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PROJECT MATERIAL IN ACCOUNTANCY:
THE ROLE OF A STATUTORY AUDITOR IN CONTROLLING FRAUD IN
GOVERNMENT OWNED ESTABLISHMENT
A CASE STUDY OF FEDERAL PAY
OFFICE (change ENUGU
to your area).
ABSTRACT
This research work is design
to achieve a specific purpose on the
role played by Auditors in protection of public funds in the government owned
establishments, ministries or government
parastatals.
The research goes into providing
a systematic financial accountability that will promote proper stewardship of
asset, deter wastes, dishonesty and promote effeteness of reasonable cost.
However, the literature review
helps to ascertain other writes view concerning the subject of the study which
explains how government owned establishment is so organized in such a way that
fraud could be detected easily and on time just because particular audits are
assigned to particular personnel. The data used for this work was collected
from primary and secondary source. Questionnaire were also used (200 in
number) 120 were retained on filled while 20 missed on transit and total used was 60 in number. Against the background,
invaluable and reliable discoverers were made.
Finally the research recommends
that the legislative are of government
should make it mandatory for the
accountant general to submit financial
statement of government account to audit department for audit work within 6(six month of auditors to
be given power to execute or enforce its
finding after its work has been review by the public account committee (P.Ac).
CHAPTER ONE
INTRODUCTION
BACKGROUND
OF THE STUDY
For a long
time now Nigeria
have been witnessing a down turn in her development efforts. This primary cause
of this down has been linked with the in or deinate ambition of the average Nigeria
to get rich quick at the expense of less
piviltedge ones. Those who a seen them selves as being opportunity to control government owned establishment use
the opportunity to perpetrate fraud or
misappropriate public funds and properties. However, the auditor should recognize the possibilities of material,
misstatement or irregularities or fraud, and see that errors which could
distort the trueness and fairness of the financial account are not
committed. Therefore, a statutory
auditor is said to be a watch dog and not a blood hound.
Our law makers have seen the need for acceptable
accountability by making a provision for the federal and stated government to
report on the account of stewardship rendered by these public officers.
Section 126 (1) the constitution of the federal republic of Nigeria 199. States that there shall be
an audit general for each state who shall be appointed in accordance with the
provision of section 126 of the constitution”.
Section (2) says that the public account of a state and of
all offices and courts of the state shall be audited by the auditor general for
the state”.
This study focused attention how well or otherwise the
government audit department conduct it activities in response to section 125 of
1999 constitution of the federal republic
of Nigeria.
1.2
STATEMENT OF THE PROBLEM
Public embezzlement always create a
consciousness on the part of the supervisory authorities as to the quality and
digree of protective management in government
1.
Lack of understanding of the purpose
of auditing among the society in general.
2.
Lack of a well defined goal
oriented policies aimed at building up a strong and sound financial system.
3.
Inherent weakness in the existing.
Administrative arrangement for government owned establishment accounting
function.
4.
Improper supervision of over all
officers under the authority entrusted
with the receipts expenditure of public money.
Inability of the government owned establishment maintain a
sound system of internal control.
1.3
OBJECTIVE OF THE STUDY
In regards to this study,
is set forth to present fresh insight into the nature and role of a statutory
auditor in controlling fraud in
government owned establishment with a view to enabling the public appreciate
the various limitations and weaknesses, inherit their effort in fraud detection
and control in government owned establishments
1.
To find out roles played by the
audit department in protection of public funds.
2.
To
provide a system of financial accountability which will promote proper
stewardship of assets deter wastes dishonesty and extravagancy and promote
effectiveness at reasonable costs.
3.
To ensure efficient financial administration
through system of internal control and
management information.
4.
To determine the extent to which
fraud misapporiation and embezzlement of public funds have persisted in public
services.
5.
To find out the delays in carrying
out audit of account of government establishment.
1.4
SIGNIFICANT OF THE STUDY .
The significance of this study is that, it will teach
the inherent disabilities and limitation of auditing in government owned
establishment.It is expected that the result of this study will help improve
financial reporting by government owned establishment
providing annual reports in accordance with the requirement of audit acts,
1990.
The significant of the study to society in general is to
correct the wrong notion of the society in general is to correct the wrong notion of the wealth
of government which contrary to realty
is usually. Regarded in position could cut his own share at will and get away with it.
To the government is ensuing the standard that down in the
ministry manual of responsibilities and procedure are maintained.
To the auditor to pin point to them the risk that confronts the auditors in the
excretes of his duties the legal action that could be taken against the auditor
she/he deficit in this duty.
The study sure as a quite for future quern mental policy formulation on auditing guideline to
government owned establishment .
Finally, it is expected that this study will serve as a
work of reference to future researchers.
1. Time constraints: The researcher as a
student also engaged in other activities which limited the time.
Used for the project the research was deeply affected by
the shortness of time as a result of the short semester being ran by the school. The semester coupled with dash of
programme of the school and there is no special time given for proper
investigation are the constraints which left the researcher with little or no
time to carry out this project.
2.
SCOPE: Due to the vastness of the areas
to be covered by the researcher, the researcher found it way difficult she could not obtain information from each of
theses areas. For instance there are many firms dealing with auditing and
investigation and for the fact that it is very difficult for one to gather
information or data from each of these firm one being a student was compelled
to unit his study to federal pay office (add your state after office)
3.
LACK OF STATISTICAL INFORMATION:
Facts were not easy to come about during
the course of this project work. Even where the facts are available they were
either out dated or the authorities concerned refused to bring it out or are
subject necessary protocols. At the expense of my limited time before they were
male available.
4.
FINANCIAL CONSTRAINTS:
The researcher
lacked the necessary finance to carryout extensive research on this topic .
5.
NON –RESPONSES:
Inadequate responses such as some ministries
when interviewed defined responses and unable to help due to internal problem
like staff of local government audit department of ( ADD YOUR STATE HERE).
6.
BUREAUCRACY:
The bureaucracy in government establishment has made it
very difficult for researcher to obtain research information.
7.
SECREY:
Most Nigeria
dislike activities that appear to be probing them, they tend to avoid
researchers because they gelt their activities which are not meant for public
consumption would be exposed through research work.,
1.5
RESEARCH QUESTION
The following research question were
formulated by the researcher for the conduct of this project.
1.
What aspect of the accounts government
policies hinders effective and
efficient auditing of account of government owned establishment
2.
How can government establishment
supervise the expenditure of government taking care that no payment were made which is not covered by proper
authority.
3.
To what extent do fraud effect
economic development of the country.
4.
What measures showed be taken to
ensure that objective of auditing are achieved in government owned
establishment.
1.6
STATEMENT OF HYPOTHESIS
H o: The audit does not play
effective and efficient role in the control of fraud in government owned
establishment .
Hi: The auditor play effective and
efficient role in the control poof fraud in government owned establishment.
1.7
SCOPE / LIMITATION OF THE STUDY
The study is a case study of federal pay
office pay officer Enugu
between 1990 2003.
In this study the researcher only
considered the ministerial accounting structure or accounting structure of
selected government establishment on parastatals in the state, because of the following limitation.
CHAPTER TWO
LITERATURE
REIVEW
In the early 1970’s the government was concerned
with accounting for and disbursement and collecting taxes, those concerns were
establishing controls, including audit to reduce errors and fraud on the part
of dishonest officials.
The practice developed of asking directors to keep records and to prepare
periodic statements of account to show to the entire body or members, and in
addition, it become common for the stock holders to assume themselves that, the
financial statements presented to them were revisable creditable and reflects
the true position of things it was at this point and for the purpose that, the
practice developed the appointment of auditors whose duty and financial
statements of the director are report thereupon.
It has been stated that auditing is an important professional task carrying heavy
responsibility and calling for commensurate skill and judgement and whilst the
comminute skill and justment has always been necessary for the conduct of an
audit, the these words are particularly opposite today.
Historically the auditor had the accounts read to him since
the term “ AUDIRE” originated from the Latin verb “AUDIT” to her. Audit
operational standard defines audit as the independent examination of and expression of opinion on
the financial statement of an enterprise by an appointed auditor in pursuance
of that appointment and incompliant with any relevant statutory obligation.
Earlier bodies define an audit as an examination and
investigation by an auditor into the evidence from which financial statement
revenue account and balance sheet) of an organization have been prepared in
order to ascertain the present true and fair view of the summarized transaction
for the financial state of the establishment at the end of the accounting date,
so enabling the auditor to report there on.
TERSELY define auditing is said to be an examination by an
auditor of the eudence from which the final renue accounts and balance sheet of
an organization have prepared in order to a certain the presentation of an true
and fair view of the summarized transition of the organization at the end of a
data.
There fore the auditor examine mainly the book of accounts
and vouchers, but under certain circumstances may examine the actual assets
held by the establishment from which certain figures have been arrived at.
According to ICMA an audit is an investigation a search for evidence to enable
an opinion to be formed as the
reliability of financial and other information by a person or person
independent from the use of the information and the issue of a report that
information with the intention of increasing its credibility and therefore its
usefulness.
This word “Audit” derived from how the account of an
estate. Domain etc were checked by having them called out by those who had complied them to those in authority.
Nowadays audit is a
process carried out by qualified auditor) where by the accounts of entities
including limited companies professional firms are subjected to scripting in
such detail as will enable the auditor to form
an opinion as to their accuracy trust and fairness. This opinion is then
embodies in an audit report addressed to those interested in an audit report
addressed to those interested parties who commissioned the audit, or to whom
the auditors are responsible under statute.
The main objective is to ensure that account reveal a true
and fair view of the establishment and its transaction. This leads to greater
emphasis being placed on ascertaining the reliability of the record from which
the account are drawn up and also on verifying of the assets, liabilities and the transition within the account. The
reliability of the records is established by first ascertaining the system of
internal control within the esblishment and then testing its operation. All
this make the work of auditing more interesting but at the same tracing and the occurring of the
necessary knowledge and still commensurate with the task.
Government establishment can be defined as that sector of
the economy established and operated by
the government and organized on
behalf of the whole citizen
through the democratic set up ideally, what services they want and how
it should be provided.
The purpose of quaditing government owned establishment is
to give euidencen of accountability for
the stewardship of government resources
it make available vital information for good control and prudent
management of government activities Pandy (1989”110)
2.1
FRAUD
The exposure draft 1998 defined “ “fraud” ass irregularities
involving the use of criminal deception
to obtain an inputs or ill advantage.
(a)
Fraud can be classified into two
categories fraud involving the
manipulation of the records and
accountsually by the government’s senior
offices with a view benefit in some ways from the false picture which
they covey (Example obtaining finance under false pretence or conceding a
material worsening of the government the position)
(b)
Fraud: Usually by employees
involving the theft, misappropriation or
embezzlement of the government funds; usually in form of cash or of its other
assets. Cash is the most readily susceptible target of fraud other areas of
fraud includes:
i.
Inflation of payment voucher
ii.
Inclusion of payment voucher
iii.
Swapping of superior assets with
inferior types
iv.
Printing of illegal receipts and
local purchases orders and using
such to concert the company’s
benefit today.
v.
Pilferage’s. The 1998 exposure
draft on fraud introduce the notion of illegal acts in general by the
government or its staffs, the auditor was only responsible for detecting these if they had a material effect
on the financial statement. Naturally,
if auditor do defect fraud even through they many not affect the truth and fairness of the
financial statement it would be prudent for them to discuss matters with
management and perhaps seek legal advice.
The auditor is only responsible for fraud of material
nature and that is up to management to try to present and defect occurrence
through the implementation of an appropriate system of internal control..
Although the auditor may not accept detection of fraud
as of the audit. He will nevertheless
plan and conduct the audit test in such a way as to limit the possibility that
such fraud go undetected.
continuous For instance, the auditor will be aware that
certain assets such as cash are more susceptible to fraud than other, and in
conducting the audit of a concern, his planning will take account of this
features.
For instance, the
auditor will be aware that certain assets such as cash are more susceptible to
fraud than other, and in conducting the
audit of a concern where cash is important such as a retailing concern where
cash is important such as a retailing concern, his planning will take account
of this feature.
Similarly, if the establishment
is in financial difficulties the auditor should take particular care through his
audit emphasis that the director do not attempt to paint a better picture of
the establishment hat exist or in the extreme case, that it enters into certain
irregular transaction as a means of taking money out f the ministry and
defrauding creditor who will suffer loss should it go into liquidation
(Anderson 1973 :16 ).
Although,
auditor would always maintain that their prime function is not to detect fraud,
All these factor have no doubt played their part but in the final judgement it
would now be economically viable for the auditor to be responsible for the
control of fraud and error.
It
must be stressed that auditing would cease to exist a discipline if the were not perceived to be
satisfying some economic/ social need. Recent statement by government owned establishment
would suggest that the auditor is seen to have an important role in the control
of the investor from management fraud. It is perhaps illustrative that the
exposure draft suggest that auditor should design his audit test in such away as
to have a reasonable expectation of controlling material fraud.
In such cases as fraud is
committed by responsible and trusted officers, an auditor must be particularly
vigilant if he is to discover it as probably he will be given intentionally
false information and explanation. He can therefore discover such fraud only by
the exercise of considerable care and skill and by making exhaustive inquires
and investigation (fremgren James 1986 :
76 )
2.1 AUDITING IN NIGERIA:
The practice of auditing in Nigeria is contained in
the provisions of the Companies and Allied Matters Decree of 1990 (CAMA) under
Section 357(1) that every company should at each annual general meeting appoint
an auditor to audit the financial statement of the company and to hold office from
the conclusion of that, until the next annual general meeting, a retiring
auditor.
However, appointed shall be re-appointed without any
resolution being passed, with the exception that is:
(a)
He is not qualified for re-appointment or
(b)
A resolution has been passed at the meeting appointing
some other person instead of him or providing expressly that he shall not be
re-appointed or
(c)
He has given the company notice in writing of his
unwillingness to be re-appointed.
In accordance with the provision of section 358(1)
unless the auditor is a member of a body of accountant in Nigeria established from time to
time by an act or decrees. While section
358(2) states that none of the following person shall be qualified for
appointment as auditor of a company.
(a)
An officer or servant of the company
(b)
Professional adviser to a consultancy capacity in
respect of secretarial financial management
(c)
A body corporate.
2.3 CONDUCT OF AN AUDITOR
The auditor,
in planning his audit programme us be guided by the particular circumstance of
each individual case. It is impossible to lay – down any hand and fast riles,
but the following general comments may serve as a guide.
a)
An auditor must not merely confirm himself ascertaining
that the account or balance sheet which he certifies or on which he report are
in accordance with the entries in the
books, he must take reasonable steps to satisfy
himself that the entries in the book are
correct record of transaction.
b)
On the other hand. An auditor is not necessarily
expected to verify every officers transaction he is entitled to rely on the
system of internal check in force in the establishment. The object of which is
to reduces to a minimum, the possibility of fraud or error in the accounts.
c)
An auditor cannot evade his own responsibility by relying
on certificates from director or officials. He must by the exercise of his own professional skill, satisfy himself
that there is no reason to doubt that such officials have properly discharged
their own responsibilities.
d)
while an auditor cannot ascertain definitely that every
traction which has occurred has been duly recorded, he is expected to take
reasonable steps to enable him to from the opinion from his view of the book
and document which come before him and by general injuries that such is the case
owler (1984 : 164 )
The audit might be a thoroughly effective
one without more than a small fraction of the vouchers being examined or more than a small fraction of the
positing clacked. The wood would include a careful review of the system of control.
In order that the unnecessary checking of details might be avoided and special inquires made in direction
whether were most likely to occur. Certain classes of entries would be verified
on block and not individually evidence
supplied by one department or official would be used to substantiate
information of finished by another department or official in detect for short period schedules of assets and liabilities at a particular dove
would be compared with those at pre union
dates. Expenses and receipt on revenue accounts analyzed under various
heads. In reinforcement of what has already been said the following are
extracts from a statement on the general principles of auditing issued by Nigeria;
Responsibility for the accord
and financial control of government
establishment rest upon the directors. Their statutory duties include
responsibility for ensuring the
maintenance of adequate record and the preparation of annual accounts showing
the true and fair view required by the acts. They are responsible for safe
guarding of assets and not entitled to
rely upon the auditor to protected them from any shout coming in carrying out
their duties property the detailed checking by the auditors will be limited to
appropriate tests which if suitable planned may extend to only a small
proportion of the total transaction
2.2
AUDITORS
ROLES IN CONTROLING FRAUDS
Control has to be exercised one
all aspects of government owned establishment. Method of control should be
incorporated into all accounting system
without them a system is likely to be
ineffective and too costly to operate in relation to benefit received. (Scott
1990: 64) The need to install control method grow with the increase in size and
complexity of the government ministries, accusation which must arise is what aspect are to be
controlled and how are these aspect to be broken down into lines of
responsibility. Because of the different types of departments that exist and
also the attitude of top management toward the control function no standard pattern
can be laid down (accountant journal May/ June 99).
Fraud can take place any time
some where is the offices of most establishment but how long they will remain
undetected depends largely on the internal check and the efficiency of the audit.
Circumstances that allow fraud
to be perpetrated
(a)
The absence of a
well designed system of internal check/audit.
(b)
Under reliance placed by management upon the integrity
of the staff.
(c)
Secretiveness and jealousy of staff concerning their
duties awakens which unfortunately appears to increase with the size of the
organization. Thus, the efficiency of internal audit depend upon the degree
of independence under which it operates
the audit of its search character and the operation that it engenders within
other department. Its continuous nature excrises continuing moral effect upon
the staff as it never knows when the internal audit staff will appear on the
scene nor what portion of the derical work be chosen as a sample for audit
examination. Arrears of account work disclosed by audit should never be allowed
to remain lest they form a cloak for hiding defalcations.
CONTROL OF FRAUD THROUGH A CONTIROUS
COMPARISM OF FIGURES:
It has been said that trends and
various from standard represent the only time significance in figures. The
study of variation of figures should be made by a person with sufficient
continuous knowledge of detailed operations to be able to sense something wrong
if they are not correctly reflected by the figures. To achieve this, it is
essential that all person supervising operation should be finished with the
accounting figures relating to the operation they supervise and that they
should be though how to interpret and
use figures appreciating and enquiring into the significance of variations.
Accounts should be so drawn up as to
reflect personal responsibilities and therefore accountability for operating
results.
CONTROL THROUGH PERSONAL
MANAGEMENT:
As
fraud are committed by human being though human weakness, personal management
plays auital role in controlling fraud. It should never be forgotten that fraud
is personal. There is a belief that considerable temptation can be placed
before trusted employees with risk, this is often before the courts were
perpetrated by the old and trusted servant of the ministry and in several
cases.
CONTROL THROUGH VOUCHING PAYMENT
It
is provided by section (3) cheque acts 989 that an unendorsed cheque which
appers have been paid by the payee of the sum payable by the cheque. The
auditor should therefore require the paid cheque to be filed in such away as to
facilitate cross-reference. The auditor should provide that all cheque drawn
are crossed “ not negotiable accounts payee only” so that the payee cannot
negotiate them to third parties.
As soon as
receipt or paid cheque is inspected the auditor should cancel it, preferably by
the use of a rubber audit stamp, in order to present the same voucher being
produced on a subsequent occasion. The auditor have to ascertain witness check
as regards the examination and checking of invoices and statement for payment.
The auditor should also ascertain the name of the person whose duty is to
perform the work and to initiate the document as having been checked.
CONTROL OVER PAYMENT INTO BANKS.
It
is not most desirable that all receipt should be paid into bank daily and where
the regulation is in force, the auditor should test the amount paid in as shown
by the bank statement with the entries in the cash book. The auditor should
test of representative number of entries with the counter fail paying in book
and he should refer to this book particularly for the purpose of vouching
moneys received and paid into the bank prior to the date of closing the account
but not credited by the bank till the next period.
CONTROL OTHER PAYMENT OUT OF BANK
Where
the bank statement has not already been agreed with he cash book it will be
necessary for the auditor to check payment in details observe that all bank
charge, dishonored bills, returned cheque etc.
Have been properly recorded in
the statement that omitted from the cash
book must be examined carefully and their nature ascertained particular
attention being paid to the date of the entries. A reconciliation statement
balance are agreed and this should be checked by the auditor (Byer J .C 1985 :87)
Accuracy
in this direction can be most conveniently assured by comparing the date
stamped on the returned cheque with the
date of the entry in the bank statement and this can be very giddy done where
the number of the cheque are inserted both in the cash book and in the bank
statement.
AUDITOR AND HIS CONTRIBUTION TOWARED EFFICIENT MANAGEMENT OF GOVERNMENT
OWNED ESTABLISHMENT
According to the
institute of internal auditor (I. I .A ) auditing is the independent appraised
activity within an organization for the review of the accounting financial and
other operation as a basis for protection and constructive services to
management. It is a from of control which function by measuring and evaluating
the effectiveness of other kinds of control. The independence of the internal
auditor should not be compared with that of the independent accountant since he
( internal auditor ) receives authority from the management he should retail
the same viewpoint and objectives of management, but at the same time should
passed sufficient independence in order to make objective recommendation to
management without bothering whose horse is gored.
Furthermore,
the most effective way in which auditor could act to bring about control in
business in by looking for constants management supervision and review, to be
able to effect adequate control management he should review the government
financial operation and addition to regular review call for special check of
particular items. All these are carried out by the internal auditor with a
principal accounting objective of assuring management of the efficient and
effective design and operation of internal check within accounting systems.
Therefore,
with auditor there, to constantly advice management loopholes are tied up and
resources channeled towards growth of the establishment. The valuable
assistance the auditor can render to management must be now apparent, assuring
always that management is for sighted enough to make full use of this service
and that he in turn is able to apply himself to his work in such a manner as to
produce routine checking. The increasing size of establishment internal auditor
can provide the essential connecting link lengthens, so does possibility of mis
interpretation and misjudgments which
hinder the running of what would otherwise be on efficient and important aspect
of the internal auditor work is facilitated by:
a)
Observation and investigation of the actual working
of the system during the cores of his
detailed audit.
b)
Comparing the shades of operation which come under his
scripting when finally prepare that is not only checking the accuracy of statement but also making a critical and
comparative appraisal of the budgeted figures and result obtained and comparing
matter which influence various procedures but do not form part of budgeted
estimate.
c)
The probing from time to time of the system of internal check to see not only weather it is
still working effectively but whether it is the best system available
examination of the ministries contracts including these of a continuing nature
often control supply of a station etc are allowed to be controlled simply
because they are adequate for the organinal purpose. Thus, the work of an auditor should not be one emphasized, as it
has been said that every embezzler was once a trusted employee. The roles played by the audit department is to say whether the financial
records and account kept by person or group trusted with collection or
disbursement of public money d property show true and fair view or say they do
not. In the case of reviewing financial statement, the auditor is expected to
express opinion on the truth and fairness of financial statement so that any
person lading and using them can have belief in them. Management should
exercise their responsibility primarily by the institution and operation of
appropriate system of internal control. The auditors responsibilities towards
irregulation and errors is limited to designing and evaluating his work with a
view to detecting those irregulation and
error which might defect the true and fairness of the view given by the
financial statement Tower (1956.14)
The auditing guideline appears
to extent the auditors responsibility beyond these defined by the companies
act. However, it does remind the auditor of the factor to consider in order to
assess the risk of regularities and errors.
Even through it is the primary
responsibility of the management for the detection
and prevention of fraud, the research believed the auditor should be responsible
for fraud which the failed to detect because of negligent audit auditors is
only responsible for detecting to the management. By traditional approach the
auditors apply vouching verification evaluation test checking, check positing investigation, tick and cross tick.
Where as if system approach the auditor
evaluate the internal control system is adequate in design,
efficient in operation and consistent
application throughout the period
reporting so that records processed through the system will be reliable and
material misstatement and irregularities
appearing will come to his notice (detected). The audit department adopts
system approach to auditing (auditing in
perspective) and traditional or early audit evidence.
We have seen that government has
good intention by establishment audit department which should advice her on a
continuous basis on the activities of those whose responsibilities is to
disburse public funds and property. The extent
of performance is measured from the angle of effective coverage of this
essential function. It is discovered with almost dismay that audit of account of government
for about three yeas and not audited partly audited audit but not certified.
The up keep of sound system of
organization and internal check is far
better than any subsequent dramatic
discovery of fraud. If fraud is discovered the most important point is not that
it has been discovered but how it was
possible to control. The auditor should make sure that it didn’t occur through
an unknown weakness is the system of
interned cleck (ie it was not the result of a calculated risk that failed)
because of such is the case it reflects upon the ability of the auditor. In
another wise well organized ministry the reason for fraud accruing is almost
invariably a loophole is the internal check system.
The main factor in the control
of fraud
(a)
A system of internal control check
(b)
Internal audit
(c)
The use of machine (a person can not easily after a
machine entry)
(d)
Examination of
comparative figures.
This is externally useful for
detesting fraud or guanine errors which
have been completely wrong is principle but correct in detail it can happen
that over emphasis on the detailed checking work result in a more fundamentally
incorrect state of affairs being other looked, the mission for example of a whole se of transaction such errors can
some times be glarily obvious from study of comparative figures. These should be examined in the same
way as estimated and actual results in standard costs.
(e)
personnel management : the two important points are the
enforcement of holiday for all staff and the careful control of clerical other
time. Obviously nothing is conductive to
defalcation that someone should have the
ran of an empty office and access to the records in it.
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