IMPACT OF ONLINE BANKING ON EXTERNAL AUDIT WORK IN MONEY-DEPOSIT BANK IN NIGERIA...

CHAPTER ONE 
INTRODUCTION 
1.1 BACKGROUND TO THE STUDY
In the past few years, banking activities in Nigeria have increasingly depend on the development of information and communication technology customers insatiable appetite for institutions to fast. Forward to a more radical transformation of the business system and model by embracing online banking. Online banking is growing rapidly and the global acceptance has reinforced the spread of penetration. Electronic banking has been around and transform by the internet. A new delivery channel for banking service that benefits both customers and banks access is fast convention and available round the clock, where the customer is located. Also, bank can provide other services efficient and act substantially cover cost. The banking sector play a central role in the economy development of any nation and is therefore objective of regulation in the banking industry is to protect the interest of depositors who are the primary stakeholder in the industry. The regulation of the banking sector has in the banking law and the financial institution according to BOFIA (1991) is usually coordinated by the central bank (CBN). However, other regulations are properly coordinated while the central bank and other regulation are directly responsible for the attainment of the objectives, auditors are responsible for auditing of these institution. 
1.2 STATEMENT OF RESEARCH PROBLEM 
We appreciate the fact that Nigeria banks include the financial service, industry cannot afford to be indifferent to the wind of technology innovation blowing across worldwide and staff competition, it has engender. However, the introduction of online banking in Nigeria has brought a number of issues raised the external auditor concern. 

1.3 RESEARCH OBJECTIVES 
To ascertain the impact of online banking on external audit work on money deposit especially in Nigeria and the contribution to the growth of the economy without any fear or favour the auditor or the audit work must be done with a view of giving a true and fair view of any account. Therefore, the following are some of the objectives of this research work. 
1. To establish an understanding of the risk involve in online banking pose to the user. 
2. To ensure that management established an institute to control the risk arising from the internet banking and other type of risk. 

1.4 RESEARCH QUESTION 
The study is carried out to address the following question; 
1. What risk does online banking pose to the user? 
2. How can online banking be used to determine whether management has institute controls that are appropriate to the type and level of risk arising from internet banking?