ANALYSIS OF AUDIT PROCEDURE IN A PUBLIC SECTOR ORGANIZATION (A CASE STUDY OF KADUNA STATE WATER BOARD)
ABSTRACT
Auditing is an essential tool for proper governance in the public sector. It constitutes an indispensable control mechanism for ensuring proper management of economic resources and for ensuring compliance with prescribed financial policies and regulations.
Effective audit procedures become important to the public sector organization in order to curtail the rate of financial mis-management and abuse which hampers the growth and proper administration of the organization.
Auditing in the public sector has extended more than the traditional financial statement audit to the value for money audit. This audit is concerned with the economy, efficiency and effectiveness of a particular function or department within the body whose affairs are being audited.
For the purpose of the study, data were collected through the use of questionnaire, observation and other written documents.
Major findings of the research shows:
- That auditing cannot exist without the preparation of accounts.
- That auditing has helped to uncover irregularities, error and other financial mismanagement.
- That auditing is imperative in public sector as it would help them motivate and maintain operational autonomy and will alongside help them ensure economic stability.
TABLE OF CONTENTS
PAGES
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Table of Content v
Abstract vi
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study 1
1.2 Statement of Problems 3
1.3 Aims and Objectives of Study 3
1.4 Scope of the Study 4
1.5 Significance of the Study 5
1.6 Limitations of the Study 6
1.7 Statement of Hypothesis 7
1.8 Definition of terms 8
1.9 Historical Background of Case of Study 9
CHAPTER TWO: LITERATURE REVIEW
2.1 Origin of Audit 10
2.2 Development and Growth of Audit in Nigeria Definitions of
Audit purpose of audit 10
2.3 Types of audit 11
2.4 External audit 13
2.5 Auditing guidelines Planning Controlling and Recording Internal
Audit Value for Money Audit 14
2.6 Distinction between Accounting and Auditing Functions 14
2.7 Auditing Guidelines and Procedures: Planning, Controlling
And Recording Planning 20
2.8 Audit Evidence 25
2.9 Internal Controls 29
2.10 Internal Audit 35
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction 48
3.2 Research Design 49
3.3 Population Description 50
3.4 Sample Description and Techniques 50
3.5 Research Materials/ Instruments 51
3.6 Method of Data Collection and Organization of Data. 51
3.7 Organization of Data 53
3.8 Statistical Treatment of Data 53
CHAPTER FOUR: DATA PRESENTATIONS AND ANALYSIS
4.1 Introduction 55
4.2 Analysis and Evaluation of Data 55
4.3 Test of Hypothesis 62
4.4 Findings of the Study 68
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS.
5.1 Summary 71
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