Enhancing Public Confidence in Auditing Report of Internal Revenue Services: A Discourse

Abstract

The potentials of auditing report in decision making and organizational
policy formulation cannot be underestimated. Therefore to ensure the
effectiveness of these reports, public confidence factors must be adequately
considered. The primary aim of this study was to discuss possible measures
for the enhancement of public confidence in auditing report of Internal
Revenue Service: A case of Akwa Ibom State Internal Revenue Service.
Cross-sectional approach was utilized to examine the secondary data. It
was gathered that public confidence about the auditing report can be
enhanced by reinforcing management of audit firms; allowing access to
the easy assessment of audit quality from the viewpoints of third parties;
enhancement of information regarding content of audit; ensuring
absolute independence of audit firms; and improvisation of structural
mechanisms to effectively outline or allow total access to auditing firms
for accurate organizational performance and financial positions. Other
measures are ensuring proficiency and reputation of the auditors in
interpreting organizational changes and situation promote public confidence in auditing report and establishment of audit committee within the key stakeholders in the service. These will ensure effective monitoring
role to assure the quality of auditing reporting and corporate
accountability