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Internal Auditing As An Aid To Management
[A STUDY OF HOUSEHOLD PRODUCTS COMPANY, ORLU, IMO STATE]
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1.6 PURPOSE OF THE STUDY.
ï‚· The purpose of the study is to determine the extent of co-operation between the internal audit and management.
ï‚· To ascertain the extent of co-operation between the internal auditor and external auditor.
ï‚· To evaluate the extent to which internal audit helps in preventing pilferage and fraud.
ï‚· To find out if internal audit is equipped enough to prevent an error proof working condition.
1.7 SIGNIFICANCE OF THE STUDY.
The benefits of the study to:
The Internal Audit-
i) Internal audit within an organization is effective for efficient work of the general staff.
ii) The internal audit in an organization will help detect, minimize or eliminate fraud in an organization.
iii) Internal audit assist the management in the smooth running of the organization by complying with the policies, laws and regulation.
iv) Internal audit in an organization will help to review and appraise the effectiveness, adequacy and application of accounting, financial and
other controls in order to promote effective control at the lowest possible cost.
v) Whether an internal audit department could help to determine the reliability and integrity of financial and other data produced within the organization, thereby securing the jobs of employees.
The management of the organization-
i) Management will experience an error free working environment maintained by internal audit.
ii) Management will enjoy the reduction or elimination of pilferage and fraud within the organization.
iii) The general staff will be effective and dedicated.
iv) Management will enjoy a healthy relationship between it and internal auditors.
The External Auditors-
i) Good internal audit by the internal auditor will save time for the external auditor.
ii) Co-operation will lead to easier and more efficient work.
iii) Assistance of internal auditor will lead to smooth investigation.
1.8 SCOPE AND LIMITATION OF THE STUDY
This research work is to evaluate internal auditing in an organization using soap, detergent and household products company as a case study. The research work particularly focuses on the internal audit as an aid to management in the chosen company.
LIMITATION OF THE STUDY
There are constraints encountered in carrying out this research work, this includes;
1. TIME FACTOR
This research work was conducted simultaneously with normal academic work within a short period of time in which some valuable information could be obtained.
2. FINANCIAL DIFFICULTY
In an effort to have a sufficient research material to be able to write extensively on the subject matter, the researcher was faced with some financial predicament considering high cost of not only education materials coupled with the high transport fare.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThis research work deals with internal audit as an aid to management. It aims at finding out the role of internal audit in management decision making in organizations. It is a survey research. Data were collected from primary and secondary sources which included using questionnaires, personal observations, text book, journal and internet. Sample of 92 were collected by random sample method. Three hypotheses were formulated and tested using Z-test statistics, while questionnaires were ana ... Continue reading---
