeria. Cross-sectional data were used for this study. A purposive sampling procedure was employed to select 73 respondents for the study. The analytical tools used in the study are Descriptive Statistics, Probit Model and Multivariate Regression. The result from the descriptive analysis revealed that the majority of the auditors were between the age of 35-44 years. Most of them were male (74%) with 88% B.Sc./HND degree. Almost 18% of the auditors has ICAN/ACCA professional qualifications while 12% had MSc. Degree. It is also observed that most of the auditors, (64%) had auditing experience between 6 and 10 years. It is also noted that majority (64%) of the selected agribusiness enterprises were medium scale between 20- 99 number of employees. Agro-allied industries were the major (44%) agribusiness enterprise in the study area. Analytical proficiency, critical thinking, auditor’s independence, understanding of the business goal, training and development of auditors were the core competency skill possessed by the respondent. The Probit model revealed that age of enterprise, size of enterprise, nature of business, corporate policy real annual revenue, real annual labor productivity and ownership status has positive and significant relationship with the choice of using a forensic auditor, which means that any additional increase in any of these significant variable inputs will result in the probability of using a forensic auditor in the selected agribusiness enterprises. The estimated response parameters for the perceived factors that determines the performance of forensic and non-forensic auditor were found to be religion, conscience, fear of sanction, motivation, environmental factor and feedback. The Probit model revealed that age of enterprise, size of enterprise, nature of business, corporate policy real annum revenue, real annual labor productivity and ownership status has positive and significant relationship with the choice of using a forensic auditor, which means that any additional increase in any of these significant variable inputs will result in the probability of using a forensic auditor in the selected agribusiness enterprises. capital structure (CS1, CS2), firm size (FZ1) and growth rate (GR) has significant relationship with return on asset (ROA) while capital structure (CS2,) firm size (FZ1, FZ2) and infrastructure equipment and technology (IET) has significant relationship with return on equity (ROE). The result of the analysis also provides an insight that capital structure (CS2, CS3), firm size (FMZ) and total asset, infrastructure equipment technology (IET) and financial management capacity (FMC) has positive relationship with the performance of the enterprises. The implication of this results implies that potential adaptive measures that can be taken to increase the overall performance of the selected enterprise include, improving the growth rate (GR), maximizing the total assets (FZ2), maintaining infrastructural equipment and technology (IET) and improve the financial management capacity (FMC).

Actions (login required)

View Item