THE EFFECT OF AUDITORS INDEPENDENCE ON SUSTAINABILITY ASSURANCE IN NIGERIAN FINANCIAL INSTITUTIONS

Financial integration refers to a situation when the financial markets of two or more states or regions become intertwined. This may occur through a variety of ways, including international flow of money, international enterprises invest in the domestic markets, financial institutions exchange information and practices, or through standardization of the systems, which underline the financial markets. Financial integration may be regionally based, with the local countries being connected with each other, or globally, with the financial markets of the entire world being interconnected (International Monetary Fund, 2016). Mougani (2019) described that the benefits of financial integration include increased efficient use of capital, increased opportunities to diversify risks, reduced possibility of localised issues, and improved financial systems in general. But in a world where money can flow freely across international borders, there is a potential that financial issues will be transferred through countries and the financial systems of countries are more intertwined. This implies that when one economy is unstable, it may easily spread to the other countries.