BANK DISTRESS NATURE, CAUSES, IMPLICATION AND ASSOCIATED AUDITOR’S RESPONSIBILITY

The write – up looks into “bank distress, nature and cause, implication and associated auditor’s responsibilities”. The importance of banks in the economy cannot be over emphasized bank occupy a critical place in a complex financial system that supplies the money and credit needed for the economy. The development of banking system is seen by both the banking institutions and non – banks financial institution as a critical factor in economic development. However, the ability of banks to promote growth and development depends on the extent to which financial transactions are carried out with trust and confidence and least risk.