Anatomic enhancement in bank going concern opinion
by Jonathan Njoku
International Journal of Critical Accounting (IJCA), Vol. 5, No. 5, 2013

Abstract: This paper aims to indicate the relevance of anatomy of bank financial condition in enhancing bank going concern opinion. Within the lens of the audit risk model, implying the need to confer credibility to financial statements, statutory audit pursues processes leading to audit opinion to reflect the going concern status of an audited entity. Critically, the demise of banks with clean audit report during the 2008-2009 global banking crises suggests the need to strengthen the current basis for formulating audit opinion with factors which prove useful in characterising the underlying nature of bank financial condition. Previous studies identified these anatomic factors as market presence, macro-economic condition, deposit fragility, prudence, earnings quality, market power and capital confidence (Njoku and Inanga, 2010). Incorporating these factors in the auditor's judgement process should enhance the effectiveness of audit opinion.

Online publication date: Tue, 29-Apr-2014

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