INTRODUCTION OF THE STUDY
In various public company, the statutory requirement for the management is to present to the owners and other interested parties (creditors, tax authorities, potential investors etc.) a financial statement showing the way and manner in which the resources of the company at the managers disposal has been utilized or managed. This serves as the stewardship function of the management.
However, before this financial statement can be accepted and is published. It must have been certify by an auditor to be the true statement of the affairs of the business. Hence auditing is an independent examination of the financial statement of an organization with a view to expressing an opinion as to whether this statement give a true or false view and comply with the relevant status.
This primary objective of the audit is drive form section 360 of companies and allied matters decree (CAMD) 90 is to find out;
Whether the financial statements shown are true and fair view and comply with the relevant status
Whether the financial statement are in agreement with the records
Whether proper records are being kept under secondary or subsiding object of an audit, which are;
Detection of errors fraud and irregularities
Prevention of fraud and other financial irregularities
This two are also the objective of conducting an audit as it is however the responsibility of the management to control and detect fraud and other irregularities conferred on them by the section 331 of the (CAMD) 90.
Irrespective of the above fact, the editor in the course of auditing is expected to approach this professional opinion with truth and fairness of the financial position as shown by the balance sheet and of the profit or lose as shown by the profit and lose account and any other information required by the law to be disclosed in the financial statement.
In cause of carrying out this above mention duty, the auditor should regencies the responsibility of material misstatement, financial irregularities or fraud which unless adequately disclose distort the result of the state of the affairs shown by the financial statements.
OBJECTIVE OF THE STUDY
1. As earlier stated earlier, the aim of the auditing is to detect fraud and irregularities but also to examine the financial statement presented by the management in order o give an opinion on whether or not the account show a true and fair view of the statement affairs of the business
2. This research is to analyze the extent to which auditing in the course of the above examination can be applied to control fraud or irregularities.
3. It is to examine how report are presented to the management and owners of the business at the end of the audit work bearing in mind the possibility of fraud and irregularity which unless if adequately disclose distort the result or state of affairs as shown by the financial statement.
4. The research work is also directed towards showing the important of audit as regarding fraud and financial irregularities in the organization, (Nigeria coal cooperation Enugu).
5. It is to make indept investigation and recommendation based on the finding to enlighten people on the impact of auditing in the controlling of fraud and financial irregularities.
SIGNIFICANCE OF THE STUDY
This study is significance in the following areas;
a. The academic,
b. The editor
c. The society in general
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
61,483 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
48,016 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
42,374 people found this useful
THE EFFECT OF TREASURY SINGLE ACCOUNT ON THE ECONOMY OF NIGERIA
42,322 people found this useful
IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOR
39,294 people found this useful
CAUSES AND EFFECTS OF COMMUNICATION BREAKDOWN IN AN ORGANIZATION (A case study of champions’ brewe...
38,371 people found this useful