1Head of, Department of Financial Studies, Redeemer's University, Pmb 230, Ede, State of Osun, Nigeria
2Doctoral Student, Department of Accounting, Bowen University, Iwo, Osun State, Email: femmyakns@gmail.com
This study focuses on the relevance of audit report in financial institution of selected commercial banks in Nigeria, it is a survey research based on primary data, and this data were obtained by distribution of One hundred and fifty (150) copies of questionnaire to five selected commercial banks. The Banks were selected using Purposive sampling method. The Data obtained from the questionnaire were analysed using Frequency tables and Chi-square statistical tool, and the result of the analysis show that there is significant relationship between monitoring mechanism used in most of the quoted commercial banks and the performance of the commercial banks, based on this analysis the study recommend that management of the selected commercial banks must ensure whatever monitoring mechanism chosen by the bank are careful scrutinize so that banks performance would not be affected, since both variables have direct influence on each other.
Audit report, monitoring mechanism, financial report, transparency, accountability
