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The study aimed at finding the relationship between audit quality, abnormal audit fee and auditor attributes. The study employed ordinary least square regression technique to analyze the relationship between the dependent and independent variable. Samples of fourteen banks were selected using judgmental sampling technique. The results reveal the existence of positive relationship between abnormal audit fee and audit quality at 5%. Second, the influence of auditor independence on quality appears to also be positive and significant at 5%. Third, the effect of Auditor tenure on audit quality appears to be positive and insignificant at 5%. The study recommended that apex bank should ensure that all factors that hamper auditor independence should be removed unduly long auditor tenure should be discouraged to avoid over familiarity of auditor with the client.

Purpose: Micro, small and medium-sized enterprises (SME) are the engines that propel the world economy; they are essential sources of jobs, they create entrepreneurial spirit and innovation in the economy and are thus crucial for fostering competitiveness and creativity. The objective of this study therefore, is to ascertain the need for International Financial Reporting Standard for Small and Medium Enterprises (IFRS for SMEs) instead of Statement of Accounting Standards (SAS), to ascertain the extent to which IFRS aids managements in attaining goals and objectives as well as improving its market share and to ascertain the challenges for Non-compliance (causes and penalties) with international financial reporting standard for Small and Medium Enterprises.Methodology: Analysis of variance (ANOVA) was used to test hypothesis.Results: The findings were; a major factor why IFRS is adopted by Nigeria is because other countries have adopted it, the size of entities to participate in IFRS for SMES varies, adopting a globally accepted financial reporting is relevant to small firms as they operate in a globalized world.Policy recommendation: This study recommends that the IASB should ensure full implementation/compliance of IFRS for SME by companies that fall under that category, the cost of acquiring IFRS education should also be subsidized for small firms by major accounting regulatory bodies in Nigeria.