Impact of Auditing on Deposit Money Banks' Performance in Nigeria: A Study of Selected Institutions

This study examined the impact of auditing on deposit money banks' performance in Nigeria. The return on assets as the dependent variable was used to proxy the financial performance of the deposit money banks in Nigeria, while auditing, audit quality, and auditor tenure were used to capture the independent variables. This study was achieved by using the traditional measures of performance that are normally found in the banks' published annual reports and comparing them to other contemporary measures of performance. Data for the study was collected from the annual reports of seven listed deposit money banks for a period of seven years, ranging from 2014 to 2020. The data obtained was analyzed using descriptive statistics and the analysis of variance (ANOVA) statistical technique. The ndings revealed that auditing, audit quality, and auditor tenure have a statistically signicant impact on the nancial performance of these banks. The study therefore recommends, among others, that regulators should establish and enforce robust regulatory frameworks to promote transparency, accountability, and integrity in auditing practices within the Nigerian banking sector. This includes implementing stringent requirements for auditor rotation, enhancing transparency in auditor selection processes, and enforcing penalties for non-compliance.