Effect of Social and Environmental Audit in Contemporary Economy- Nigerian

Oraka, Azubike O. O., Erhirhie Felix Erhinyoja, Ezejiofor, Raymond A.

Abstract


This study examines the social and environmental auditing on sustainable development in Nigeria. The specific objectives are to: ascertain whether social and environmental auditing can be used to determine the perceptions of society toward the operations of business organizations in Nigerian economy; evaluate the effectiveness of social and environmental auditing system in investment appraisal of business organizations in Nigerian economy and determine the level of adoption of social and environmental auditing among business organizations in Nigeria. Three hypotheses were formulated in line with the objectives of the study. Survey research design was adopted. Data were obtained from questionnaires and analyzed with five points Likert scale and the three hypotheses formulated were tested using t-test statistical tool with the aid of SPSS statistical package version 20.0. From the analysis, the study found that social and environmental auditing enhanced in determining the perception of society toward business organizations in the Nigerian economy,  also that the effectiveness of social and environmental auditing system aid investment appraisal in business organizations in Nigerian economy. Another finding is that the level of adoption of social and environmental auditing has influence on the operations of the business organization in the Nigerian economy. Based on the findings, the researcher recommends among other things that manufacturing companies should focus on those environmental friendly policies to enhance their competitiveness which would subsequently lead to high corporate performance; this will bring about good environmental sustenance

 


Keywords


Auditing, social and environmental audit and sustainable development and investment appraisal

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