EVALUATION OF VALUE FOR MONEY AUDIT, AS A TOOL FOR FRAUD CONTROL IN THE PUBLIC SECTOR (A STUDY OF POWER HOLDING COMPANY OF NIGERIA ABUJA)

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Every sector of the economy both the private and the public sector has its own objectives and goals to achieve. For the public sector of the economy, their goal is to satisfy the social needs of the citizens and in the effort to achieve these purposes, auditing more often, play a vital role.

The size and scope of these sectors have sometimes made it clear for the executor to exercise personal and first hand supervision of operation. It is in this light that value for money audit established by management is initiated, for any organization to carry out its business efficiently and effectively, there must be some factors that must be put in place for the smooth running of the organization like materials, machines, human labor and money e. t. c.

Auditing is seen to play an intermediary function in between management and the resources of the organization. It is also fundamental to any business either the public or private sector, which will help the business to keep its adequate financial records. These financial records are kept in response to the demand by a system control which requires that the business enterprise must be carried out in an orderly manner, ensure adherence to management policies, safe guard the assets and secure possibly the completeness and accuracy of the records. Irrespective of these facts of system of control established by the management of the organization, fraud still thrives.

In the early 1970s, the role of the state auditors began to change dramatically. Changes began in USA, Canada, and in several European countries. The representative of the people started demanding information on the efficiency and effectiveness of public expenditure.

 In Nigeria no specific legislation has been put in place to empower auditors to carryout value for money audit. However, the 1999 constitution section 88 (2) empowered both the two federal house and the state house of assembly to conduct investigation to expose corruption, inefficiency or waste on the execution or administration of law within the legislative competence and in the disbursement or administration of fraud appropriated by it.

RELATIONSHIP BETWEEN SELF-ESTEEM AND LOCUS OF CONTROL AMONG WELL FUNCTIONING ADOLESCENTS

                                                                    CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

 Adolescents experience many problems, including teen pregnancy, alcohol and drug use/abuse and violence, school failure and eating disorder (Callalian, & Stein 2003). The extent and seriousness of these problems may cause social scientists, policy makers and parents to overlook youth who are well functioning: teens that excel in school, have positive family and peer relationships, and have minimal participation in behaviors such as stated above. (Demon, 2004; Moore et al., 2004).

 Adolescent has been described as a phase of life beginning in biology and ending in society (Peterson, 1988). Indeed, adolescent may be defined as the period within the life span when most of a person’s biological, cognitive, psychological and social characteristics are changing from what is typically considered child-like to what is considered adult-like (Learner and Spainer, 1980). For adolescents’, this period is a dramatic challenge, one requiring adjustment to changes in the self, in the family, and in the peer group. In contemporary society, adolescent experience institutional changes as well. Among young adolescents, there is a change in school setting, typically involving a transition from elementary school to either junior high school or middle school; and in late adolescence there is a transition from high school to the worlds of work, University or childrearing.

Adolescent is a time of excitement and of anxiety, of happiness and of troubles, of discovery and of bewilderment, and of breaks with the past and yet of links with the future. Adolescence can be a confusing time – for the adolescent experiencing this phase of life; for the parents who are nurturing the adolescent during his or her progression through this period; for adults charged with enhancing the development of youth during this period of life, and with disturbing, historically unprecedented frequency – for adolescents who themselves find themselves in the role of parents. When we searched the literature it became clear that the vast majority of adolescent research reported on the causes and correlates of problem behaviors (Shagle and Barber, 1995; Small and Luster, 1994; Pick and Palos, 1995).

AN ASSESSMENT OF COST PERFORMANCE AND ACCOUNTABILITY IN PRIVATIZED PUBLIC ENTERPRISES IN NIGERIA.

CHAPTER ONE

INTRODUCTION

1.1              Background of the Study

Privatization of state-owned enterprises has become an important phenomenon in both developed and developing countries. Over the last decade, state-owned enterprises (SOEs) have been privatized at an increasing rate, particularly in developing countries (DCs). Privatization has become an important phenomenon in both developed and developing countries. Over the past decade, privatization attempts have been occurring at an increasing rate, especially in developing countries. The compound annual average growth rate was around 10% between 1990 and 2000, with global privatization revenues jumping from $25 billion in 1990 to $200 billion in 2000. The number of countries that have implemented privatization policies has exceeded 110, not to mention that privatization has touched almost every aspect of economic activity (Shadeh, 2002).

Privatization of state-owned enterprises (SOEs) has become a key component of the structural reform process and globalization strategy in many economies. Several developing and transition economies have embarked on extensive privatization programmes in the last one and a half decades or so, as a means of fostering economic growth, attaining macroeconomic stability, and reducing public sector borrowing requirements arising from corruption, subsidies and subventions to unprofitable SOEs.

By the end of 1996, all but five countries in Africa had divested some public enterprises within the framework of macroeconomic reform and liberalization (White and Bhatia, 1998). In line with the trend worldwide, the spate of empirical works on privatization has also increased, albeit with a microeconomic orientation that emphasizes efficiency gains (La Porta and López-de-Silanes, (1997); Boubakri and Cosset, (2001); Dewenter and Malatesta, (2001) D'Souza and Megginson, (2007). Yet, despite the upsurge in research, our empirical knowledge of the privatization programme in Africa is limited. Aside from theoretical predictions, not much is known about the process and outcome of privatization exercises in Africa in spite of the impressive level of activism in its implementation.

PROMOTING TAX COMPLIANCE AND REVENUE GENERATIONS THROUGH EFFECTIVE TAX AUDIT (A CASE STUDY OF FEDERAL INLAND REVENUE SERVICE)

 

CHAPTER ONE

INTRODUCTION

1.1  Background to the Study

The development of any nation depends to a large extend on the amount of revenue generated and applied by the government on public infrastructure for the benefits of members of that society. According to Appah (2010), the development of any nation depends on the amount of revenue generated by the government for the provision of infrastructural facilities. However, the revenue and expenditure gap (R

Osiegbu, Onuorah and Nnamdi (2010), the complains of the government in Nigeria is that the statutory allocation to the various tiers of government is not enough to carry out effective administration as well as finance capital projects. Kiabel and Nwokah (2009) reported that the increasing coast of running government organizations coupled with dwindling revenue has left various government organizations in Nigeria with formulating strategies to promote and improve the revenue base. Hence, one very important strategy that can be applied to increase the revenue base of both federal and state governments in Nigeria is the promotion of Tax Compliance and Revenue Generation through effective Tax Audi in Federal Inland Revenue Service (FIRS) for the citizens of Nigeria.

 

APPRAISAL OF PERSONAL SELLING AS AN EFFECTIVE TOOL FOR ACHIEVING DEEPER MARKET PENETRATION

 

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

According to Kotler and Keller (2006) personal selling is increasingly becoming a major promotional tool in contemporary business organization.  It is the most effective tool at later stages of the buying process, particularly in building up buyer preference, conviction and action. The role of personal selling continuer’s to increase in significance day-to-day.  Few product or services are sold without personal salesmanship.  Sale procured through catalogue, direct mails and other impersonal techniques are merely expectations to the general role.  Personal selling include the activities of both the inside sales person or retails, wholesales, and services establishments and the outside sales representative who call on business establishment and ultimate consumers.

Kotler (2004) avers that personal selling is the most effective tool at later stages of the buying process, particularly in building up buyer preference, conviction, and action.

Personal selling can be classified according to the sales job performed by the sales force Bello, (2005).

Account Representative: This sales person also known as a sales representative, calls on a large number of already established customers.  Selling is low-key, orders are taken, and there is little effort to develop new business.  The account representative is frequently used in goods, textiles, etc.

Missionary Salesperson:  The task of this salesperson is primarily to introduce products and to perform promotional activities rather than to solicit orders.  Among pharmaceutical manufacturers, the missionary salesperson are called ‘detail salesperson’, and their job is to call on doctors, distribute samples, and persuade them to write prescriptions that specify the brand being  pushed Bello, (2005).