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A Critical Analysis On Value For Money Audit On Public Sector Of An Organization
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1.2 STATEMENT OF PROBLEM
The research work “The critical analysis of
value of money audit (VFM) and public sector performance in Enugu State
centers on the major problems facing value for money audit in Enugu
which includes:-
a. Problem of inconsistency in public sector objectives as a result of political and economic instability.
b. Diversity in accounting records or lack of uniformity in accounting records system among public sector organization.
c. The problem of cash basis rather than actual basis in public sector accounting.
d. The problem of insufficient emphasis of accounting and stewardship in public sector organization.
e. Inadequate implementation of laws in Nigeria.
1.3 OBJECTIVE OF STUDY
The
main objective of the study is to analyze the effects of value for
money audit on public sector organization while the specific objectives
are:-
a. To ascertain the problem of inconsistency in public
sector objectives which is as a result of political and economic
instability.
b. To examine the problem of diversity in accounting system in public sector organization in Enugu State.
c. To determine the problem of using cash basis of accounting in public sector organization.
d. To ascertain the problem of insufficient emphasis on accountability and stewardship in public sector organization.
e. To investigate the problem of inadequate implementation of laws in public sector organization in Enugu State.
1.4 RESEARCH HYPOTHESIS
In order to achieve the objectives of this research study, the following hypothesis was formulated.
Hypothesis One
Null Hypothesis (Ho)
There
is no significant relationship between economic and political
instability and performance of public sector organization in Enugu
State.
Alternative Hypothesis (Hi)
There is a significant
relationship between economic and political instability and performance
of public sector organization in Enugu State.
Hypothesis Two
Null Hypothesis (Ho)
There
is no significant relationship between cash basis of accounting and
performance of public sector organization in Enugu State.
Alternative Hypothesis (Hi)
There
is a significant relationship between cash basis of accounting and
performance of public sector organization in Enugu State.
Hypothesis Three
Null hypothesis (Ho)
Inadequate implementation of law had no effect on performance of public sector organization in Enugu State.
Alternative hypothesis (Hi)
Inadequate implementation of laws has been effect on performance of public sector organization in Enugu State.
1.5 RESEARCH QUESTIONS
1.
To what extent does the inconsistency in public sector objectives which
is as a result of political and economic instability affect performance
of public sector organization in Enugu State?
2. How does the
diversity in accounting records or lack of uniformity in accounting
records affect the public sector organization in Enugu State?
3.
Could the problem of the use of cash basis rather than accrual basis
accounting affect public sector organization in Enugu State?
4. To what extent does the insufficient emphasis on accountability and stewardship affect public sector organization?
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