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This study is an empirical analysis of the role of Internal audit (IA) in an effective management control in public sector. It examine if effective management can be achieve in local government, IA effectiveness does play a role in... more
This study is an empirical analysis of the role of Internal audit (IA) in an effective management control in public sector. It examine if effective management can be achieve in local government, IA effectiveness does play a role in ensuring effective management in public sector, and If IA effectiveness does affect management control in public sector in Edo State using Z –test statistical tool. The Z-test results shows that effective management can be achieve in local government, IA effectiveness play role in ensuring effective management in public sector, while IA effectiveness does not affect management control in public sector in Edo state. Keywords: Internal auditing; Public sector; management control and effectiveness
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This study seeks to examine the issues of environmental auditing on sustainable development. The quest for industrialization and sustained development in Nigeria and the attendant improvement in the quality of life of the populace has... more
This study seeks to examine the issues of environmental auditing on sustainable development. The quest for industrialization and sustained development in Nigeria and the attendant improvement in the quality of life of the populace has taken its toll on the environment. The domineering influence of economic sophistication on every aspect of living had negative climatic impacts which sustainability sets out to correct. As sustainability pursues equitable distribution of opportunities between present and future generations through conservative use of resources, economic development promotes uncontrolled consumption of resources to increase material wealth. Primary data was collected with the use of questionnaire and the data were analyzed using descriptive statistics method, correlation matrix and binary logit. The study hypothesis was also validated. It was revealed that this result is quite distorting, which implies that the more environmental audit carried out the less the effect ...
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The study examined the issue of audit reporting and going concern in the face of corporate scandals in Nigeria. We adopted the survey research design. An instrument containing 20 items was designed using the 5-point Likert scales ranging... more
The study examined the issue of audit reporting and going concern in the face of corporate scandals in Nigeria. We adopted the survey research design. An instrument containing 20 items was designed using the 5-point Likert scales ranging from strongly agree (5) to strongly disagree (1). A total of 60 samples were drawn from the target population using the simple random sampling technique. Out of the 60 questionnaires administered, 44 were returned upon which the analysis was based. Data analysis was carried out with the aid of SPSS (Statistical Package for Social Sciences). The Chi-square statistical technique was used to test the hypotheses at 5% alpha level. It was found that there are differences in going concern reporting among independent auditors. We also found out using the data analyzed that there is a significant relationship between going concern reporting and corporate failures. The study recommended based on these findings, that all involved in the preparation and audit...
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The broad objective of the study is to examine the impact of ethics on accounting practice in Nigeria. The survey research design was used for the study with an extensive reliance on primary data. The populations of the study consist of... more
The broad objective of the study is to examine the impact of ethics on accounting practice in Nigeria. The survey research design was used for the study with an extensive reliance on primary data. The populations of the study consist of accountants, auditors and management of selected companies. A sample of 147 respondents was utilized. The likert scale questionnaire was used as the research instrument and chi-square parametric was utilized as the data analysis method. The findings indicate that firstly, ethics play a significant role in accounting practice. Secondly corporate governance improves ethical compliance of accounting professionals and thirdly, accounting regulatory bodies influences the level of compliance with ethical standards. The recommendation is that there is a need for ethical standards in accounting practice to extend beyond mere documentation and articulation to effective enforcement of these standards and the concerted efforts by all stakeholders ranging from t...
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This study was carried out to ascertain the relationship between firms’ financial performance and human resources accounting disclosures on one hand, and the differences in human resources accounting disclosures reporting level between... more
This study was carried out to ascertain the relationship between firms’ financial performance and human resources accounting disclosures on one hand, and the differences in human resources accounting disclosures reporting level between financial sector and non-financial sector companies quoted in the Nigerian Stock exchange.The study made use of secondary sources of data in eliciting the required information needed for this research. The sample size consisted of fifty (50) listed firms randomly drawn from all sectors in Nigeria. Multiple Regressions was used to analyze the possible relationship between firm financial performance and Human resource Accounting Disclosure in Nigeria, using the statistical package for social science (SPSS) version 15.0.The study finds that a positive relationship exists between the financial performance of a company and its level of Human Resource Accounting Disclosure. The study also indicates that financial companies are disclosing human resources acc...
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This paper is an empirical study of Central Bank of Nigeria (CBN) regulatory activities , finance house activities and economic development, within the period 1992-2010, using gross domestic product GDP(dependent) as a measure of... more
This paper is an empirical study of Central Bank of Nigeria (CBN) regulatory activities , finance house activities and economic development, within the period 1992-2010, using gross domestic product GDP(dependent) as a measure of economic development, while Activities of Finance houses proxy by domestic credit and total assets, CBN activities proxy by the shareholders fund and minimum paid up capital, estimation of regression models and subsequent analysis of results using micro fit 4.1 econometric, statistical analytical tool. The findings indicate that significant relationships existed between Finance house activities and economic development, and CBN regulatory activities in finance house has no significant relationship. Therefore, this calls for policy options that would favor the encouragement of existing finance houses and licensing of new ones to adequately carter for the needs of the overall economy.. Keywords: Economic development, Finance houses/companies, Money market,...
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The broad objective of the study is to examine the role of forensic accounting in curbing financial crimes. The study adopts a survey research design. The method was adopted because it is likely to generate the kind of information... more
The broad objective of the study is to examine the role of forensic accounting in curbing financial crimes. The study adopts a survey research design. The method was adopted because it is likely to generate the kind of information required as well as providing good basis for the generalization of findings. The population of the study comprises of staffs of selected banks. Primary data was used for the purpose of this research. This research work employed the use of structured questionnaire in eliciting the required data needed to test the formulated hypotheses. Regression analysis was utilized as the method of data analysis and the results will be used in testing the hypotheses specified in the study. The study finding reveals that there is a need for forensic accountants in the Nigerian banking system, Forensic accounting is an effective tool for addressing financial crimes in the banking system and finally that Conventional accounting techniques are not effective in curbing financ...
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This study examined the impact of internal control on corporate sustainability as well as whether sustainability relate to economic development. The population of this study consist of practicing accountant in industry in Edo State, due... more
This study examined the impact of internal control on corporate sustainability as well as whether sustainability relate to economic development. The population of this study consist of practicing accountant in industry in Edo State, due to the difficulties associated with studying the entire population in Edo state, 100 people were randomly selected. For the purpose of this research work primary data was used and the data were collected with the help of well-structured questionnaire, the data collected were tested using gamma chi-square, the researchers choice of Gamma chisquare is as a result of the data being grouped and in ordinal form The findings from this research work show that there is a relationship between internal control and corporate sustainability and there is also a relationship between corporate sustainability and economic development. That is, we can use internal control to improve on our sustainable goals and objectives and the multiplier effect in improvement in c...
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The paper examined compliance auditing and corporate financial performance. The quasi-experimental research design is adopted for this paper. The respondents were managers drawn from banks operating in Rivers State. The research... more
The paper examined compliance auditing and corporate financial performance. The quasi-experimental research design is adopted for this paper. The respondents were managers drawn from banks operating in Rivers State. The research hypotheses developed in this study were analyzed and tested by the use of the spearman’s rank order correlation. Results indicated that there is a strong and significant relationship between auditing procedures and return on investment; there is a positive and significant relationship between auditing procedures and profitability; there is a strong and positive relationship between auditing rules and return on investment; and there is a significant and positive relationship between auditing rules and profitability. It was concluded that conclude that compliance auditing is a process of conducting audit in line with all the applicable known rules and procedures that gives an audit a high regard in the settlement of corporate governance issues and the enhancem...
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This study sought to examine users’ perception of reasonableness audit expectation gap in Nigeria. The survey research design was employed and Information was sought from respondents using a structured likert scale questionnaire. The... more
This study sought to examine users’ perception of reasonableness audit expectation gap in Nigeria. The survey research design was employed and Information was sought from respondents using a structured likert scale questionnaire. The hypothesis raised was analyzed using the ANOVA test statistics. The study found that there exist a reasonableness gap between auditors and users (managers, investors and the public) of audit report as regarding the responsibilities of auditors. Based on our findings, we recommend education as a method to reduce unreasonable expectation of the public and even users of audited reports. Such awareness can be created by enriching the curriculum of Nigerian tertiary institutions and by formal or informal awareness campaign by both government and auditing profession from time to time through appropriate media not just for their members alone but also for the auditing community as a whole.
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This study theoretically reviewed the relevance of accounting information practice on SMEs in Nigeria. Accounting information is to provide high quality financial reporting. The qualitative characteristic of any accounting information... more
This study theoretically reviewed the relevance of accounting information practice on SMEs in Nigeria. Accounting information is to provide high quality financial reporting. The qualitative characteristic of any accounting information system (AIS) can be maintained relative to ensuring the achievement of its operational goals and performance. This paper adopted library and theoretical literature survey approach and employed quotient research analysis with the use of secondary publications. The study identified SMEs as a catalysts instrument for economic growth and development. It noted that the ineffectiveness of AIS is the bane behind premature collapse of SMEs in Nigeria. The paper observed that proper AIS has enhanced SMEs success and provided requisite information support needed. The paper also noted that AIS has provided the basis for making strategic decision and understanding the accuracy of financial situation of SMEs in Nigeria. It therefore concludes that SMEs have the cap...
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The broad objective of this paper is to examine forensic accounting and corporate crime mitigation in Nigeria. The study was prompted by the dearth of research work on forensic accounting and corporate crime mitigation. Descriptive... more
The broad objective of this paper is to examine forensic accounting and corporate crime mitigation in Nigeria. The study was prompted by the dearth of research work on forensic accounting and corporate crime mitigation. Descriptive statistics and percentage analysis using Statistical package for social sciences (SPSS 17.0) were used to analyse the responses from the various respondents. Findings from the empirical result indicate that forensic accounting could be a valuation tool in strengthening corporate governance which could help to curb the menace of corporate crime in Nigeria. The researcher made useful recommendations among which are; corporate governance mechanisms should encompass forensic accounting in addition to its composition as contained in the Code of Best Practices on Corporate Governance as issued in 2003. In addition to the introduction of forensic accounting, the auditing profession should also not be left out in this all important innovation by embracing forensi...
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This study evaluates the extent to which banks in Nigeria comply with best practices in the performance of the financial accounting cum disclosure function with a special focus on corporate governance and corporate disclosure. Secondary... more
This study evaluates the extent to which banks in Nigeria comply with best practices in the performance of the financial accounting cum disclosure function with a special focus on corporate governance and corporate disclosure. Secondary data was reviewed and analysed using the ordinary least square regression technique due to its high degree of unbiasedness, efficiency and consistency. The results show that banks in Nigeria have generally maintained a high standard of information disclosure for the year 2010. This could be attributed to the aggressive reforms, regulation and competition in the banking sector in Nigeria. The results further revealed that on average, about 78% of the banks quoted on the Nigerian stock exchange engage one of the Big-4 audit firms and thus have a fairly high tendency to disclose more information in the annual reports. Finally, the results showed that on average about 60% of the members of the board have financial expertise and that BOARDSIZE, BOARD INDEPENDENCE and FINANCIAL EXPERIENCE have a significant influence on the disclosure of information in the annual reports.
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This study examines forensic accounting and fraud deterrence in the Nigerian public sector. Using the survey method of data gathering, a total of one hundred (100) questionnaires were distributed to respondents which cuts across political... more
This study examines forensic accounting and fraud deterrence in the Nigerian public sector. Using the survey method of data gathering, a total of one hundred (100) questionnaires were distributed to respondents which cuts across political office holders, civil society group, and the general public. A total of ninety (90) questionnaires were retrieved for the purpose of data analyses which were done with the aid of chi-square, to test our hypotheses. Our result shows that the use of forensic accountant to uncover fraud patterns, the use of forensic accountant to prosecute fraud perpetrators, and Quality forensic investigation that lead to successful prosecution, can help deter fraud in the public sector. It was also revealed that forensic accounting can help shape stakeholder’s attitude away from fraudulent practices in the public sector. Finally, our study shows that a mere threat of forensic investigation cannot deter fraud in the Nigerian public sector. It is therefore recommended...
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This paper examined the effect of fraud red flags on fraud prevention in Nigeria small and medium size enterprises (SMEs). The survey method was used to gather data from respondents which draw from the six geo-political zones of Nigeria,... more
This paper examined the effect of fraud red flags on fraud prevention in Nigeria small and medium size enterprises (SMEs). The survey method was used to gather data from respondents which draw from the six geo-political zones of Nigeria, through the administration of seventy-five (75) copies of coded likert scale questionnaire, but only fifty-nine (59) copies were retrieved and used for purpose of data analyses.The analyses of the micro study were done with the aid of the undated ordinary least square regression (OLS) technique. The result of the analyses reveals that the identified red flags in our study all have a positive impact on fraud prevention. Specifically, it was revealed that as mishandling of cash (MHC) increases, the chances of forensic accountant/management being able to identify red flags increases thus culminating in development of preventive control, hence reducing further perpetration of fraud in Nigeria SMEs. Mishandling of cash (MHC) thus exhibited a significant ...
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AUDIT DELAY AND AUDIT QUALITY: THE NIGERIAN EXPERIENCE DR ENOFE, A.O EDIAE, O.O OKUNEGA, E. C Abstract This study empirically examines the effect of audit delay on audit quality. Data were collected from a sample of 50 companies quoted on... more
AUDIT DELAY AND AUDIT QUALITY: THE NIGERIAN EXPERIENCE DR ENOFE, A.O EDIAE, O.O OKUNEGA, E. C Abstract This study empirically examines the effect of audit delay on audit quality. Data were collected from a sample of 50 companies quoted on the Nigerian Stock Exchange. Information was gathered from audited financial reports of these companies for the period ending 2011. The study revealed that audit delay and total delay are positively related to audit quality while board size is negatively related to audit quality, it therefore recommends that future research should extend these tests to other settings and periods in order to determine if this effect is to particular industry or firms, or to the period examined, and whether there is a significant effect over longer periods than one year. Keywords: Audit delay, Total delay, Boardsize, Timeliness
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The objective of this study was to analyze the determinants of audit quality in the Nigerian business environment. The research empirically examined the relationship between audit quality, engagement and firm related characteristics such... more
The objective of this study was to analyze the determinants of audit quality in the Nigerian business environment. The research empirically examined the relationship between audit quality, engagement and firm related characteristics such as audit tenure, audit firm size, board independence and ownership structure. A regression model was used to analyze the existence of significant relationships between audit quality and the firm/audit related characteristics. Audit firm size, board independence and ownership structure were found to be positively related to audit quality; however, only board independence exhibited a significant relationship with audit quality. Audit tenure exhibited a negative relationship with audit quality which was also not significant. The study recommends the sustenance and possible improvements on the non-executive board composition of organizations. Keywords: Audit Quality, Audit Tenure, Audit Firm Size, Board Independence, Ownership Structure.
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Many have argued that auditors’ independence plays a pivotal role in enhancing the quality of the audit in an organization. This is the focus of this study, using Nigerian quoted companies as a reference point. This study empirically... more
Many have argued that auditors’ independence plays a pivotal role in enhancing the quality of the audit in an organization. This is the focus of this study, using Nigerian quoted companies as a reference point. This study empirically evaluates the relationship between audit quality and auditors independence. In pursuance of this, a cross sectional analysis of companies listed on the Nigerian Stock Exchange was carried out. The dependent variable was audit quality that was measured by the fees charged by the audit firms. The independent variables were the audit tenure, board independence, and ownership structure. The data collected for the variables were subjected to the ordinary least square (OLS) regression analysis. The results indicated that as auditors’ independence increase, the quality of the audit also improves and as the independence of the board and the ownership structure increases, the quality of the audit reduces. It is therefore recommended that auditors should strive f...
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This study examines the impact and relationship between audit quality and cash - based earnings management of companies in Nigeria. Using archival data based on a sample of 342 companies – year observations from the NSE and applying... more
This study examines the impact and relationship between audit quality and cash - based earnings management of companies in Nigeria. Using archival data based on a sample of 342 companies – year observations from the NSE and applying some commonly applied audit quality measures for purpose of robustness, a massive and all-inclusive multivariate analyses was conducted. The result showed that audit quality exerts significant negative relationship with cash - based earnings management of quoted companies in Nigeria. The study recommends that Professional Accountancy Bodies, the Financial Reporting Council of Nigeria and the Nigerian National Assembly should issue authoritative code for audit quality; companies should improve their earnings quality only through sales growth, cost control and cost reduction strategies; companies in Nigeria should present distinct statements of earnings quality while auditors should issue Integrated Audit Quality Assurance Report based on earnings qualit...
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The stimulant for researches on auditor specific characteristic has its base largely on evidence from psychological researches on the existence of certain gender-based differences amongst individuals. Thus Psychological research on gender... more
The stimulant for researches on auditor specific characteristic has its base largely on evidence from psychological researches on the existence of certain gender-based differences amongst individuals. Thus Psychological research on gender differences has also ignited research interest in auditing. Therefore the objective of the study was to investigate if auditor gender also signaled differentials in the risk profile and problem solving abilities; two important traits with potential of influencing the auditor judgment and audit quality. Primary data was employed for the study using a sample of 150 auditors and the z-score statistical test. The findings suggested gender differences afterall may become a possible explanatory factor in assessing audit quality. However, considerable caution is suggested with regards to policy implications as there may be the need to control for more contextual factors. Keywords: Audit quality, Gender, Auditor judgement
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This study examines ethical challenges and financial performance in the Nigerian banking sector. The study was prompted by the dearth of research work in this area of interest. Percentage analysis, Descriptive statistics and Spearman... more
This study examines ethical challenges and financial performance in the Nigerian banking sector. The study was prompted by the dearth of research work in this area of interest. Percentage analysis, Descriptive statistics and Spearman ranked order of correlation (rho) using Statistical package for social sciences (SPSS 21.0) were used to analyze the responses from the various respondents. Findings from the empirical result indicates that insider related credits exhibit a significant positive relationship with financial performance in the Nigerian banking sector while unauthorized tampering with customers’ accounts revealed unexpected insignificant negative relationship with financial performance. It is therefore recommended that the Central Bank of Nigeria should instill tougher disciplinary measures against erring CEOs as this could go a long way to further mitigate the rising tide of unethical practices in the Nigerian banking sector.
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This study is an investigation of forensic accounting relevance and stakeholders’ perception in the Nigeria context. The survey method was adopted through the administration of copies of questionnaire to 200 respondents which cut across... more
This study is an investigation of forensic accounting relevance and stakeholders’ perception in the Nigeria context. The survey method was adopted through the administration of copies of questionnaire to 200 respondents which cut across all the identified stakeholders. 188 copies of questionnaire were retrieved for purpose of data analyses. The data analyses were done using chi-square and the results were used to test all hypotheses. The result shows that equity holders, creditors, public and management all have a positive perception of forensic accounting relevance in financial reporting. It is therefore recommended that forensic accounting practices be given the needed legal framework that will make it mandatory for all reporting entities both in public and private sectors to engage the services of forensic accountants in their financial reporting processes.
This study aimed at investigating users’ perception of the inclusion of audit committee report in corporate financial statements. Questionnaires were used to elicit information from respondents. The Chi-Square statistical tool was... more
This study aimed at investigating users’ perception of the inclusion of audit committee report in corporate financial statements. Questionnaires were used to elicit information from respondents. The Chi-Square statistical tool was employed in the analysis and testing of the various hypotheses raised. It was discovered that the audit committee report does not significantly affect the quality of financial reporting although some users consider it in their decision making process. Hence, it is recommended that it should not be a compulsory report so as to reduce cost, waste and make the financial statement brief yet weighty and relevant.
The broad objective of this study is to investigate the effect of ethics on financial reporting quality. Primary data was used for the study. The data was sourced from questionnaires administered to respondents. The analysis of the data... more
The broad objective of this study is to investigate the effect of ethics on financial reporting quality. Primary data was used for the study. The data was sourced from questionnaires administered to respondents. The analysis of the data showed that accounting ethics had a significant relationship with financial reporting quality. The study also recommends that the employment processes of companies should be improved upon so as to ensure that men and women with high level of ethical standing would be employed. Ethics and compliance department should be put in place by firms to direct and monitor ethics implementation in their day-to-day operations. Also accountants as custodians of good financial reports should adhere to the codes of professional practice issued by the Institute of Chartered Accountants of Nigeria (ICAN) in carrying out their everyday responsibility. Keywords: a ccounting ethics, financial reporting,
The issue of tax evasion continues to attract the attention of government, policymakers and researchers. Several studies have been conducted on how tax evasion can be curbed to increase government revenue. The broad objective of this... more
The issue of tax evasion continues to attract the attention of government, policymakers and researchers. Several studies have been conducted on how tax evasion can be curbed to increase government revenue. The broad objective of this paper was to determine the impact of tax audit and investigation on tax evasion. A survey research design was adopted with responses obtained through a well-structured questionnaire administered to staff of revenue generating agencies in Bayelsa State, Nigeria. The Ordered Logistic Regression technique was applied to test the hypotheses of the study. Findings from the study revealed that tax audit in the form of desk audit, field audit and back-duty audit exert a significant negative influence on tax evasion. It was also revealed that the explanatory power of tax investigation significantly and negatively impacts on tax evasion. The study, therefore, recommended among others that tax audit should be carried out on a routine basis to serve as a check and...
The study examines the role of forensic accounting in combating financial crimes. The data for the study were collected through the administration of 100 copies of questionnaire to the respondents. The data was analyzed using chi square.... more
The study examines the role of forensic accounting in combating financial crimes. The data for the study were collected through the administration of 100 copies of questionnaire to the respondents. The data was analyzed using chi square. The findings of the study showed that forensic accounting does not affect payroll fraud. Also forensic accounting can curb management theft. The study recommends that the management in the pubic and private sector in Nigeria should cooperate with the forensic accountants in order to tackle the issue of financial crimes. Keywords: forensic accounting, financial crime, corporate fraud.
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Banks serves as an indispensable part of the financial system, performing a crucial role in intermediation which results in a flow of financial resources in an economy. However, the recurring nature of fraud has hindered the effective... more
Banks serves as an indispensable part of the financial system, performing a crucial role in intermediation which results in a flow of financial resources in an economy. However, the recurring nature of fraud has hindered the effective performance of Deposit Money Banks (DMBs). The broad objective of this study was to examine the impact of fraud on DMBs in Nigeria. The study was driven by the positivist research philosophy. Hence, the study adopted a quantitative research design using the ex-post facto strategy. Data was sourced from the Nigeria Deposit Insurance Corporation (NDIC) annual reports covering the period of 2006 to 2016. The Ordinary Least Square (OLS) was used to predict the impact of fraud on DMBs after fulfilling major regression assumptions. It was revealed that total fraud amount was negative, although insignificantly affect the performance of DMBs; the number of reported cases significantly and positively affect the performance of DMBs and lastly it was discovered t...