RELATIONSHIP BETWEEN QUALITY OF AUDIT AND PERFORMANCE OF COOPERATIVE SOCIETIES IN ODO OTIN LOCAL GOVERNMENT AREA OF OSUN STATE, NIGERIA

Abstract

The research investigates the impact of audit quality on the performance and accountability of OdoOdin Local Government area cooperative society. The study is aiming at examining the effects of quality audit on Odo-Odin Local Government cooperative performance, the study intends to determine the extent at which internal audit affect Odo-Odin Local Government cooperative performance, the study also investigates how the quality of audit impacted on Odo-Odin Local Government area cooperative society. Descriptive survey research design was employed to achieve the objectives of the study. The research used one hundred and thirty (150) copies of questionnaire for the analysis of data collection. The correlation result indicated a substantial and strong association between Odo-Odin Local Government cooperative society performance and audit quality [r (150) = 0.674, p0.01] 67.4 (67.4%).The performance of the Odo-Odin Local Government cooperative society and audit quality are positively and significantly correlated. According to the correlation analysis, [r (150) = 0.341, p0 .01] There is a considerable correlation between the conduct of the audit and the cooperative society for Odo-Odin Local Government (34.1, or 34.1%). Statistics were obtained from the Okuku Odo-Odin Local Government Area. The research's findings were presented using regression analysis. The report suggests that Nigerian corporate auditors work as expected and that professional bodies always keep an eye on governmental acts and raise awareness of practices that can make it difficult for auditors to carry out their duties effectively, particularly when auditing cooperative societies in Nigeria. It was also suggested that corporations increase the frequency of their audit committee meetings.