BUSINESS FAILURE AND ACCOUNTS PROFESSION IN NIGERIA
ABSTRACT
The Nigeria economy within the first half of this century experienced quite a lot of business failure. Business failure can be defined as the inability of a particular business enterprise to continue to function as a going concern this development has started generating anxiety by both international and local investors in arriving at investment decision. However, the task of identifying the root causes of corporate collapse in what this study seeks after. This study is carried out at ensuring a survival dosage of business in Enugu through the use of accounting profession (auditing) to appraise operational performance.Some of the causes of business failure includes mismanagement, bribery and corruption, and poor remuneration etc. The brain behind the failure of business in the political under tune in the appointment and selection of key officer to management positions. Based on the findings in this study, the following conclusion were drawn, mismanagement mode of appointment and selection of key officers, poor coordinated management device, government interference and privatization and commercialization programme. Finally, it is recommended that business should appreciated the importance of audit as a tool of evaluating performance, appointment of board of directors and top management officers should be based on skill, experience and qualification and government should also institute its commercialization and privatization programme in place etc.
TABLE OF CONTENTS
CHAPTER ONE
Introduction
Objective of the Study
Statement of Problems
Significant of The Study
Hypothesis Formulation
Scope of the Study
Limitation of the Study
Definition of Terms
CHAPTER TWO
2.0 Review of Related Literatures
Introduction
The Going Concern Concept Of Business
2.2.1. Definition of Business
2.2.2. Forms of Business
Importance of Business
When A Business is Not Going Concern
When A Business May Not A Going Concern
Symptoms of Imminent Business Failures
Nature And Causes of Business Failures
The Development of Accounting Profession (Auditing)
Definition of Auditing
Types of Audit
Importance of Auditing
The Auditor And The Danger of Self Fulfilling Prophesy
The Audit Committee
2.5.5.1. Nature of Audit Committee
2.5.5.2 Composition of Audit Committees
2.5.5.3 Functions of Audit Committee
2.5.5.4. Qualification of Audit Committee Members
2.5.5.5. Size of Audit Committee
2.5.5.6. Size Committee Relationship with Management
2.5.5.7. Audit Committee and tThe External Auditor
2.6 The Effect of Business Failures on a Depressed Economy.
CHAPTER THREE
3.0 Research Design and Methodology
Introduction
Research Design
Sampling Techniques
Questionnaire Design
Data Collection Techniques
Questionnaire Distribution and Collection.
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