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Effect Of Auditing And Prevention Of Fraud In An Organization
[A CASE STUDY OF COCA-COLA BOTTLING COMPANY, ILORIN]
CHAPTER ONE -- [Total Page(s) 3]
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1.7 PLANS OF THE STUDY
The research work takes the following format.
Chapter one contains introduction to the topic of the project work, which includes the problem of the study, objectives of the study, significance of the study, limitation of the study, scope of the study, definition of the terms, and research questionnaire.
Chapter two embodies literature review, various scholars review on auditing and fraud, nature and classification of fraud and auditing in an organization as a means of control, qualification and qualities of an auditor and auditor independence.
Chapter three contains the historical background of coca-cola bottling company plc research design, method of the data collection, population and administration of the questionnaire, the sampling techniques and method of data analysis.
Chapter four includes the data analysis of the chosen case study it will examine critically the department of auditing and fraud control in coca-cola bottling company plc, the internal and external auditor.
Chapter five concludes the project by devising possible solution to potential problems that is summary, recommendations and conclusion which might help adequate auditing to be carried out.
The external auditor and internal auditor are considered as having common objectives such as:-
• Effective internal auditor control system and accounting system.
• Continuous effective operation of such system.
• Reliable and adequate management information.
• Verify asset liabilities and carry out observation.
However, the extent to which the eternal auditors can rely on the internal auditor depends on the external auditor’s general assessment of the effectiveness and relevance of the internal audit function in term of:-
i. Degree of independence of the internal auditor in doing his work.
ii. The number of qualified skilled and experience staff employed in the internal audit units.
iii. The evidence of internal auditors work and review of its quality by the external auditor.
iv. The scope, extent and timing of the tests made by the internal auditor.
v. The quality of internal audit reports and the extent to which management takes action based upon the report.
Gene Brown, hard book for auditor edit
1.8 DEFINITION OF TERMS
The followings are terms that one could come across during the reading of this project work.
AUDITING: It is the independent examination of, and expression of an enterprise by an appointed auditor in pursuance of that appointment and compliance with any relevant statuary obligation.
FRAUD: Deception either stating what is false or by suppressing what is true, in order to induce a person to give up something of value.
INTERNAL AUDIT: The function came within an organization in examining, evaluation and reporting on accounting and other controls in the operation of the organization.
INTERNAL CONTROL SYSTEM:- The whole system of controls, financial and otherwise, established by the management in order to carry on the business of the company in an orderly and efficient manner, ensure adherence to management policies, safeguard the asset and secure as far as possible the completeness and accuracy of the records.
EXTERNAL AUDITING: This is an audit carried out by an auditor, who is not employed by that entity or by its manager and, as far as for possible, independent of the person who manage the entity.
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