-
Problems And Prospects Of Auditing In Government Organization
[A CASE STUDY OF FEDERAL MORTGAGE BANK ENUGU STATE]
CHAPTER ONE -- [Total Page(s) 3]
Page 1 of 3
-
-
-
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Government organization have played a greater part in the economic growth of any economy, especially in the Nigerian economy. The contributions they have made so far cannot be overemphasized because their utmost aims of establishment is to provide some vital or essential services to improve the social and economic well being of the people.
These government organizations are mainly being funded either by the federal or state government through their budgetary allocations made to them yearly and they can also obtain loans or overdraft from commercial bank as well as subvention from government. These funds are expected to be utilized effectively and efficiently. But in most practices they are being misappropriated or embezzled by some government officials.
As a result of this mis-appropriation which has characterized most of the government organizations. Honestly and prudently managed. The audit is expect to
show whether proper principles of accounts and audit ethics have been adhered to and that financial statements prepared give a true and fair view.
1.2 Statement of the Problem
In any business Organization in which allocation and application of funds serves as a backbone for financial activities to be carried out the following are problems in which are bund to be encountered.
1. Embezzlement of fund by some government Officials
2. Failure to exercise due professional care and the appropriate level of professional skepticism.
3. Overreliance on inquiry as a form of audit evidence
4. Deficiency in confirming accounts receivable
5. Failure to recognize related party transactions and assuming internal control exist when they may not.
These and other factors contribute to problems of auditing in government organization.
CHAPTER ONE -- [Total Page(s) 3]
Page 1 of 3
-
-
ABSRACT - [ Total Page(s): 1 ]ABSTRACTThe topic of this research is problems and prospects of auditing in government organization, the population of the study was 82 while the research used yaro Yamani formula in the determination of the sample size which was 68.The researcher used both the primary and the secondary sources in obtaining the relevant data used in the course of the study. The primary data was collected using the questionnaire while that of the secondary data was obtained using written textbooks, journals, maga ... Continue reading---
