MANAGEMENT OF FUNDS IN BANKING INDUSTRIES

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MANAGEMENT OF FUNDS IN BANKING INDUSTRIES

ABSTRACT

This study focuses on fund management in the banking industry, using a case study of Skye Bank plc on Market Road in Onitsha, Anambra State. Some of the issues addressed in this study include determining whether auditors contributed to distress in the banking industry, whether fraud or bad debts caused distress in so many Nigerian banks, and how auditors can prevent banks from going into distress.

This study’s objectives, among others, include:

To determine whether auditors are contributing to financial distress in the banking industry.

Auditors face challenges in dealing with hardship in the financial industry.

The researcher thus proposes that auditors create audit materials in such a way that no material fraud or error goes uncovered. He must implement internal checks and balances and/or reporting systems for shareholders and members of the public via publications and newspapers, annual financial positions of banks, balance sheets, and annual reports.

Finally, auditors should exercise extreme caution while carrying out audit assignments to avoid bank distress.

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