THE  PROBLEMS ASSOCIATED WITH CO-OPERATIVE AUDITING (A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA IN ENUGU STATE CO-OPERATIVE MOVEMENT.). A RESEARCH PROJECT MATERIAL ON CO-OPERATIVE ECONOMICS 

ABSTRACT

Co-operative Audit is one of the statutory duties of the Co-operative director, is the act of examining the account book of co-operative societies to insure accountability in the management of co-operative fund.  This aspect of the duties of co-operative director is very essential to the viability of co-operative societies towards the attainment of co-operative objectives.

Inspite of the importance of co-operative auditing to the development of co-operative it has been observed that there are many problems associated with co-operative auditing.  This have propelled the researcher to embark in the project works.

This project work covers the problems associated with Co-operative Auditing  (A case study of Nsukka L.G.A).  This work will be in five chapters:

CHAPTER ONE

INTRODUCTION

An audit is independent examination and expression of opinion on the financial statement of an enterprise by an appointed auditor in pursuance of that appointment and in compliance with any role statutory obligation.  an audit involves an examination or investigation of the statement in figure from relevant evidence with the objective of enabling the auditor to make a report on the state of statement.  Also is the examination of business transactions with a view of ensuring that the balance sheet and the Profit and Loss account give a true and fair view of the financial statement, that is, the examination of accounts to see that they are in order.

Auditing is of two steps:  The first being the process of gathering evidence relating to transactions, and the other being the function of reporting to the members of the enterprise as to whether the financial statements show a true and fair view of the state of affairs of the enterprise and the profit or loss for the year ended on that date.  In the case of a statutory audit, the matters to be reported upon are laid down in the companies act or in other relevant legislation.  Coming to non-statutory audit, the matters to be dealt with in the report should be agreed in writing between the auditor and his client.  The engagement letter should explain the scope of the audit and state that the auditor will review the accounting systems in order to assess their adequacy as a basis for this preparation of the financial statements.

THE  PROBLEMS ASSOCIATED WITH CO-OPERATIVE AUDITING (A CASE STUDY OF NSUKKA LOCAL GOVERNMENT AREA IN ENUGU STATE CO-OPERATIVE MOVEMENT.). A RESEARCH PROJECT MATERIAL ON CO-OPERATIVE ECONOMICS