CHAPTER
ONE
INTRODUCTION
1.1
Background Of The Study
Globally the role of auditing is being appreciated
for its avowed operations and activities. Ihe and Umeaka(2006:370) defined a
process carried out by suitably qualified auditors during which the accounting
records and the financial statements of an organization are subjected to
examination by an independent auditor with the main objective of expressing an
opinion in accordance with the relevant terms of appointment purpose” they also
noted that they were grouped into two
1.2 Primary
objective: the auditor (one who carries out audit operation) is to report whether the financial statements shows
a „true financial affairs of the organization during the period under review
and end date.
1.3 Secondary
objective: This concerns the detection of frauds and errors and the prevention
of frauds and errors The crux of this research work however is based on
internal Audit – which is a very important aspect of auditing, how the internal
audit unit of the government can be made effective in order to assist in the
efficient administration of local Government Areas (LGA).
1.2
objectives of the study
1.2
To determine the level of adequacy of the system of
internal control
1.3
Report
findings and recommendations to the council
1.4 To
investigate compliance with the financial memoranda and other circulars.
In carrying out its duties, the internal
audit department shall be working closely with the treasury department and make
use of the following financial statement provided by local government as
enumerated by Ihe and Umeaka (2006:204)
¯
Statement
of revenue and expenditure
¯
Statement
of actual expenditures and actual revenues
¯
Statement
of advance account deposit account balances
In the context of the subject matter,
the researcher has selected Isiala-mbano localgovernment areasand Mbaitolilocal
government areas for this study.
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complete materials (Chapter One to Chapter Five), visit www.researchshelf.com
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