Auditing is the independent examination of financial statement of an organization with a view of expressing an opinion as to know whether those statements give a true and fair view and complies with the relevant status. This opinion is expressed in the form of a report. The person carrying out such an examination is known as an auditor. The auditor has not reviewed the financial statement only, he also carried out a skillful and careful examination of the records of the organization in order to ensure that the financial statement are a reflection of the affairs of the organization as appeared in those records.
It is important to appreciate that for any procedure to quality as a part of the system of management audit, it must be established or at least approved by management. Hence, it is at part of the auditor to establish the system of management audit. Whenever, the auditor is involved in the establishment of audit management, heactys only in an advising capacity. Therefore, the duties of prevention and detection of frauds and errors are primarily the responsibility of management and has not form parts of the statutory responsibility of the auditors.
Naturally, there are two types of performance. The managers and the upper level managers performance. The managers in the other hand are the joint of most audit firms (controller of the resources of the organization). They are engage in the planning. Controlling reviewing and at times, the direct supervision of both individual engagement and a group of audit management or engagement simultaneously. The thorough completion of the audit work and adherences of laid down standards are the primary responsibilities of the manager. We also have different categories of managers but with similar function E.g. principle managers, senior managers deputy managers and assistant managers with varying degrees of experience.
In order to prevent friction and ensure the smooth running of the organization, there should a clear structure of authority defining the responsibilities of each official or department special duties should be assigned to staff with the relevant skill and performance. To prevent bottleneck in the procedures a definite arrangement should be made for staff to take their annual vocation to replace those who are absent. It is in thee process and context that management audit starts.
Can't find what you are looking for?
Call (+234) 07030248044.
OTHER SIMILAR ACCOUNTING PROJECTS AND MATERIALS
AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)
CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »
A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »
AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)
HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »
APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA
2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »
ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA
ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »
ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)
THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »
What are looking for today?
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
62,756 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
48,693 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
42,970 people found this useful
THE EFFECT OF TREASURY SINGLE ACCOUNT ON THE ECONOMY OF NIGERIA
42,613 people found this useful
IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOR
40,210 people found this useful
CAUSES AND EFFECTS OF COMMUNICATION BREAKDOWN IN AN ORGANIZATION (A case study of champions’ brewe...
39,190 people found this useful