IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 5 NO. 1 2019

---

Challenges of Corporate Governance in Nigeria: The Roles of Auditors and Institutional Investors

Joseph. U. B. Azubike AND Austin U. Nweze

---

Abstract

Good corporate governance has continually remained necessary as businesses grow and as the principal agent relationship holds sway. The attention that has been drawn to good corporate governance, globally, should also be linked to the spate of business failures in both advanced and growing economies. To this end, the collapse of Enron and WorldCom readily come to mind. The activities that would lead to good corporate governance in any business should not be taught of as the “headache” for only the board of directors and management. Other stakeholders such as institutional investors, auditors and audit committees have immense role to play in corporate governance. The paper, therefore, presents the challenges facing these stakeholders in corporate governance. It concludes that an appropriate balance should be struck among the various stakeholders in order to ensure integrity and credibility of market institutions. It recommends quality assurance auditing and discourages the outsourcing of internal audit functions to external auditors.

keywords:

Corporate Governance, Audit committees, Institutional Investors

---

References:

Al-Faki, M. (2003). The Challenges of Regulating Shareholders’ Activities, Lagos: Securities
and Exchange Commission.

Al-Faki, M. (2004). Good Governance Essentials for Leadership and Performance, Lagos:
Securities and Exchange Commission.

Bean, J. W. (2004). The Audit Committee’s Roadmap, California.
Central Bank of Nigeria (CBN) (2006). Code of Corporate of Governance for Banks in
Nigeria Post Consolidation, Abuja: CBN

Organization for Economic Co-operation and Development (OECD, 2004). Principles of
Corporate Governance, Paris: OECD Publications Services.

Sanusi, J. O. (2002). Promoting Good Corporate Governance: Issues and Challenges, Abuja:
Financial Institutions Training Centre 18th Annual Directors’ Seminar.

Sanusi, J. O. (2003). Embracing Good Corporate in Nigeria, Abuja: Financial Institutions
Training Centre 19th Annual Directors’ Seminar.

DOWNLOAD PDF

---

Back