Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment

Sani Alfred Ilemona; Sunday Nwite

doi:doi:10.11648/j.jfa.20210901.13

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Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment

Sani Alfred Ilemona, Sunday Nwite

Published in Journal of Finance and Accounting (Volume 9, Issue 1)

Received: 24 December 2020 Accepted: 16 January 2021 Published: 23 February 2021

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Abstract

The study examined the severity of the five (5) major threats to compliance with code of ethics by auditors in Nigerian business environment. These threats are Intimidation Threats, Self interest Threats, Advocacy Threats, Familiarity Threats and self review Threats. Using survey research design, data for the study were obtained primarily through questionnaire deigned to reflect the five (5) point Likert scale. The internal reliability of the constructs on each item of the threats was done using Cronbach’s Alpha coefficient and value above 0.70 obtained for all items of the construct. With random sampling, questionnaires were distributed to 360 auditorsfrom three (3) states of Nigeria namely Kogi, Benue, and plateau states in private practice and in employment of organizations out of which 210 of them were returned with 195 found usable. Responses obtained on the extent to which respondent agree or disagree with the nature and severity of items of the construct on each threat were analyzed empirically using simple percentage of non – parametric statistics and ranking of percentages. Findings indicated that among the threats faced by auditors in the course of their duty, Intimidation Threats (ITs) ranked first and the most severe of all categories of threats. Further correlation analysis revealed a strong, positive and significant relationship between the threats. The study recommended among others that auditors should have adequate and sufficient regard for their career and reputation striving constantly towards objectivity, honesty, and probity. These are traits or character of complete virtue that enable auditors to stand firm against all odds of threats to the profession.

Published in	Journal of Finance and Accounting (Volume 9, Issue 1)
DOI	10.11648/j.jfa.20210901.13
Page(s)	16-22
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Severity of Threats, Code of Ethics, Nigerian Business Environment, Intimidation Threats, Toward Objectivity

References

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APA Style

Sani Alfred Ilemona, Sunday Nwite. (2021). Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment. Journal of Finance and Accounting, 9(1), 16-22. https://doi.org/10.11648/j.jfa.20210901.13

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ACS Style

Sani Alfred Ilemona; Sunday Nwite. Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment. J. Finance Account. 2021, 9(1), 16-22. doi: 10.11648/j.jfa.20210901.13

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AMA Style

Sani Alfred Ilemona, Sunday Nwite. Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment. J Finance Account. 2021;9(1):16-22. doi: 10.11648/j.jfa.20210901.13

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@article{10.11648/j.jfa.20210901.13,
  author = {Sani Alfred Ilemona and Sunday Nwite},
  title = {Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment},
  journal = {Journal of Finance and Accounting},
  volume = {9},
  number = {1},
  pages = {16-22},
  doi = {10.11648/j.jfa.20210901.13},
  url = {https://doi.org/10.11648/j.jfa.20210901.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20210901.13},
  abstract = {The study examined the severity of the five (5) major threats to compliance with code of ethics by auditors in Nigerian business environment. These threats are Intimidation Threats, Self interest Threats, Advocacy Threats, Familiarity Threats and self review Threats. Using survey research design, data for the study were obtained primarily through questionnaire deigned to reflect the five (5) point Likert scale. The internal reliability of the constructs on each item of the threats was done using Cronbach’s Alpha coefficient and value above 0.70 obtained for all items of the construct. With random sampling, questionnaires were distributed to 360 auditorsfrom three (3) states of Nigeria namely Kogi, Benue, and plateau states in private practice and in employment of organizations out of which 210 of them were returned with 195 found usable. Responses obtained on the extent to which respondent agree or disagree with the nature and severity of items of the construct on each threat were analyzed empirically using simple percentage of non – parametric statistics and ranking of percentages. Findings indicated that among the threats faced by auditors in the course of their duty, Intimidation Threats (ITs) ranked first and the most severe of all categories of threats. Further correlation analysis revealed a strong, positive and significant relationship between the threats. The study recommended among others that auditors should have adequate and sufficient regard for their career and reputation striving constantly towards objectivity, honesty, and probity. These are traits or character of complete virtue that enable auditors to stand firm against all odds of threats to the profession.},
 year = {2021}
}

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TY  - JOUR
T1  - Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment
AU  - Sani Alfred Ilemona
AU  - Sunday Nwite
Y1  - 2021/02/23
PY  - 2021
N1  - https://doi.org/10.11648/j.jfa.20210901.13
DO  - 10.11648/j.jfa.20210901.13
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 16
EP  - 22
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20210901.13
AB  - The study examined the severity of the five (5) major threats to compliance with code of ethics by auditors in Nigerian business environment. These threats are Intimidation Threats, Self interest Threats, Advocacy Threats, Familiarity Threats and self review Threats. Using survey research design, data for the study were obtained primarily through questionnaire deigned to reflect the five (5) point Likert scale. The internal reliability of the constructs on each item of the threats was done using Cronbach’s Alpha coefficient and value above 0.70 obtained for all items of the construct. With random sampling, questionnaires were distributed to 360 auditorsfrom three (3) states of Nigeria namely Kogi, Benue, and plateau states in private practice and in employment of organizations out of which 210 of them were returned with 195 found usable. Responses obtained on the extent to which respondent agree or disagree with the nature and severity of items of the construct on each threat were analyzed empirically using simple percentage of non – parametric statistics and ranking of percentages. Findings indicated that among the threats faced by auditors in the course of their duty, Intimidation Threats (ITs) ranked first and the most severe of all categories of threats. Further correlation analysis revealed a strong, positive and significant relationship between the threats. The study recommended among others that auditors should have adequate and sufficient regard for their career and reputation striving constantly towards objectivity, honesty, and probity. These are traits or character of complete virtue that enable auditors to stand firm against all odds of threats to the profession.
VL  - 9
IS  - 1
ER  -

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Author Information

Sani Alfred Ilemona

Department of Accounting and Business Administration, Federal University of Kashere, Gombe, Nigeria
Sunday Nwite

Department of Business Management, Ebonyi State University, Abakaliki, Nigeria

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Sani Alfred Ilemona, Sunday Nwite. (2021). Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment. Journal of Finance and Accounting, 9(1), 16-22. https://doi.org/10.11648/j.jfa.20210901.13

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Sani Alfred Ilemona; Sunday Nwite. Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment. J. Finance Account. 2021, 9(1), 16-22. doi: 10.11648/j.jfa.20210901.13

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AMA Style

Sani Alfred Ilemona, Sunday Nwite. Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment. J Finance Account. 2021;9(1):16-22. doi: 10.11648/j.jfa.20210901.13

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@article{10.11648/j.jfa.20210901.13,
  author = {Sani Alfred Ilemona and Sunday Nwite},
  title = {Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment},
  journal = {Journal of Finance and Accounting},
  volume = {9},
  number = {1},
  pages = {16-22},
  doi = {10.11648/j.jfa.20210901.13},
  url = {https://doi.org/10.11648/j.jfa.20210901.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20210901.13},
  abstract = {The study examined the severity of the five (5) major threats to compliance with code of ethics by auditors in Nigerian business environment. These threats are Intimidation Threats, Self interest Threats, Advocacy Threats, Familiarity Threats and self review Threats. Using survey research design, data for the study were obtained primarily through questionnaire deigned to reflect the five (5) point Likert scale. The internal reliability of the constructs on each item of the threats was done using Cronbach’s Alpha coefficient and value above 0.70 obtained for all items of the construct. With random sampling, questionnaires were distributed to 360 auditorsfrom three (3) states of Nigeria namely Kogi, Benue, and plateau states in private practice and in employment of organizations out of which 210 of them were returned with 195 found usable. Responses obtained on the extent to which respondent agree or disagree with the nature and severity of items of the construct on each threat were analyzed empirically using simple percentage of non – parametric statistics and ranking of percentages. Findings indicated that among the threats faced by auditors in the course of their duty, Intimidation Threats (ITs) ranked first and the most severe of all categories of threats. Further correlation analysis revealed a strong, positive and significant relationship between the threats. The study recommended among others that auditors should have adequate and sufficient regard for their career and reputation striving constantly towards objectivity, honesty, and probity. These are traits or character of complete virtue that enable auditors to stand firm against all odds of threats to the profession.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Accounting Code of Ethics: Severity Analysis of Threats to Compliance of Auditors in Nigerian Business Environment
AU  - Sani Alfred Ilemona
AU  - Sunday Nwite
Y1  - 2021/02/23
PY  - 2021
N1  - https://doi.org/10.11648/j.jfa.20210901.13
DO  - 10.11648/j.jfa.20210901.13
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 16
EP  - 22
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20210901.13
AB  - The study examined the severity of the five (5) major threats to compliance with code of ethics by auditors in Nigerian business environment. These threats are Intimidation Threats, Self interest Threats, Advocacy Threats, Familiarity Threats and self review Threats. Using survey research design, data for the study were obtained primarily through questionnaire deigned to reflect the five (5) point Likert scale. The internal reliability of the constructs on each item of the threats was done using Cronbach’s Alpha coefficient and value above 0.70 obtained for all items of the construct. With random sampling, questionnaires were distributed to 360 auditorsfrom three (3) states of Nigeria namely Kogi, Benue, and plateau states in private practice and in employment of organizations out of which 210 of them were returned with 195 found usable. Responses obtained on the extent to which respondent agree or disagree with the nature and severity of items of the construct on each threat were analyzed empirically using simple percentage of non – parametric statistics and ranking of percentages. Findings indicated that among the threats faced by auditors in the course of their duty, Intimidation Threats (ITs) ranked first and the most severe of all categories of threats. Further correlation analysis revealed a strong, positive and significant relationship between the threats. The study recommended among others that auditors should have adequate and sufficient regard for their career and reputation striving constantly towards objectivity, honesty, and probity. These are traits or character of complete virtue that enable auditors to stand firm against all odds of threats to the profession.
VL  - 9
IS  - 1
ER  -

Copy | Download