CHECKING DISTRESS IN  THE NIGERIAN BANKING SECTOR THE ROLE OF ACCOUNTANTS AND AUDITORS [A CASE STUDY OF FIRST BANK OF FIRST BANK OF NIGERIA PLC, AWKA ). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

CHECKING DISTRESS IN  THE NIGERIAN BANKING SECTOR THE ROLE OF ACCOUNTANTS AND AUDITORS [A CASE STUDY OF FIRST BANK OF FIRST BANK OF NIGERIA PLC, AWKA ). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

PROPOSAL

            The objective of this research work is to check the distress in the banking sectors, the duty of the accountants and auditors to make sure that it does not occur.       The method of research used is both primary and secondary that is, the primary method will be in-form of interviews and administration of questionnaires while secondary will be using literature etc.      The limitation to be faced while carrying out this project is lack of money, time and data constrain.         At the end of the research I believed that there will be a way to solve this issue of distress in the banking sectors

 

CHAPTER ONE

BACKGROUND TO THE STUDY

1.1              INTRODUCTION

Distress in the Nigerian banking sectors is a problem that bank has in this recent time.  This seems as if the regulatory authorities appeared to be fighting a losing battle to sanitise the system.

Ebtiodaghe (1996) observed that banking distress occurs when customers were unable the loss of their deposits and consequent breakdown of their contractual obligation.  The central bank fails to meet its capitalization requirements, has a weak deposit base and is afflicated by mismanagement.  Aderiu (1997) said that distress in banks I based on the banks examination rating system with the word “CAMEL” that is C=capital adequaate, A = Asset quality, Management competence, E = earning strenght, L = Liquidity sufficiency.  The above mentioned is the aggregate areas that really qualifies a bank to be branded “ healthy or sick”.

A bank is considered healthy by the CBN if it maintians six criteria for instance capital paid up capital, sound management i.e bank meeting up with CBN rules, satisfy customers and shareholders interest, minimum liquidity of 30% not less than 10% of its liquid assets to be in treasury bill and certificates.  In a situation where a bank defaults in one or few of the above criteria and fails to rectify its default position within a month, it is indeed qualified to be classifeid as distressed.

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CHECKING DISTRESS IN  THE NIGERIAN BANKING SECTOR THE ROLE OF ACCOUNTANTS AND AUDITORS, [A CASE STUDY OF FIRST BANK OF FIRST BANK OF NIGERIA PLC, AWKA ). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

FRAUD ELIMINATION IN NIGERIAN BANKING INDUSTRY,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

FRAUD ELIMINATION IN NIGERIAN BANKING INDUSTRY,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

Bank deals mostly in cash, financial instrument which are generally of a negotiable and easily transferable nature. Hence, it is very imperative to say that the exposure of Banks to both internal and external fraud is very great. This pradice always common to areas involving cash, cheques, and fund transfer, operations.Much research and thought are increasingly being directed towards the study of the causes of fraud in banks because of its effects on banking and the entire economy.In the past, study carried out by financial institutions training center, Lagos showed that causes of fraud reported annually between 1996 – 2000 was about 500 and annual average money involved in attempted fraud was thirty – three million naira.Chapter one of this work deals with the introduction of what is all about Chapter two of this work did an analysis of financial fraud by examining the methods uses by fraudsters in defrauding the banking industries. It established that falsification of accounts and forged cheques and signatures ranked highest and emans of perpetrating fraud.And examination of categories of persons involved on the perpetration of fraud reveals that banks staffs are the majority.

It also discussed the technique for the elimination of frauds which includes:

  • The adoption of constant and consistent inspection of banks operation.
  • Organisation of seminars, workshops symposis etc. on fraud control for this employees.

Government should raise an eyebrow and at the same time endeavour to eradicate the end for instance the C.B.N act of 1958. Banking act 1969 and law of forgeries with  their subsequent amendment is authentic to constitute adequate ways of eliminating fraud.For instance, S.29 of 1969 Banking act stipulates, “any director of employee of a licensed bank or other person receiving remuneration from such licensed Bank or ask or agree to receive any gift, commission, emoluments, services, gratuity, money property or things of value for his/her personal benefits or advantage or to that of any of higher relation from any person other than from the bank for permitting any to withdraw any account will be guilty of offence and shall be liable for imprisonment not exceeding (3) years or fine of not more than N2000.Moreover, government have to ensure that police and legal authorities are very serious in the discharging of their duties and ensure that fraudsters are given adequate punishment.Hence one cannot say who and who is a fraudster by facial looking what it means in effect is that every new employee must be forced to give time background information of themselves while dealing with recruitment form.Finally, Banks should endeavour to go into computer system to ensure that the incidence of fraud is eliminated.

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND OF THE STUDY.

Fraud has no definite accepted definition and it is limitless in classification. No wonder why house of Lord and writers of fraud always gives way from giving a decisive definition to it. But it is very important to look into other writers just to see how they give their own definition of fraud.

 

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FRAUD ELIMINATION IN NIGERIAN BANKING INDUSTRY,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE PROBLEM OF FLOODING OF ACCOUNTANTS IN THE JOB MARKET. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE PROBLEM OF FLOODING OF ACCOUNTANTS IN THE JOB MARKET. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

The problem of flooding of accountants in the job market cannot be over-emphasized.  As we can see in Nigeria today, there are many graduates in the field of financial studies from our various institute of higher learning in our country.The influx of the unqualified accountants in the job market today in Nigeria creates unemployment which is the greatest problem facing an over populated country.  Because the number of people in this class of accountants are too much for the available job, many of them who wish to work in a bank or other related field may not be able to get apiece of work to do.This term paper is written in response to the desire to findout the ineffective control and poor accountability in our job market.  The finance available in the job market is very small and it specified objectives are to be achieved, there must be proper control of flooding of accountants in the job markets.  This term paper equally looked at the various causes of the problem of flooding of accountants, such as low per capital income, shortage of modern amenities and social disorder.From the above, this term paper is written under three chapters.  Chapter one deals with the introduction to the problem, purpose of the study, significance of the study, scope and limitation of the study and definition of terms.  Chapter two looked into the review of various literature and I further looked into the design of the study, selection of population, development of research material, procedure and data treatment.  Chapter three deals with analysis, interpretation and data presentation and finally deals with summary of findings, Discussion findings conclusion and recommendation.

CHAPTER ONE

1.1              INTRODUCTION

According to Lexicon universal Encyclopedia (1980 edition) “Accounting” is defined as the mechanism and the body of principles by means of which business activities that are capable of being expressed in terms of money are recorded, classified and periodically summarized and interpreted.  Also according to the principles of cost accounting written by J.C Eze, W.U Ani and F. Okechukwu, financial accounting is defined as “the classification and recording of monetary transactions of an entity in accordance with established concepts, principles, accounting standards and legal requirements and presentation of a view of those transactions during and at the end of an accounting period”Accountants observed the activities of business and from the welfare of events and transactions that take place identify that are evidence of these events and transactions.  From this point of view, the problem of flooding of accountants in the job market cannot be over emphasized.

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THE PROBLEM OF FLOODING OF ACCOUNTANTS IN THE JOB MARKET. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

WORKING CAPITAL MANAGEMENT AS A GUARD TO EFFICIENT MANAGEMENT(A CASE STUDY OF MODOTEL LTD ENUGU),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

WORKING CAPITAL MANAGEMENT AS A GUARD TO EFFICIENT MANAGEMENT(A CASE STUDY OF MODOTEL LTD ENUGU),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This research work was on the worxins capital management as a guard to efficient management. A care was carried art on the operation of an organization Modotels  Nigeria Limited, Enugu. the study is divided into five chapter each chapter dealing in a particular respect of the research work.Chapter one covers the general introduction of the study included the statement of problem, hypothesis, objectives and significant of the study. Also included are the limitation of the study and definition of terms.In chapter two, it deals with the literature as per working capital management as a guard to efficient management, the topic was fully treated with special preference to operation of hotel business.Chapter three studies the background and operations of Modotels  Nigeria Ltd, its flow of work and respective accounting records were fully explained, up to the point of general ledger.

The research work designed and methodology were described in chapter four, and also it has to be noted that data collection, analysis and discursion were done In the last chapter, the summary of findings and recommendations based on my research findings were fully made from my findings, it was ascertained that efficient administration of working capital is sequential to successful business organization.Again the system needs good internal control system (ICS) in order to ensure efficiency. This project was later concluded accordingly.

 

CHAPTER ONE

1.0         INTRODUCTION

Working capital is defined by ………… (…..) as in current asset less the totality of the firm’s current liabilities. The current assets of a firm include: Inventory, account receivable, short-term marketable securities and cash while the current liabilities include items such as account payable, notes payable, accounts, customers deposits (i.e. prepayments), differed taxes, and other short term debt obligations.Working capital management deals with the management of investment in current asset and in current liabilities that is, management of current asset level and arrangement of the short term credit to finance the current assets investments.

 

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WORKING CAPITAL MANAGEMENT AS A GUARD TO EFFICIENT MANAGEMENT(A CASE STUDY OF MODOTEL LTD ENUGU),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE INFLUENCE OF POOR FINANCING ON THE OPERATION OF SMALL SCALE INDUSTRIES IN NIGERIA (A CASE STUDY OF SELECTED INDUSTRIES IN AWKA METROPOLIS). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE INFLUENCE OF POOR FINANCING ON THE OPERATION OF SMALL SCALE INDUSTRIES IN NIGERIA (A CASE STUDY OF SELECTED INDUSTRIES IN AWKA METROPOLIS). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

The every economy a critical look into it will reveal that the need and desire of people are sissified by numerous small-scale manufactures not withstanding the existence of big business organizations which are locally and internationally famous.Small-scale industries contribute immensely in the growth and development of an economy through their contributions to the national income of such economy.  infact small scale industries were the mainstay of every economy world wide.Inspite of the contribution of small-scale industries financial constraint ahs been confronting their growth and development. It is because of this that the researcher decided to delve into the influence of poor financing on the operation of small scale industries in Nigeria.A critical look showed that this teething problem of finance was caused by inability of small scale industrialist to sources fund externally through the issue of shares to the public loan overdraft, grant etc. this implies that for the financing of operations of small scale industries the fund sourced internally have proved inadequate for the operations of the industries In collection of data to know the reason behind this poor financing so that a useful solution will be offered the use of questionnaires and  interview were employed.  The use of questionnaires and interview  analyzed to ascertain the truthfulness and authenticity of data collected.  In doing this the use of co-efficient of variation (C.V) was adopted in which case the response with he lower or lowest co-efficient of variation is rejected.At the end of the study it was discovered that:

a.                   Inadequate capital contributed to the failures of small scale industries.

b.                  Lack  of proper management which resulted from inadequate fund to employ competent employees contributed to the failure of small scale industries.

c.                   Absence of eternal equity contributed to the failure of small scale industries.

Following the result from the study. It could be concluded that if adequate fund is provided to them the performance of small scale industries will be improve upon.To wipe-out this ugly trend some suggestion and recommendations were offered  The gearing of the firms should be increased.

–                      Staff should be well remunerated and  motivated.

–                      Government should be given grants and tax relief’s to small scale industrialists

–                      Finally the should go for external sources of fund to finance their operation.

Therefore if the suggestions and recommendation proffered by the researcher in this study as strictly adhered  to the objective of growth and development of the small scale industries will be achieved thereby improve the state of Nigeria economy.

 

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THE INFLUENCE OF POOR FINANCING ON THE OPERATION OF SMALL SCALE INDUSTRIES IN NIGERIA, (A CASE STUDY OF SELECTED INDUSTRIES IN AWKA METROPOLIS),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE OF COMPUTERS IN MANAGEMENT INFORMATION SYSTEM A CASE STUDY OF NATIONAL FERTILIZER COMPANY OF NIGERIA (NAFCON) ONNE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE OF COMPUTERS IN MANAGEMENT INFORMATION SYSTEM A CASE STUDY OF NATIONAL FERTILIZER COMPANY OF NIGERIA (NAFCON) ONNE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

PROPOSAL

            Management information system is the formal method by which management gathers, compares analyses, processes, stores and retrieves accurate information in a timely, effective and efficient manner to aid in the decision making process of an organization. It is made up of three concepts: namely; of old, data processing was done manually, but with the introduction of computers, data is how processed with the use of computers.  This does not however totally displace human processing abilities. Hence the hypothesis of this project work are as follows:

1.                  That the role of computers in management information system is negligible.

2.                  smaller organizations should not be encouraged to use computers in their business except it I most relevant.

3.                  the disadvantages of the use of computers in general is negligible.

SOURCES OF DATA

1.                  The Closed Questionnaire

2.                  The Open Questionnaire

3.                  the Face-to-Face interview

OBJECTIVES  OF THE STUDY TO FIND OUT:

a.                   What management information system is all about.

b.                  What are the difficulties  usually encountered in trying to gather necessary data for management usage

c.                   What role has computer come to play in management information system

d.                  Whether to encourage or discourage companies in using computers for processing their data.

e.                   How a computer-based management information system could be installed.

f.                   To find out the problems usually associated with the management of information and how it could be overcome.

g.                  To survey other types of information system and their different characteristics

h.                  To find out the role of management in the development, implementation and use of computerized information system.

i.                    To find out the attitude of the users of the computerized system.

j.                    To examine different application packages that could be used in processing, storage and retrieval of information for management consumption

CONCLUSION

   Based on the findings and recommendations, it has been found out that the role computer plays in management information system is significant because the end result is encouraging though it cannot be compared to the human brain.

This is despite the fact that the use of computers  in data processing also has some disadvantages such as high cost of acquiring and reduction in manpower.

Hence smaller organizations which have the intention to get their business computerized have been advised to go ahead though some recommendations have been made to  guide them in the computerization.  Such recommendations are:-

1.                  Carrying out of feasibility study report before delving into it.  This will enable tem find out if they actually need computers or not, which areas it is needed and how much it will cost them to acquire one.

2.                  they incorporate the workers into the plan so as to dispel their negative reactions towards the new change.

3.                  to adopt the parallel change-over technique where the manual method (old method) will run hand in hand with the computer method.  This is to enable with the computer method.  This is to enable them compare the two methods before choosing the best.

The case study has also been advised to try as much as possible to  get all their personnel trained on the use of computers since they already have a training school, this will help reduce the excessively off in  manpower.

 

 

CHAPTER ONE  

INTRODUCTION

1.1       THE EVOLUTION OF MANAGEMENT INFORMATION CONCEPT

            For as long as men store to accomplish task, make decision about scares resources in uncertain situations management will continue to need information.

In this managerial  world of increasing uncertainty due to rapid change, information becomes the key to management effectiveness.  Today’s manager faces a confusion of potential sources of information, he has to determine what information he needs.  This is now a new and crucial management function. The  idea  of an information system to support management and decision making pro-dates the use of computers, which have extended the organizational capabilities for implementating such a system.

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THE ROLE OF COMPUTERS IN MANAGEMENT INFORMATION SYSTEM ,A CASE STUDY OF NATIONAL FERTILIZER COMPANY OF NIGERIA (NAFCON) ONNE),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

STRATEGIES FOR MANAGEMENT BANK LIQUIDITY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

STRATEGIES FOR MANAGEMENT BANK LIQUIDITY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This topic is about liquidity management, which means the ability of a bank to determine for itself, the appropriate point in time. This is done by looking at it’s credit portfolio is an indispensable factor for the success of any enterprise. The success or survival of commercial banks, like any other business organization is a function of it’s liquidity management.What the researcher intends to do is to explore the strategies employed by the first bank of Nigeria Plc in managing it’s liquidity. The study also aims at giving suggestions, as to how the bank, based on the findings of this research can improve it’s business through well planned and articulated liquidity management policy.In the course of this research work, the researcher encountered some constraints, such as lack of time, inadequate attention from the public and financial constraints.

Nevertheless, the researcher recommends that management accounting techniques should be applied in banks to determine the extent of liquidity holdings of a bank at a particular point in time in order to meet up with the financial obligations of the bank to their customers.

CHAPTER ONE

1.0       INTRODUCTION

Virtually, all economic units need liquidity, and banks are no exception. Demand deposits, which represent a major proportion of bank liabilities, constitute a large percentage of the nation’s money supply. Each bank must therefore maintain a substantial part of its assets in cash or in cash assets that can be converted into cash quickly. Since demand deposit represent a high proportion of bank’s liabilities, they at all times, try to prevent a rush on their liquid position. When therefore a bank is faced with infrequent loan demands, the banker is guided by what is known as liquidity ratio. The banker has to determine the ratio of loans to deposit cash ratio and legal requirements. The banker must be sure that at all times, it complies with the central bank of Nigeria liquidity requirements. The banks will put into consideration the ratio of loans to deposit liabilities. When the ratio of loan to deposit liabilities rises to a relatively high level bankers become less inclined to lend and to invest.

Commercial Banks employ different strategies to maintain adequate liquidity and these strategies include:

1.         Lending only for short term commercial purposes.

2.         Maintaining liquid assets, which ranges from cash to money at call and bills discounted.

3.         They also hold deposit at the central bank.

The combination of earning of liquid is especially relevant for commercial bank managements in Nigeria. This is because the ultimate objectives of a commercial bank is to make profits at all, the banker must maintain confidence, and to maintain confidence he must maintain an adequate degree of liquidity in highs assets.

It is therefore against this bank ground that the researcher wishes to examine the concept of liquidity management strategies adopted by First Bank of Nigeria Plc.

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STRATEGIES FOR MANAGEMENT BANK LIQUIDITY ,(A CASE STUDY OF FIRST BANK OF NIGERIA PLC),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE AND IMPORTANCE OF CENTRAL BANK OF NIGERIA IN THE PREVENTION OF BANK FAILURE IN NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE AND IMPORTANCE OF CENTRAL BANK OF NIGERIA IN THE PREVENTION OF BANK FAILURE IN NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This study, which is, captioned the Role and Importance of the Central Bank in the Prevention of Bank Failure in Nigeria has revealed the types, causes effects recognition and prevention of bank failure in Nigeria.Some of the findings indicated that banking failure was mainly as a result of poor portfolio management and inadequate capital basis, a majority of the population interviewed acknowledge the fact that bank failure an be prevented.  The study also pointed that the Central Bank of Nigeria has not relented in it effort in this light against distress within the Nigeria financial system, illustrating the role banks have to play in the growth of the economy for the well being of the country.Some other causes were identified which were discussed in details encompassing all other causes not mentioned as separate causes of bank failure.These major causes include, macro-economic instability, poor portfolio management, fraudulent activities by directors, the competent and unqualified staff, last but not the least, inadequate capital base.     The study concludes its findings by commending the that the Central bank of Nigeria should ensure that banks adhere strictly to the prudential guidelines.The tribunals that have been set-up for the purpose of debt recovery should not relevant in their effort.  Workshop should be conducted from time to time to discuss changing economic issues that affect the banking industry either positively or negatively so the bank failure will be cu-tailed to a large extent without causing havoc to the nations economy.

 

CHAPTER ONE

INTRODUCTION

1.1         BACKGROUND OF THE STUDY

The history of bank failure in Nigeria can be traced back to the early thirty’s when the industrial and Commercial Bank Limited which was established in 1929 and went into liquidation within a year it stored operation as a result of its generosity and liberty I extension of credit facilities especially to “managing directors” Ugwuanyi Willy (1977) pg. 33.

A series of failure followed after the first in degree bank failed in 1930.  These failure were attributed tot he poor banking habit of both customers and bank staff who operated in an environment that was not guided by any appropriate authority at the time. With the advent of the Central Bank of Nigeria (CBN) in 1958 and it commencement of duty in 1958, there has been the restoration of sanity within the banking industry if not for some economic distraction, which rocked the industry for some times in recent years.

 

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THE ROLE AND IMPORTANCE OF CENTRAL BANK OF NIGERIA IN THE PREVENTION OF BANK FAILURE IN NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

FRAUD DETECTION AND CONTROL IN THE PAYROLL DEPARTMENT (A CASE STUDY OF THE MINISTRY OF AGRICULTURE ENUGU STATE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

FRAUD DETECTION AND CONTROL IN THE PAYROLL DEPARTMENT (A CASE STUDY OF THE MINISTRY OF AGRICULTURE ENUGU STATE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

The research paper fraud detection and control in payroll department. The aim of conduction this research is to investigate into the cause of alarming rate of fraud and its control in the payroll of our various ministries, identify the effect and suggest possible solution towards archiving fraud free in our organization payroll.In other words, the aim of the study is to ascertain, explained and highlight the reason for fraud in the payroll department and the organization in general, how can it be detected checked and control.In the investigation and analysis of the data collected. The following problem was identified. Using the incompetent staff to carry out the job required in the payroll. Absence of good internal control and internal check, employing of dishonest staff or crooks in the payroll section, non-motivation of the staff.Furthermore, because of the ghost workers exercise done by the Enugu state government in the ministry in 1995 is one of the things that inspired my to carry out this research on how fraud can be controlled or at least reduced to the lowest based minimum. The introduction of variation control is one of the checks. Finally to suggest solution to the problem and make recommendation for the future prospects of payroll department. The following recommendation should be based on the analysis for the questionnaire and oral interview.

CHAPTER ONE

INTRODUCTION

In the recent time, fraud in the ministry dominates the front page of our newspapers, radio announcement and television announcement. The fact is indisputable in the ends of the readers, listeners and observers. This fraud stories should be on the greater concern to a patriot worthy of the name. The deeper study and the increase on the annalistically approach to ghost workers has led to the overgrowing realization of fraud and control in the ministry and autonomous department and the influence on the success or other wish of government of Nigeria

According to the research made, it is the impact the fraud have on government revenue, big organization, banks, ministries etc was what led to the writing on their topic.

Further more he ghost workers exercise done by Enugu state government in the ministry and autonomous department in 1995 and the introduction of the various control that inspired to carry out to carry out this survey and investigation on how fraud can be control or at least be reduce to the lowest bar minimum.

According to the Oxford advance learner’s dictionary of the current English, the word fraud simply means criminal deception.

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FRAUD DETECTION AND CONTROL IN THE PAYROLL DEPARTMENT, (A CASE STUDY OF THE MINISTRY OF AGRICULTURE ENUGU STATE),. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

GOVERNMENT INTERNAL AUDIT ACCOUNTABILITY IN MINISTRIES / EXTRA-MINISTERIAL DEPARTMENT. A CASE STUDY OF THE OFFICE OF THE AUDITOR-GENERAL OF ENUGU STATE. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

GOVERNMENT INTERNAL AUDIT ACCOUNTABILITY IN MINISTRIES / EXTRA-MINISTERIAL DEPARTMENT. A CASE STUDY OF THE OFFICE OF THE AUDITOR-GENERAL OF ENUGU STATE. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

Abstract

This study is intended to find out the impact of government internal audit and accountability in ministries and Extra – ministerial in Nigeria context specifically. The literature review describes the various internal audit and accountability in ministries and extra-ministries and efficient application so that the funds general within these entities are properly utilized and accounted for by the responsible officials. The arrangement of the topic discussed in reviewing the literature was designed to supported the hypothesis which form the basis of the study.

chapter one

introduction

background of the study

the practices of auditing originated from the necessity to impose some system of check upon persons whose business involves to record the receipt and disbursement of money on behalf of theirs. However, due to the crudeness of accounting methods in the early stages of civilization individuals checked accounts for themselves. The impetus given to trade and commerce in the 15th century by the Renanssance resulted to the discovery of a more scientific system of accounting and in 1494 LUCCA PACIOL, an Italian publisher of the principle of Double Entries Book-keeping in Venice. Thus, by this discovery it because possible to record all sort of merchandise transactions involving all matters of accounts and this development resulted to the application of Audit on these records.

The mechanical invention of the Eighteenth centuries which lead to the industrial revolution coupled with increased need for financial assistance to finance ambigions projects explained the emergence of several joint stock companies and corporate under-takings utilizing enormous capital under the management of few individuals. Under these circumstances the advantages to be gained  by utilizing the services of professional auditor were apparent to be commercialized publicly, generally to force the operator of these enterprises to account for the results of all transactions under-taking by them, on the company behalf during the period of stewardship.

In order to attest for the emergence of auditing as a profession, it is widely accepted that autonomous expertise and the service ideal are not most distributive attributes of a profession, together with the existence of a systematic body of knowledge and authority recognized by the client or user. All these have been defined for and are true of auditing.

The need for auditing mostly government audit exist in the operations of government and institutions. Based on the above management, burden has become of greater importance because of wider delegation of authority and responsibility.

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GOVERNMENT INTERNAL AUDIT ACCOUNTABILITY IN MINISTRIES / EXTRA-MINISTERIAL DEPARTMENT. A CASE STUDY OF THE OFFICE OF THE AUDITOR-GENERAL OF ENUGU STATE. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

AN APPRAISAL OF THE EFFECTS OF ETHNICITY ON THE PERFORMANCE OF OIL COMPANIES IN NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

AN APPRAISAL OF THE EFFECTS OF ETHNICITY ON THE PERFORMANCE OF OIL COMPANIES IN NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

PROPOSAL

The ability to use appraisal to develop and motivate employees is a core management skill. Constructive feedback or performance is vital if staff are to build on their strength achieve their full potential and make the maximum contribution to their organization.In Nigerian organization, certain factors has been identified that render  the performance appraisal system ineffective. Ethnicity has been studied as factors that affect the performance studied as a factor that affect the performance appraisal system. The various concepts of ethnicity has be also determined in this study.The method that I used to obtain the information or data was primary and secondary data due in experimental survey method.The study established to an extent, ethnicity has strong effect on the performance appraisal system of an organization. Indeed, Appraisal method/Techniques lay down cannot always be followed because of ethnicity, Appraisal results cannot be influenced to favour or against a particular ethnic group; Disciplinary action are overlooked in dominant ethnic group; Job condition ethnic group and motivation is more in the same ethnic group motivation is more in the same ethnic group. Although this measure is to measure the impact of ethnicity on the . appraisal performance system .Base on the findings, I will recommend that the working environment should be made pleasant to employees irrespective of their ethnic group; communication gab between the subordinate and departmental heads have to improved, so that an attempt is made to discuss constructively whether expected results predetermined were met exceeded or not. Apart from wages and salaries and promotion other forms are incentives, such as training the workers. Should be given to subordinate to arouse their interest in their job. Department heads should be able to concentrate on area needed to facilitating the growth and development in employees training and coaching  feedback of appraisal information and present system of appraisal should be reviewed to ensure that merit and capabilities of the subordinates are given greater weight in determining who should be give due position irrespective of ethnic  affiliation.Above all, the performance appraisal should be known and understood as a result oriented tool for individual irrespective of ethnic affiliation and organizational growth otherwise, encounter productive particularly, if the findings is focused on the personality, and mannerisms on the incumbents in the relation with ethnicity, rather on the aspects of to related behaviour.

 

CHAPTER ONE

 

1.1              INTRODUCTION

Effective appraisal is the heart of successful management. The ability to use appraisal to develop and motivate employees is a core management skill. The concept of ethnicity performance has become companies and often, transaction corporations.

It is a means of formally assessing the activities over a given period of individuals with organization who are charged with specific sub-objective which are derived from the organizations overall objective so as ascertain the degree of achievement of these sub-objectives with the larger framework of the organizational object.

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AN APPRAISAL OF THE EFFECTS OF ETHNICITY ON THE PERFORMANCE OF OIL COMPANIES IN NIGERIA,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ACCOUNTING FOR STOCK AND WORK-IN-PROGRESS IN MANUFACTURING FIRMS. A CASE STUDY OF EMENITE LIMITED ENUGU,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ACCOUNTING FOR STOCK AND WORK-IN-PROGRESS IN MANUFACTURING FIRMS. A CASE STUDY OF EMENITE LIMITED ENUGU,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This study is designed to portray the theory and practice in respect of the accounting for stock and work-in-progress is in manufacturing firms. It is helped that the knowledge presented by this study will tremendously be useful to manufacturing firms in particular and the general public.

In my attempt to achieve the  aforesaid objective, the study was divided into five chapters. However, each chapter is further split into various subheadings for better presentation and clearer understanding.

  There was much concentration on the evaluation of the internal control procedure for requisition, purchase, reception, storage and issue of materials, inventory control, management and valuation. The hypothesis was accepted based on the analysis of the data collected  and test therein.

 

CHAPTER ONE

1.1    INTRODUCTION

Stock work-in- progress otherwise known as inventories are  defined by the international accounting standards (IAS)

No2 as tangible property.

(a)        Held for resale in the ordinary cause of business

(b)        In the process of production for such sale or

(c)         To be consumed in the production of goods or services for such sale.

This stock and work-in-progress cannot be the stock of raw materials, finished goods, component parts utilized in the production process and the items that have begun the production cycle are yet to complete the production process.

Survey carried out by the accountants of international study groups in 1968 showed that stock and work-in-progress broadly called inventories, generally constitute after fixed assets, the largest balance sheet in the financial report of manufacturing firms. Expressed as percentage of net assets after  depreciation, the size of such inventories is assessed at  twenty six percent (26%). According to J.Fred Welton and Eugene F. Brigham,, although various occur, inventories to sale ratio is usually concentrate in 12%-20% range. As we know in accounting, opening stock plus purchase less closing stock equal the  cost of goods sold this figure when subtracted from sales produces the gross party. Thus, accounting for stock and work-in-progress is of particular importance to the management of a firm since such treatment will affect both income measurement and financial statement. Adequate management and control policies enhance the growth and working capital policy of any firm

         

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ACCOUNTING FOR STOCK AND WORK-IN-PROGRESS IN MANUFACTURING FIRMS,. A CASE STUDY OF EMENITE LIMITED ENUGU,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE IMPACT OF STANDARD COSTING ON PROFITABILITY AND MANAGERIAL EFFECTIVENESS OF A MANUFACTURING INDUSTRY A CASE STUDY OF FERDINAND INDUSTRIES LIMITED, URULLA IDEATO NORTH LOCAL GOVERNMENT AREA OF IMO STATE, NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE IMPACT OF STANDARD COSTING ON PROFITABILITY AND MANAGERIAL EFFECTIVENESS OF A MANUFACTURING INDUSTRY A CASE STUDY OF FERDINAND INDUSTRIES LIMITED, URULLA IDEATO NORTH LOCAL GOVERNMENT AREA OF IMO STATE, NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

PROPOSAL

This research work will treat in detail the impact of standard costing on profitability and managerial effectiveness of a manufacturing industry.  It will also take into account what standard cost does and the check it provides or control such that exceptional profit oriented goal performance can be achieved and on the reverse, adequate punishment to be exercised for bad performance.Chapter one of this work is going to discuss the brief history of the case under study, statement of the problem, purpose of study, significance of the problem, scope of the study, limitations of the study, assumption of the study.In Chapter two, the researcher will deliberate on the standard costing and overview, characteristics of standard costing, advantages and disadvantages of standard costing, essential features of standard costing, standard cost card, types of standard costing, setting standard, revision of standard etc and the areas standard costing helps in improving management efficiency.Chapter three will consider design and methodology, selection of data and analysis, presentation and data analysis, test of hypothesis and interpretation of result.Finally, chapter five will contain the summary of findings, conclusion from the study, recommendations and suggestions for further research.

 

ABSTRACT

The impact of standard costing on profitability and managerial effectiveness of a manufacturing industry.  The standard cost reveals the goals, spur actions, and provide check or controls such that exceptional profit oriented goal performance can be achieved and on the reverse, adequate punishment to be exercised for bad performance.  Standard costs cause appraised to be made over production facilities and from management intentions and capabilities and is a first step in strength and weakness appraisal.There also led to the preference of standard costing to other methods with the development of standard of standard costing system in 1920s, it was brought into the accounting system that total variances might be accumulated as well as detailed variances.It is believed that standard costing helps management to plan for future, and if any justification is required for this project on the effects of standard costing on profitability’s and managerial effectiveness of a manufacturing industries.Firstly, the financial management should penetrate into every cranny of the enterprise and indoctrinate all management in their working habits.  Secondly, cost should be given the maximum attention while emphasis on the effects.Finally, since revenue less cost gives balance profit, the profit should be increase as it is what industry is aiming at.

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THE IMPACT OF STANDARD COSTING ON PROFITABILITY AND MANAGERIAL EFFECTIVENESS OF A MANUFACTURING INDUSTRY A CASE STUDY OF FERDINAND INDUSTRIES LIMITED, URULLA IDEATO NORTH LOCAL GOVERNMENT AREA OF IMO STATE, NIGERIA. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ANALYSIS OF FINANCIAL STATEMENTS AS AN AID TO MEANINGFUL INVEST DECISION MAKING (A CASE STUDY OF INVESTMENT FIRMS IN ENUGU STATE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ANALYSIS OF FINANCIAL STATEMENTS AS AN AID TO MEANINGFUL INVEST DECISION MAKING (A CASE STUDY OF INVESTMENT FIRMS IN ENUGU STATE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

            The purpose of this research project was to find out how financial statement analysis service of our aid to meaning decision by investment firms in Enugu state.  Financial statement analysis are used by investment firms to make their investment decisions.  They are also used by management to make their decisions.  Some of the ratio commonly computed by investment firms are profitability ratios, liquidity ratios.  Market value ratios leverage ratios and ordinary share ratios.        This research project was embarked on because most investment firms do not implement meaningful decision that will enhance their meaningful opportunities.  Moreover, most investment firms do not study investment opportunities as to understand the risk associated with investment proposals as to make meaningful decision based on that before investing their resources.  The methodology used in this work include subheadings like research decision, sampling procedure, data collection and method of data analysis as well as statistical tool of analysis.       The method of research design that was adopted in this study is the sample survey through the administering of questionnaire to investment firms.  I was discovered that making investment decisions using financial statements analysis would very significantly with the profitability of the investment firms.This is so because using chi-square to test our hypothesis.  We discovered that the tabular value of 3.841 is less than our calculated value of 7.815.       We equally accepted the second test in the alternative hypothesis which stats that “there is significant relationship between decision computing with chi-square (X2) we had 3.841 while the tabular value is 3.841. Thirdly, we also accept our alternative hypothesis in our third hypothesis which states that “There is significant relationship between investment decision and investment profitability because from calculated X2 we had 9.483 in the tabular value.Lastly, we made recommendations to both investors and management in investment firms on how best to utilize financial ratios in making meaningful investment decisions.

 

CHAPTER ONE

1.1       PREAMBLE

In recent times there has been a rapant growth of towns and cities in this country. This growth has been accompanied with an ever increasing physical social and the technological changes as well as complex Urban Pattern of development.

This fast development with its attendant sprawling effects on the original settlement and town out skirted always cause some land use congestion. Personal and political pressures etc. within and around the area involved.

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ANALYSIS OF FINANCIAL STATEMENTS AS AN AID TO MEANINGFUL INVEST DECISION MAKING, (A CASE STUDY OF INVESTMENT FIRMS IN ENUGU STATE). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

POOR PERFORMANCE OF STUDENTS IN ACCOUNTING SUBJECTS (A CASE STUDY OF ENUGU STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY ENUGU). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

POOR PERFORMANCE OF STUDENTS IN ACCOUNTING SUBJECTS (A CASE STUDY OF ENUGU STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY ENUGU). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This research is examined on a critical term the causes of students poor performance in accounting subjects at Enugu

state university of science and technology (ESUT). It took a close look at the various benefits associated with the reading of accounting studies and also identified the problems inherent in the teaching of accounting subjects.In doing this, a sample of selecting accounting department in Enugu state university of science and technology (ESUT) were surveyed. Also, various analytical tools such as questionnaires personal observation were employed for the gathering of information.It also gave possible recommendation towards the realization of the objectives of accounting studies in Enugu state university of science and technology (ESUT) were surveyed.Also, various analytical tools such as questionnaires personal observation were employed for the gathering of information.It also gave possible recommendation towards the realization of the objectives of accounting studies in Enugu state university of science and Technology (ESUT).

 

CHAPTER ONE

1.0       INTRODUCTION

According enjoy an unalloyed, uncompromising and unfettered priority in  Nigeria. If there is any misgiving about this assertion, it is not with accounting education.

It is the danger that beneficiaries will regard accounting education as a panaceas for all their problems. Where expectation become unfulfilled due to bad planning, then frustration and discontent will set in an accounting profession which had begun a lodestar, might and up as a mirage this is one way of starting the oblivious fact that disillusionment can set in through bad planning and negligence.

Non the less arts oriented subjects can survive even with in the context of bad planning but social science taught in a similar situation will create an unfathomable discontentment.

Accounting has been defined as a system of principles and techniques, which permits the recordings, analysis, interpretation and communication of financial information as an aid to managerial decision – making.

The recording phase of accounting is commonly called Book – keeping the analysis, classification and systematic recording of the interpretative phase is called accountancy the professional aspect of accounting practice.

A study of business accounting is therefore concerned with the process of measurement and communication, both of business income and the financial position of an entry.

Accounting is a subject that is offered in  Nigeria secondary schools, polytechnics and universities accounting subjects includes management accounting, financial accounting, cost accounting, public sector accounting, taxation and auditing.

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POOR PERFORMANCE OF STUDENTS IN ACCOUNTING SUBJECTS (A CASE STUDY OF ENUGU STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY ENUGU). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE OF AUDITOR IN COMPUTERIZED ACCOUNTING SYSTEMS. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE OF AUDITOR IN COMPUTERIZED ACCOUNTING SYSTEMS. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

CHAPTER ONE

INTRODUCTION

Computer is an electric device, which accept and process data by following a set of instruction (programmers) to produce an accurate and efficient result (information). It is very systemic and complex and operates within a system theory. It has input, control processing units, output and the backing storage. A computer may be analog; digit and hybrid computers. It can also be mainframe, mini, or micro computer.

Computer has passed many generation. We are now in the fifth generation of computer known as the micro age. Computer of this generation uses artificial intelligent. It is important that the auditor, auditing in computer environment, like companies to the aware of the nature of computer accounting system uses in such companies.

A computerized accounting system is a  system which the electronic data processing (EDP) is used in recording, processing, retrieving and up dating the accounting records. The use of EDP in accounting system keeps a very wide range accounting information. Such as pay roll, purchases and creditor ledger , sales and debtors ledger, and cash books, inventories, fixed assets as well as financial analysis of profit projection or forecasting cash flow and statement budgeting, capital investment and many others.

The use of computer in the accounting system ensure more efficient and reliability in processing of information, since computer hardly make mistakes. Unless mistake resulting from faulty data input.

In auditing organization with computerized system, the auditor responsibilities and duties do not change rather it is the means and form of processing financial that changes.

The auditor still owns the duty of skill and care in carrying out his assignment or engagement. It becomes indispensable that the auditor should, acquaint himself with the particular management information system, especially the computer installation concerned.

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THE ROLE OF AUDITOR IN COMPUTERIZED ACCOUNTING SYSTEMS,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

LOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA. (A CASE STUDY OF UNION BANK OF NIGERIA PLC. NEW MARKET ROAD ONITSHA). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

LOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA. (A CASE STUDY OF UNION BANK OF NIGERIA PLC. NEW MARKET ROAD ONITSHA). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

PROPOSAL

    Lack of fund has been one of the major problems militating against the progress and growth of our business organization. This is caused by a lot of factors such as low savings (vicious circle of poverty), ignorance of the public to invest, mismanagement etc. there are many ways of solving the problems of finance and providing adequate finance to our business organizations such as equity stock, savings, ploughing back profits, but for the purpose of this research, we have to pay attention to loan syndication.This research will focus on the appraisal of the methods and ways through which Union Bank of Nigeria Plc source for fund in form of loan from a group of financial institutions such as commercial banks, merchant banks, insurance companies, development banks and financial institution like governments thrift societies friends. It will also focus on the different classes of loan notably, long-term loan, medium term loan, and short term loan. The classes of loan provided by the different types of financial institutions enumerated above will also be considered by Union Bank of Nigeria before using loan as a source of finance instead of other sources. Similarity, it is also pertinent to treat the factors, which are considered by consortium of financial institutions before giving out loans to business organizations. The securities and interest rates treatment acceptable to the consortium will also be look into. Also, the reason why some financial institutions do not go into loan syndication will also be inquired into.             Before ending this research, it is important to study how the interest of the constitution is protected in the Union Bank of Nigeria as well as how the interest of each member of the consortium is protected within the group.

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LOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA. (A CASE STUDY OF UNION BANK OF NIGERIA PLC. NEW MARKET ROAD ONITSHA). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE IMPACT OF TAX HOLIDAY ON THE INFANT INDUSTRIES IN IMO STATE. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE IMPACT OF TAX HOLIDAY ON THE INFANT INDUSTRIES IN IMO STATE. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

CHAPTER ONE

INTRODUCTION

Tax policy among other being the basic objective of the encouraging capital formation for economic development.

Income that would otherwise be spent on non-essential is usually taxed out of their holder to mobilize enough savings to finance needed investment both in the manufacturing and social overhead capital.

However, in thud capital formation, sole development of the economy lies in the conflict between the need for high rate to raise enough capital for the government owned investment in utilities and infrastructures which are essential for development and industrializations and the need to keep tax rate low enough to encouraged private investor in industries and in agriculture.

The situation is further compounded by the fact that by and large, income are low in the development economy (giving rise to low tax revenue generally) and those tax which vary directly and rise progressively with the income and which are most effective in retrieving a good portion of gain of the economic development are the once likely to affect return from private investment.

In other to meet up with those conflicting demand, the approach is to combine high rate of tax with preferential treatment to categories of desired development activity (with penalty tax for undesired activities). At 45%, the company income tax rate in Nigerian as considered high enough could be an effective tool for any necessary deduction in the economic activity. But apart from the deriving, the must effective way of mobilizing capital , there is still he need to direct investment to the desired sector of the economy. Other dilemma here is that investment which meet the main motor of the private investor (capital profits) are not necessary those that bring about high social benefits. In fact before 1964, value added production was quit unattractive to entrepreneur. They regard trading and contract business as the quickest way of increasing the income. In addition, the British trading firm that dominated the economy with the assistance of the colonial government discourages diversified indoctrination in Nigerian to protect their own trading interest.

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THE IMPACT OF TAX HOLIDAY ON THE INFANT INDUSTRIES IN IMO STATE,. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

COMMUNITY BANK AS A CATALYST FOR RURAL DEVELOPMENT IN ENUGU STATE [A CASE STUDY OF OGUI URBAN COMMUNITY BANK, ENUGU]. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

COMMUNITY BANK AS A CATALYST FOR RURAL DEVELOPMENT IN ENUGU STATE [A CASE STUDY OF OGUI URBAN COMMUNITY BANK, ENUGU]. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This project is a study of community bank as catalyst for rural development using ogui urban community bank as a case study. The research work brought to light the various ways through which the rural areas have been able to benefit and gain development through the existence of community banks.   During the course of the research it was seen that the community banks of rural areas through increasing the credit position, mobilizing the savings of the rural dwellers and generally improving the banking habit of the people.  The research was done using research methods that included; collection of data through questionnaires, oral interview, observations and secondary data.The research intends to be beneficial to research students, community banks, and industrialist. The economy and the public at large

 

CHAPTER ONE

BACKGROUND OF THE STUDY

Long before the inception of community banking system in Nigeria , intensive campaigns were organized nation wide urging community to form community Development  Association [CDA] or where they already exist6 in form of town union or patriotic association to register them in their local government. This was to create an avenue for which they could more effect t lively participate in rural development programmes at grassroots .Development association was found and registered as at 31stDecember 1992.

It is pertinent to mention that government had before this time established some development agency intended to providing grassroots’ development. These include National Directorate for Employment [NDE] Better life programmed of Rural Dweller [BLPRD] Rural Banking ,people’s Bank and Directorate of food , road and  Rural infrastructure [DEFRRI] whose primary task was to a identify , involve and support viable local community organization in the mobilization of the rural population for sustained rural development activities bearing in the mind the need of promoting greater participation and economic self- reliance on rural development “

On the basis of this and other functions defined in the Decree 4 of the 1987, as stressed by mabogunje, the directorate fell into three broad areas as

  1. Community organization and social mobilization
  2. Infrastructural Development
  3. Promotion of productive activities.

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COMMUNITY BANK AS A CATALYST FOR RURAL DEVELOPMENT IN ENUGU STATE, [A CASE STUDY OF OGUI URBAN COMMUNITY BANK ENUGU]. A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE OF INTERNAL AUDITING DEPARTMENT IN A HIGHER INSTITUTION OF LEARNING (A CASE STUDY OF I.M.T). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

THE ROLE OF INTERNAL AUDITING DEPARTMENT IN A HIGHER INSTITUTION OF LEARNING (A CASE STUDY OF I.M.T). A RESEARCH PROJECT MATERIAL ON ACCOUNTING

ABSTRACT

This research work was undertaken to ascertain the roles, which an internal audit department can play in higher institutions of learning in the institute of management and technology I.M.T Enugu.In chapter one, you will the purpose of study, statement of problem, importance, scope and limitation of the study. The purpose of study was to find out the functions of internal audit department and how far these functions have contributed to the overall performance of this institution. Others include whether the internal audit department encounter any problem in the discharge of their duties and the consequence of not having internal audit department in an organization at all.In chapter two, it is the review of related literature, that is the review of the previous work of other authors, researches newspaper. In this chapter, you will find the definition, the importance, objectives and the functions of internal audit department in this institution.In chapter three is the research design and methodology. It analysis the sources of data location of data, method of investigation and collection. Chapter four is the data analysis and presentation. Also have you will see the answers of the ten distributed questionnaire that was answered by the staffs of I.M.T.While in chapter five the researcher stored the view that if an internal audit department is established in higher institution of learning, it will contribute immensely towards the overall performance of the institution. Through minimizing fraud and extravagant use of funds and inducing workers to give complete and accurate information.

 

CHAPTER ONE

INTRODUCTION

1.1         BACKGROUND OF THE STUDY

The role of internal audit has grown tremendously in most organizations in the recent past. This can be attributed to the growths of the organizations that extends widely extended operations and the need to ensure that the organizations policies and basic accounting controls are observed at every part of the organization. Again it can be observed as a measure by management to ensure that the government regulations concerning the operations of organization, both public and private are duly complied with so as to safe guard confect and inconsistencies with the law.

As the organization expands, the supervisory responsibility boarders. The herd can no longer have personal knowledge of every aspect of the organization. It becomes impossible for him to monitor the continuing effectiveness of all controls. This calls for the delegation of this responsibility to a separate department in the organization; one of these departments is the internal audit department.

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THE ROLE OF INTERNAL AUDITING DEPARTMENT IN A HIGHER INSTITUTION OF LEARNING, (A CASE STUDY OF I.M.T). A RESEARCH PROJECT MATERIAL ON ACCOUNTING