DETERMINANTS OF AUDITORS SWITCHING OF DEPOSIT MONEY BANKS IN NIGERIA

Abstract

This study examined the determinants of auditor switching in deposit money banks with a focus on the roles of audit fees, firm complexity, audit tenure and change in management on auditors switching. Ex-post facto research design was adopted. Data were extracted from the thirteen (13) deposit money banks annual reports and accounts listed on the Nigerian Exchange Group for the years 2013 to 2022. Data obtained were analyzed via descriptive statistics and Binary panel probit regression analysis. The results showed that audit tenure had a negative and significant relationship with auditors switching. The study also found that audit fee, firm complexity, and changes in management had a negative but insignificant relationship with auditors switching. The study concluded that audit tenure is a significant determinant of auditor switching in Nigerian deposit money banks, and that regulatory authorities should endeavour to monitor that the approved length of time for companies external auditors are adhered to