Big Four: These Are The Auditors Earning Billions From Nigerian Banks - Business (5)

Big Four: These Are The Auditors Earning Billions From Nigerian Banks - Business (5) - Nairaland

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Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by DonroxyII: 5:00pm On Sep 25, 2021

Vision101:
@Yankiss
Doesnt Nigerians have companies that can carry out independent audits? Well, the Nigerian factor would mess up everything. They fit carry style yahoo the whole bank accounts in the name of audit. ;

@me
These are world renowned firms. The figures of the banks are used all over the world. The assurance of truth is rested on the auditor's certification.

If you take a decision based on the figures and it comes out wrong as a result of manipulation, you can sue them.

It's not everything that the Nigerian factor apply.

Only the Shareholders can sue them they have no responsibility towards the Public. The introductory paragraph of the Auditor's Report clearly states those who the Report belong !!

It's part of mechanism of limiting auditor's liabilities such that no every Tom, dick a Harry will be suing Auditor's up and down due to error in investment decisions as a result of reliance on the Audited Financial Statement.

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by Vision101(m): 8:43pm On Sep 25, 2021

@DonroxyII
Only the Shareholders can sue them they have no responsibility towards the Public. The introductory paragraph of the Auditor's Report clearly states those who the Report belong !!

It's part of mechanism of limiting auditor's liabilities such that no every Tom, dick a Harry will be suing Auditor's up and down due to error in investment decisions as a result of reliance on the Audited Financial Statement.

@me
No sir. The auditor has fiduciary duty to any member of the public who places reliance on the auditor's report of the financial statement of an entity.

His report is to the members of the company because they engaged him but he owes duty of care to the user of the financial statement who places reliance on his opinion on the statement.

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by casppyjay: 8:21pm On Jan 06, 2022*

stevedre:
You do have a valid point. Honestly the biggest scams commited in big firms and top government agencies all over the world.

They call "bribery" lobbying and "scamming" aiming for national interest or national security.

I think proxies using the names of all this big firms handles Nigerian banking systems because how can our banks be always charging customers for silly reasons but these super power auditing firms act like its all good.

There must be some back door romance going on between the Top staffs of the bank and auditig firms because it is only in Nigeria you will save 100k in a "savings account" by January but find 95k left at the end of the year, that is if you are lucky because it can be less.

I stand to be corrected though, just poured my mind.

Hafa happy new year ..abeg give me ur WhatsApp number I will call u today unfailingly

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by stevedre: 11:30am On Mar 05, 2022

casppyjay:
Hafa happy new year

Wish you the same. How's everything

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by casppyjay: 3:19pm On Jun 19, 2022

stevedre:
You do have a valid point. Honestly the biggest scams commited in big firms and top government agencies all over the world.

They call "bribery" lobbying and "scamming" aiming for national interest or national security.

I think proxies using the names of all this big firms handles Nigerian banking systems because how can our banks be always charging customers for silly reasons but these super power auditing firms act like its all good.

There must be some back door romance going on between the Top staffs of the bank and auditig firms because it is only in Nigeria you will save 100k in a "savings account" by January but find 95k left at the end of the year, that is if you are lucky because it can be less.

I stand to be corrected though, just poured my mind.

give ur WhatsApp number bro

Re: Big Four: These Are The Auditors Earning Billions From Nigerian Banks by casppyjay: 4:02pm On Jun 19, 2022

stevedre:
You do have a valid point. Honestly the biggest scams commited in big firms and top government agencies all over the world.

They call "bribery" lobbying and "scamming" aiming for national interest or national security.

I think proxies using the names of all this big firms handles Nigerian banking systems because how can our banks be always charging customers for silly reasons but these super power auditing firms act like its all good.

There must be some back door romance going on between the Top staffs of the bank and auditig firms because it is only in Nigeria you will save 100k in a "savings account" by January but find 95k left at the end of the year, that is if you are lucky because it can be less.

I stand to be corrected though, just poured my mind.

hafa