Abstract
This study meta-analytically pooled and synthesized thirty studies related to ethical compliance and locus of control in the light of auditors’ independence and public and professional commitment. This was informed by the increasing corporate and audit failures recorded in the early 2000s despite existing professional ethics. Qualitative information were obtained from synthesized related studies and coded into quantitative data for analysis. The translated data were tested using OLS with the E-view 9 software for correlation and regression analyses. The regression analysis revealed a strong positive relationship between locus of control and ethical compliance, hence, the only hypothesis in the study was rejected, and the conclusion of the study is that, “ethical compliance is a function of an individual accountant or auditor’s locus of control”. Consequently, the study recommends that professional bodies and institutions should consider personality factors in the setting and implementation of professional ethics.
Highlights
The corporate world is inundated with several instances of corporate scandals, with cascading multiplier effect
This study meta-analytically pooled and synthesized thirty studies related to ethical compliance and locus of control in the light of auditors’ independence and public and professional commitment
The regression analysis revealed a strong positive relationship between locus of control and ethical compliance, the only hypothesis in the study was rejected, and the conclusion of the study is that, “ethical compliance is a function of an individual accountant or auditor’s locus of control”
Summary
The corporate world is inundated with several instances of corporate scandals, with cascading multiplier effect. The Too Big to Fail (TBTF) policy initiated in the United States of America was a fallout of public measures aimed at containing the catastrophic multiplier effects of giant corporate failures This is indicative of the global nature of this problem. Geared towards quarantining of this virus have not yielded the required result What this scenario indicates, is the obvious fact that it is a human problem, as history has taught us over time the fact that human cravings can undermine even the best of laws and compromise the most efficient system. Psychologists have observed that even under peer group influence, the individual cognitive frame plays a significant role This probably accounts for the fact that not all persons working in the corporate world or other settings are involved in unethical conducts. Zuode study did examine locus of control and ethical compliance amongst professional auditors
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