International Journal of Economics, Business and Management Studies

Volume 6, Number 2 (2019) pp 261-271 doi 10.20448/802.62.261.271 | Research Articles


Creative Accounting, Audit Risk and Audit Failure in Nigeria: What is the Auditor’s Perspective?

Nwaorgu, Innocent Augustine 1 

Abiahu, Mary-Fidelis Chidoziem 2

Iormbagah, Jacob Aondohemba 1 

Egbunike, Patrick Amaechi 4
1 Department of Accounting, College of Management Sciences, Michael Okpara University of Agriculture Umudike, Umuahia, Abia State, Nigeria.
2 Research and Technical Department, Institute of Chartered Accountants of Nigeria, Lagos, Nigeria.
4 Department of Accounting, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.


Creative accounting has taken a centre stage in the discussions around audit failures on the global stage. Several researches have sought to proffer solutions that aid organizations to avoid the potholes. This study however examined the Auditors’ perspective on the effect of creative accounting practices on audit risk and audit failure in Nigeria. The study employed survey research design using the Chi-square to analyze data gathered from questionnaires distributed to 115 practicing auditors from different geo-political zone in Nigeria. The findings of the study revealed that creative accounting has a significant effect on audit risk with a non significant effect on audit failure. Based on the results obtained from this study it is recommended that, Auditors should ensure that detailed attention is given to the detection of creative accounting practice by managers during the course of audit practice. Also, auditors must make sure that they adhere strictly to the dictates of the International Standards on Auditing in order to avoid failure of audit.


Audit risk Auditors’ perspective Creative accounting Earnings management International standards on auditing.


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