THE AUDITOR AS AN INDISPENSABLE PART OF A PROFITABLE BUSINESS ORGANIZATION)
TABLE OF CONTENT
CHAPTER ONE
BACKGROUND OF STUDY
STATEMENT OF THE PROBLEM
OBJECTIVES OF THE STUDY
SIGNIFICANCE OF STUDY
DEFINITION OF THE TERMS
SCOPE AND LIMITATION OF THE STUDY
CHAPTER TWO
LITERATURE REVIEW
DEFINITION OF AUDITING STANDARD
ORIGIN OF AUDITING STANDARD
HOW AUDIT FUNCTIONS STATED
HOW AUDITOR DUTIES RELATED TO THE ACHIEVEMENT OF PROFITABLE BUSINESS ORGANIZATION
RELATIONSHIP BETWEEN AUDITING AND ACCOUNTING
INTERNAL CONTROL
EXTERNAL AUDITING
AUDITING PROCEDURES
THE AUDITOR AND FRAUD
CHAPTER THREE
SUMMARY, RECOMMENDATION AND CONCLUSION
SUMMARY OF FINDINGS
CONCLUSION
RECOMMENDATION
BIBLIOGRAPHY
APPENDIX
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Complexity and growth in a business organization calls for employment or more employee and separation of business from the owners thus, is because the owner cannot efficiently oversee the various departments due to increase in the size of the business. Therefore there is need for extra hands, managers are then employed as stewards to oversee or look after the business assets and control certain departments. It is pertinent that as the business continues to show a growth rate, the sole proprietorship will gradually give way to partnership will gradually give way to partnership perhaps one to need of better management and also due to of bigger capital. As the partnership became Bigger, it ushers in the limited liability company which came in with the share holding concept a situation where a very large capital is required of a business venture by the public each contributing a single unit of share. The shareholders as the owners of the business appointed directors to run the day to day affairs of the company. The directors in form appoint managers to serve as stewards of the company. The managers, fulfill their accountability to the share holders and other interested parties by preparing financial statements. It may be in form of balance sheets, profits and loss account, source and application of fund statement (VAS) and historical financial summary.
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