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CRIME
CONTROL THROGH AUDITING AND ACCOUNTABILITY IN THE NATIONAL DRUG AGENCY
ABSTRACT
The study
dealt on the effectiveness of auditing and accountability in the National drug
agency. The rapid development of financial management initiative in National
drug agency and financial control has led to the need for improved performance
measurement, reporting and individual accountability. The researcher t3ested
five hypotheses which stability results mat states that. An audited work must
be independently examined, opinions must be expressed by a qualified and appointed auditor in pursuance/compliance
with the relevant statutory obligations;
that an auditor must posses the expected qualities the auditor generates
office is a watching of public fund and
as such, government must be appropriately configured. Based on this finding the
researcher recommended that government should at all level employ professional
accountants to ensure that funds are expanded in accordance with the terms by
which they are appropriated while auditors should conduct their activity
independently in order to protect the interest of the public. Thus, with integrity
and in full compliance with the law guiding their profession.
CHAPTER ONE
INTRODUCTION
1.1 STATEMENT OF THE PROBLEM
The term audit is derived from
the latin verb “audire”, which means to hear the origin of audit allowed tenant
former to work on their land owners themselves, did not become involved in the
business of farming. The land owners relied upon overseer who “listened” to the
account of stewardship given by the tenants. Oaring this period till date, and
with reference to the companies and allied matters act of 2004, the word
“audit” is described as:
The independent examination of and
expression of opinion on the financial statements of an enterprise why an
appointed auditor I pursuance of that appointment and in compliance with any
relent statutory. In order to form an opinion as to the accuracy, truth and
fairness of such account.
The business
world prior to industrial revolution in the 19th century till present day, has
witnessed a lot of changes and developments. In the early economic development,
the mode of recording and analyzing of accounting dates was by manual means.
Auditing during this time was orally because the business of writing was get to
develop. The modernization of in the business world led to the areas where
writing and recording analysis evolved with the use of some electro
mechanicals. .
Accountability on the other hand is
the obligation to answer for a responsibility that has been concerned, (the
2006). During the era when accounting system evolved, the business transition
which took placed to be recorded, analysis and based on the principles, methods
and procedures laid down by the accounting profession. Also certain development
which occurred, gave rise to the right to examine the books and to obtain all
the information and explanation necessary for giving a report on the truth and
correctness of the business sheet. In view of this auditing was redefined
according to (CAMA 2004) as an exercise whose objective is to enable auditors
express on opinion on whether the financial statement gives a true and fair
view of the entities affairs at the period and of its profit and loss for the
period than ended and have been properly prepared in accordance with greater
emphasis placed on the information value of the business balance sheet and
prospective investor becoming increasing conscious of the need for the rejection
of error and fund was regarded as the province of the business management. These developments further gave
rise to the owner of the business. Which in turn led to the emergence of the
financial statement legislation and recognition of auditing. As required by the company’s
act, the audited is meant to provide a written report, expressing their opinion
regarding the freeness and “fairness” of words, auditing both in the past and
at present is fanned at enquiring that the stewardship account being centered
to owners of business is a time representation of the event that took place.
Also development in the business coupled with technological breakthrough led to
the advent of electronic data processing business dates.
This, in the world of business
implies the computerization of accounting system which still demands that
auditors should perform their role as opinionist. Based on this, the question
that strike one’s mind could effective auditing lead to proper accountability
has it origin in stewardship accounting (especially in the state government
system). The function which accountings serve s in the earliest times of our
society is providing owners of wealth, the means of safe guarding it from
embezzlement as noted by Smith (2007).
The concept
auditing and accountability has been relegated to the background in the
National drug agency. In spite its importance the further of the National drug
agency lies in its auditing and accounting. Auditors perform important function
in those aspects of government that are crucial for promoting credibility,
equity and appropriate behaviour of government officials which reduces the
important roles auditing and accountability plays some problem are still left
unsolved and new one have been created by the audit activities itself hence
problem like
i. Misapplication of audit
report towards management decision.
ii. Poor allocation of
owners resources and national drug
agencyal administration.
iii. Non segregation of functional duties
iv. Financial impropriety
in the National drug agency as a result
of inefficient auditing and accounting.
v. These and many more
problems are faces by the Nigeria National drug
agency and enterprises.
1.2
OBJECTIVE OF THE STUDY
The general objective of the study
is to evaluate the effect of auditing and accountability in the National
drug agency specifically, it tends to
determine the cause of poor allocation of owners resources and national
drug agency administration. To determine
the factors that result to non-segregation of functional duties to being to
light the financial impropriety lines) in the National drug agency which is due to inefficient auditing
and accounting system.
1.3 RESEARCH
QUESTION
For this study, it is pertinent to
ask some question, such as
i. What is the
relationship between auditing, accountability in the National drug agency?
ii. To what extent are
significant effects between misapplications of audit report towards management
decision?
iii. What possible effect
could poor allocation of owners resources cause towards national drug agency administration?
iv. Is there any reason for
non-segregation of functional duties?
v. Is there any
significant reason why financial improperly in the National drug agency should occur?
1.4
SIGNIFICANCE OF THE STUDY
The problem and objectives for which
the study seeks to particular and specific terms the study is meant to achieve
the following through.
i. For the researcher: it
will provide an extensive tool for proper management and administration of such
institution or a state.
ii. For student: it is an avenue for
student to acquire secondary information
iii. For government: it
helps to inform both the present and future government of the need to audit and
account properly for every transaction
iv. To the public: when
fully adopted it clearly states the concept of auditing and accountability to
the public there by showing the need for it and it consequence.
1.5 SCOPE OF
THE STUDY
This study examined the effectiveness
of auditing and accountability in the National drug agency, with special
reference to the office of the auditor general of Imo state.
1.6
LIMITATION OF THE STUDY
This study is limited to Imo state National
drug agency with particular reference to
the office of the auditor-general of the state due to the following
contractors.
i. TIME: This is the first
major problem encounter in the work and it is due a very short semester and the
academic pressures emanating from lectures, assignment, project works, seminars
etc
ii. FINANCE: This is the
second major problem experienced during this work and it so, based on the
allowing reasons.
iii. SCARCITY OF FUND: High cost of
transportation infringed on the efforts of the research in pursing of relented
information. Increase in the cost of photo copywriting materials typing and
binding internet browsing.
iv. RESPONDENT ATTITUDE:
Many of the respondents refused to fill and return the questionnaire given to
them, some wrongly filled and some deliberately refuse to provide the
researcher with certain information’s which they termed
Official
secrets “as it might constituted a
i. Threat to their
positions or that of the national drug
agency.
ii. Distance of the
supervision
iii. Due to the supervision
in other business of his a gap is being created between him (supervision) and
the student (researcher) but with commitment on the side of the supervision
alongside the persistence and patience of the researcher, such gap will be
eradicated.
1.7
DEFINITIONM OF TERMS
Terms meaning auditing it is
the independent examination of and expression of opinion on the financial
statement of an enterprise by and appointed qualities auditor to presence of
that appointment and incompliance with any relevant statutory obligation.
(CAMA 2004).
Accountability: This is the obligation
to answer for a responsibility that has been concerned.
Auditor: This is a person appointed to
examine the accuracy of the books of an national drug agency in such a way as to express an opinion
on the trueness and fairness of the books in relating to the national drug agency state of affair (Adeniyi 2010)
Stewardship:
This is an act of rendering account to one’s employer. (Uzor 200)
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