THE RELEVANCE OF AUDITING IN THE ENHANCEMENT OF ACCOUNTABILITY IN THE PUBLIC ORGANISATIONS

ABSTRACT

This research work is designed to show the importance of auditing in the enhancement of accountability in the public organization. It is worthy to say that audit is necessary and indispensable for the enhancement of accountability in the public organization. This discussion in this project is done in three chapters, reading in summary conclusion and recommendations. In order to achieve success on the study, face to face interview which were basically for the role of audit in enhancing accountability in public service.

CHAPTER ONE

1.0 Introduction

Initially accountability of public funds did not receive very serious public notice of concern. The citizen did not have to worry to contribute to their governments, but with development of the scale and scope of governments, expenditures to finance those obligations consequently, the citizen we required to raise funds monthly or at intervals and as a result taxing too off officially.

This is the management of the public organizations funds were entrusted into the hands of some group of people who carry out the day to day running of the business of the organization. The shareholders who light not participate in the operation of the organization would need a third person (an auditor) to audit the submitted statement of account and check whether they show a true and fair view or not.

Audit has since its inception, received a lot of definitions and interpretations both from authors and auditing bodies. There is little or no need to say that it has suffered a lot of misinterpreted. Most of these misgiving interpretations see it as aimed at fraud and error detection De Paula, et at (1983:19).

But auditing essentially involves much more than that one of the most involved and most acceptable definition so far, in that issued by the consultative council of accountability Bodies, (CCAB), which sees audit as an independent examination of an expression of opinion of the financial statement of an enterprise by an appointed auditors in pursuance of that appointment and in compliance with any relevant statutory obligation (Howards, 1982:1).

Deductively, an audit is the objective scrutinization of someones work or presentation by a third part (an auditor) that is different from the users and prepares of the presentation. The general essence of an audit is to ascertain compliance of organizations records and operational polices of organization record and operational policies with certain prescribed standards (IBID, 1983:12). Further, it aims at increasing the usefulness acceptability and dependability of financial statements.

Accountability on the other hand as given by Webster Encyclopedia Dictionary of English is the state of been accountable, liable and responsible. The same dictionary goes for her to define accountable as liable to make good case of loss, responsible for a trust, liable to be called to account.

1.1 Statement Of The Problem

The increasing have of fraud and embezzlement of public funds and properties by offices in the public services has brought to limelight problems that are associated with accountability in the public service.

In this project, it is proposed that auditing will be help to enhance the much needed accountability to the public service.

1.2 Objectives Of Study

Based on these problems stated above, the purpose of this study can be stated as follows:

To ascertain the role of audit in enhancing accountability
To determine whether audit can actually make any difference to the deplorable state of accountability in the public service.
To enable the employers of auditors have a good knowledge of what audit is all about and much to expect from audit. This is necessary because most of the employers do not see the audit job as aimed at confirming the preparation of financial statement in keeping with the statutory requirements, guiding the preparation and presentation of such statement, rather, the employers notice about the auditors is that of fraud detection which is from his primary function.
To ascertain the problem independent auditors encounter in the discharge of their duties, the reason why accountability is yet to be achieved in the public companies or government parastatals.
To plug the loopholes that have for some time now denied the public companies and parastatals the much needed accountability.

1.3 Significance Of The Study

The misconception of the functions of audit has no doubt ended in most minds, the confidence on auditors report and has depressed the creditability with which the audit profession was owned. The researcher has therefore taken to this study with that it will bring about the following:

Restore peoples confidence and reliance on auditors report
Emphasize on the need for government and top management compliance on auditors report.
Bring back to full flame, the dividing image of the noble profession
To reassure the employers of auditors on the indispensability of audit on the much towards the achievement of accountability in the public service

1.4 Scope Of Study

The study focuses on the public organization their accountability and the role auditing play in enhance it.

In the execution of this, the researcher has aimed at exploiting all revenues all avenues in order to convince the misinformed minds as to the accountability of public organizations with regards to auditing, I would not to venture into the use of computer for the attainment of this convenience and financial constraints.

Hence, the research selected and studied few of the departments in the public organization. The researcher also had direct contact with the strategic, tactical and functional or operational levels of management. Any information gotten from these people would be assumed to be a good representative of the entire department in the public organizations. The limitations of this study are financial constraints and limited time.

1.5 Assumptions Of The Study

Over the year, business organization and government gave auditing title or no attention because the properties took active part in management of their small business transactions. But, as business transactions increase and investment in limited liability companies came into existences, whereby shareholders are not managers. To account for shareholders became necessary and to ascertain the correction of the accounts by the shareholders and independent body (an auditor) is employed to look into the account presented by managers.

1.6 Definitions Of Terms

Audit: This is the independent examinations of an expression opinion, of the financial statements of enterprise of appointed auditors in pursuance of that appointment and in compliance with any relevant statutory obligation.

Audit Report: It is a written report of an audit no matter which an opinion is sought within the terms of an auditors appointment.

Internal Audit: It is an independent appraisal function within an organization to examine, evaluate and report on the adequacy of accounting and other controls of resources of the operations of the organization.

Audit Evidence: It is all the relevance and reliable information obtained and recorded by auditor which is sufficient to enable him, in arriving at conclusions on which he has based his independent opinion on the financial statement being audited.

External Audit: This is an audit or accounting entity carried out by an auditor, who is not employed by that entity or by its managers and is as far as possible independent of the management of the public organization.

Accountability: It is the state or condition of being accountable for an execution of duties.

…

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …

Procedure for Downloading the PDF (Docx) Material

The Relevance of Auditing in the Enhancement of Accountability in the Public Organisations can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.

Seminar Material Cost
₦3,000

Project Material Cost
₦5,000

Request Complete Material

Click here to request the Complete Material via WhatsApp including;

Preliminary Pages,
Chapter 1-5,
References and Appendix.

TABLE OF CONTENTS
PRELIMINARY PAGES

Title page
Approval page
Dedication
Acknowledgement
Table of Contents
Abstract
CHAPTER ONE
1.0 Introduction
1.1 Statement of Problems
1.2 Objectives of the Study
1.3 Significance of the Study
1.4 Scope of Study
1.5 Assumption of the Study
1.6 Definition of Terms
CHAPTER TWO
2.0 Introduction
2.1 The Historical Development of CAN Audit
2.2 The Objectives of Audit in Public Organization
2.3 Reasons of Audit
2.4 The Essential Features of an Audit
2.5 Audit Evidence Source and Types
2.6 Audit and Accountability
2.6.1 Auditors Professional Ethics
2.6.2 Auditors Legal Responsibility
2.7 Internal Control
2.8 Standards of Reporting
2.9 Advantages and Debates on Audits
CHAPTER THREE
3.0 Summary Conclusion and Recommendation
3.1 Introduction
3.2 Summary of Findings
3.3 Conclusion
3.4 Recommendation
REFERENCES
APPENDIX

Disclaimer for Complete Material Utilization
The displayed research work titled "The Relevance of Auditing in the Enhancement of Accountability in the Public Organisations" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.

Frequently Asked Questions (FAQ)

Can the material for “Military Technology and Operational Efficiency using Armed Forces Nigeria Command and Control System in Perspective” be used as a guide for Criminology and Security Studies Project?

Yes it can be used — The study scrutinized the Military Technology and Operational Efficiency using Armed Forces Nigeria Command and Control System in Perspective. In achieving this aim, the following specific objectives were laid out to ascertain the level of Military Technology and it applications and examine the challenges and prospect of Military Technology as it affects the operational effectiveness and efficiency of the Armed Forces Nigeria Command. Investigation reveals the problems regarding military effectiveness come from the nature of war, which is wicked. The lack of clarifying traits in such problems allows for resolution rather than solution repeatedly. The armed forces of nations are required to protect the territorial integrity, contribute to internal security and uphold the constitution. The research design used in this …

Can the material for “Investigation Into the Effectiveness of Total Quality Management (TQM) in the Nigerian Construction Industry” be used as a guide for Quantity Surveying (QS) Project?

Yes it can be used — The complex nature of the construction project and the unstable nature of Nigerian economy result in cost escalation of construction materials and equipments and untimely completion of project make it necessary to employ the use of project management practices Nigeria. Investigations were carried out through administration of questionnaire and data were collected from professionals firms, such as quantity surveyor, architects and engineers. The statistical tools used in analyzing the data include tables and simple percentages. The findings obtained after analysis of the data from the questionnaire, shows that there is a standard practice of project management in Nigeria. Problems such as clients not stating their requirements to the project manager, late appointment of manager and denial of project manager proper authority …

Is the topic “Influence of Domestic Violence and Broken Homes on Adolescents’ Academic Performance” recommended for Psychology Project?

Yes it is highly recommended — Broken home is a place where the parents engage themselves in quarrelling, fighting, suspecting, keeping late hours to the detriment of the children’s primary drive for food, sleep and other basic needs. The study was carried out to investigate the Influence of Domestic Violence and Broken Homes on Adolescents’ Academic Performance in Jalingo educational zone in Taraba state. In achieving this aim, the following specific objectives were laid out to examine the influence of gender on adolescents’ academic performance and determine if there is any joint influence of domestic violence and broken home on adolescents’ academic performance. Investigation revealed that students from broken homes encounter emotional challenges such as frustration, depression and de-motivation, lack of emotional support, low self-esteem and …

Can the material for “Effect of Slide Game on Student’s Achievements and Interest in Algebraic Concepts” be used as a guide for Education Project?

Yes it can be used — The performances of students in mathematics, especially in external examinations like West African Senior School Certificate Examination (WASSCE/SSCE) and National Examination Council (NECO) have continued to deteriorate year by year. The conventional method used in teaching in our schools seems not to yield any positive results, and how to solve the problem has becomes a source of worry to mathematics educators. The nature of mathematics demands that it should be taught using activity based approach. If teaching methods which are activity based as suggested by psychologists like J. Bruner, J Piaget and Lev Vygotsky are used, then better results will be achieved. Therefore this study was designed to investigate the efficacy of the use of slide game approach on students’ achievements …

Can the material for “The Role of Financial Institution towards the Development of the Maritime Industry in Nigeria” be used as a guide for Maritime and Transport Project?

Yes it can be used — Financial institutions occupy a vital position and play a lendable role in the economy of the nation. examining critically the place of financial institutions in the management of Loan syndication in the economy, loan syndication is a child of circumstances arising from legal lending restrictions, risk sharing and liquidity problems. The researcher would like to know despite the constraint prevailing is it still a supplementary option for business financing. For an economy to develop there must be a supplementary source of financing viable investment projects beyond the limits of an individual financial institution, it is on this basis that we would like to define the objectives. The research study is to include the followings to: identify those fundamental problems confronting …

Can the material for “Computerization of Airline Reservation System” be used as a guide for Computer Science (CS) Project?

Yes it can be used — An Airline Reservation Information System is a computerized system used to store and retrieve information and conduct transactions related to travel. The aim of the study is to Design and Implement a Computerized Airline Reservation System. In achieving this aim, the following specific objectives were laid out as follows to design and develop an application software that will minimize cost of maintenance instead of spending more money in purchasing of new equipment and increase output of passenger manifest with the interconnection more than one computer system over network. The motivation that led to the implementation of the proposed system is as a result of inefficiency will be notified and new system design implemented. With references to the rapid growth in …

Is the topic “Determination of Money Supply in Nigeria” recommended for Economics Project?

Yes it is highly recommended — Money supply is one of the important macroeconomic variables. The control of money supply is an essential tool in conducting monetary policy within the monetary targeting framework. The success of monetary policy critically depends on the controllability the monetary authority has over money supply. In view of this, this research work aimed at identifying the variables that determine money supply in Nigeria, specifies the correct relationships between these variables and money supply as well as to provide statistical evidence vis-a-vis the relationship in Nigeria, and also examines the most current important issues and questions in Nigerian money supply determination. Thus, thesis lays emphasis in monetary policy as well as the viability of money supply and its determination in Nigerian economy. The …

Is the topic “Design and Construction of Corn Threshing Machine” recommended for Mechanical Engineering Project?

Yes it is highly recommended — A machine for corn threshing is highly and greatly needed to consistency of usage of corn in local and international levels. With regards to this indispensable needs, a corn threshing machine is designed which operates to remove the corn grains and leaving the cobs intact. The study was conducted to design, construct, test a low-cost corn / maize thresher, evaluate the efficiency of the maize sheller, and use the maize sheller in establishing an agro-processing centre for rural farmers. In attainment to this design objective and aims, a proper considerations was given to the machinability factor which includes installation, simplification, durability, choice material, machine, low costly and prolonged life span when operate with high utilization with minimal down fine. The …

Can the material for “Soil Characterization and Land Suitability Evaluation” be used as a guide for Agricultural Engineering (AE) Project?

Yes it can be used — The land at Anuka, Nsukka Local Government Area of Enugu State in Southeastern Nigeria, under the sub-humid tropical climate was evaluated for maize (Zea mays), cassava (Manihot esculenta), yam (Dioscorea spp.) and oil palm (Elaeis guineensis) cultivation. Data were obtained by field study and laboratory analyses. Six pedons were dug and described: two pedons each for maize and oil palm fields, and one each for yam and cassava fields. These pedons were dug to represent sampling units. Auger samples were also purposefully collected from the sampling units at depths 0 -20cm and 20 -40cm. This was to investigate the nutrient spread in the area. Soil samples from the pedogenetic horizons of the pedons were collected after profile description, processed and …

Can the material for “An Assessment of the Civil Service Reforms in Nigeria” be used as a guide for Education Project?

Yes it can be used — Given the centrality of the civil service to the realization of the objectives of public policy in Nigeria, it is unavoidable for the service to be reformed from time to in order for it to meet up with the ever changing realities within it immediate environment. This research work on the assessment of the civil service reforms in Nigeria: A study of Olusegun Obasanjo’s Reform of [1999-2007]. The civil service is part of the public service which takes responsibility for planning, advicing and implementing policies and programmes in government ministries and departments but the civil service reform in Nigeria before Obasanjo’s lack the ability to implement, plan and design the necessary strategies’ to reduce the cost of governance in the service. …