Determinants of demand and supply of accounting and audit services in SMEs: Evidence from Nigeria
Vol. 14, Nr. 3/2015 , 546-574
Author(s):
Semiu Babatunde Adeyemi
Sunday Obah
Ini Etete Udofia
Keywords:
SMEs, accounting and auditing services, theory of inspired confidence, agency theory, Nigeria
Abstract:
The study investigated the factors that determine thedemand and supply of accounting and audit services in small and mediumenterprises (SMEs), with evidence from Lagos, Nigeria. It also sought to knowwhether accounting and audit services contribute to the success of SMEs. Thestudy made use of survey design. Using a structured questionnaire, evidence wascollected from 380 respondents comprising of 300 SME owner-managers and 80accounting firms. The data collected were analysed using both the descriptiveand inferential statistics. The research findings indicated thatowner-managers’ characteristics, legal structure, education of managers,possession of accounting skills by managers and capital structure influencedemand, while legal structure, attitude towards marketing, Government policyand owner-managers’ characteristics influence supply of accounting and auditservices. Findings also indicated that services of accountants and auditorshave significant influence on the success of SMEs. The study recommended that owner-managers ofSMEs should be given proper orientation on the importance of accounting andaudit services to the success of their business. It was also recommended thatGovernment should make the preparation and filing of audited accounts of SMEsmandatory, especially in order to render financial assistance to SMEs with aview to enhancing their socio-economic relevance. Accountants were also advisedto take their services to the SMEs rather than waiting for the SMEowner-managers to voluntarily call for their services.
Download:
http://online-cig.ase.ro/jcig/art/14_3_5.pdf
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