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Significance Of External Auditor’s On The Examination Of Financial Statement
[A STUDY OF FIRST BANK OF NIGERIA PLC]
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1.2 STATEMENT OF THE PROBLEM
The goal of every business is to make
profit and profit is to be made when total revenue exceeds total
operating cost and losses when the reverse is the case.
In view of
the above, it is therefore necessary for firms to strive to manage their
affairs effectively and efficiently in order to make profit achieve
their objective; they do by setting various auditing systems to check
mate these.
To reduce cost and at the same time impose quality
service (product) and as well received in acceptance of the costumer,
effective and efficiency control of asset inventory cash human resources
as well as reduce the liabilities, financial abnormalities,
misappropriation and embezzlement of money, and adequate external audit
measures has been established in the bank to aid
the management in
curbing the above mentioned variables. Despite the existence of internal
audit system the bank still experience some financial anomalies which
prompt this research work to study the significance of external auditors
on examination of financial statement in the bank.
1.3 OBJECTIVE OF THE STUDY
The
main objective of the study is to determine the significance of
external auditor on the examination of financial statement. To find out
the significance of external auditors in examining the financial
statement of the first bank Nigeria plc. To find out the modern
techniques employed by the auditor management in reducing fraud, errors
and misappropriation. To identify the problem associated with
examination of financial statement.
1.4 RESEARCH QUESTIONS
The
following research questions guided the study; What are the significance
of external auditors in examining the financial statement o first bank
Nigeria plc.
What are the modern techniques employed by the
auditors/management in reducing errors and misappropriation. How do we
identify the problems associated with examination of financial statement
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThis study was to assess the significance external auditor‟s in the examination of financial statement of first Bank of Nigeria Plc., Enugu. The banking sector in Nigeria and elsewhere in recent times have become so diversified, challenging, highly competitive and has been characterized by persistent, fraud, errors and misappropriation of funds in the bank, the impact of which has undoubtedly shaken the whole economy of the nation. For this work to be effectively and efficiently ca ... Continue reading---
