TABLE OF CONTENT
Title i
Approval ii
Dedication iii
Acknowledgement iv
Abstract v
Table of contents vii
Chapter One – Introduction
1.1 Background of the study 1
1.2 Statement of problem 2
1.3 Objective of the study 3
1.4 Research Question 3
1.5 Significance of the study 4
1.6 Scope of the Study 5
1.7 Limitation of the Study 5
1.8 Definition of Terms 6
Chapter Two – Literature review
2.1 The Meaning of Auditing 8
2.2 Aims and Purpose of Auditing 9
2.3 Essential Features of Auditing 11
2.4 Improving Audit 15
2.5 What is Fraud 16
2.6 Causes of Fraud 16
2.7 The prevention of Fraud 18
2.8 Differences Between Internal and External Auditor 20
Chapter Three – Research methodology
3.1 Research design 21
3.2 Population of the Study 22
3.3 Sampling Size 22
3.4 Sampling Technique 22
3.5 Research Instrument 22
3.6 Validity of the Instrument 23
3.7 Reliability of the Instrument 23
3.8 Method of Data Collection 23
3.9 Method of Data Analysis 24
Chapter Four – Data Analysis and Interpretation
4.1 Introduction 26
4.2 Presentation and Analysis of Research Question 26
4.3 Discussion of Findings 34
Chapter Five – Summary conclusion and recommendation
5.1 Summary of findings 36
5.2 Conclusion 36
5.3 Recommendation 37
5.4 Suggestions for Further Study 37
References 38
Appendix 40
CHAPTER ONE
INTRODUCTION
Background of the Study
Internal audit is an independent review and appraisal of the accounting, financial and other operation of the organization by a special staff as a basis of effectiveness and efficiency services to management.
Therefore, the impact of internal auditing in organization is to help in the examination and inquiry into a statement of accounts, the underlying records, document, assets, and liabilities in other to measure and evaluate the adequacy, efficiency and effectiveness of the organization internal audit irregularities and also present fraud.
A good internal audit control in the organization will help the organization in the preparation of financial statement that will be devoid of financial misstatement. Organization is a very important sector in the development of a nation’s economy which is responsible for safe keeping of money and performing of other auxiliary functions. Some of the functions of organization include the following;
a. Consulting services
b. Acceptance of deposit
c. Granting of loans to customers with interest on the loan granted.
According to Agbawe (2005) auditing is an examination and inquiry into a statement of account, the underlying records, documents, assets and liabilities by an independent person with a view to express an opinion as to compliance and correctness of the financial statement to relevant acts and regulations.