THE NEED FOR EFFECTIVE AUDITING IN THE PUBLIC SECTOR

THE NEED FOR EFFECTIVE AUDITING IN THE PUBLIC SECTOR (A STUDY OF ENUGU-NORTH LOCAL GOVERNMENT COUNCIL

ABSTRACT

This study “The Need for Effective Auditing in the Public Sector which Enugu-North local government is used as the case study is designed to ascertain the importance of efficient auditing in local government system an that represents the public sector what auditing is all about and the areas of auditing. It will also review the works of other experts like professional journals textbook etc. structured questionnaires will be sued to collect relevant data with the population of 20 audit workers using Taro Yamani’s formula, a sample size of 19 workers were arrived at the finding of this study will be concluded with some recommendation that will help eliminate improper auditing which only can result to poor management and poor financial statement.

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

Auditing refers to the independent examination of financial statement of the organization by an auditor with a view to expressing an opinion as to whether these statements give a true and fair view and comply with relevant status.

It is one basic and necessary condition for achieving corporate objectives in both public and private sector. In public sector like local government council and effective auditing is often reflected in the existence of quality audit staff, method of audit and evaluation of internal control system for proper accountability.

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The need for effective auditing in the public sector cannot be over emphasized as it ensure proper and effective use of public funds, the development of sound financial management, the orderly execution of administrative activities, ad the communication of information to the public authorities and the public through the publication of objective reports.

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In this research, I will examine the meaning of auditing and the importance of effective auditing in the local government system (ENUGU NORTH LOCAL GOVERNMENT COUNCIL as the case study)

STATEMENT OF PROBLEMS

The issue of how to increase efficiency and positive result in audit work in the public sector is a problem. Auditors are faced with a lot of challenges which have adversely affected the progress and resources of the local government council for instance lack of training on modern techniques of auditing which is more effective and result positively than the traditional method of “tick and turn over”, intimidation by the management, lack of innovation, recruitment of unqualified staffs, lack of adequate internal control and in` correctness and unreliability of document etc.

OBJECTIVE OF THE STUDY

This research work was undertaken to study the need for effective auditing in the public sector which the case study is ENUGU NORTH LOCAL GOVERNMENT COUNCIL. It also went further to stress on the reasons for deficiencies and inefficiency in the public sector.

Suggestions and recommendations that are believed will be of good use to the local government councils will be given in this research study.

RESEARCH HYPOTHESIS

In the course of the study, the following hypothesis are used

  1. Hi: effective auditing is an efficient tool for improving public sector performance

H0: effective auditing is not an efficient tool for improving public sector performance.

  1. Hi: quality audit staff count on the maintenance of efficiency in auditing in the public sector.

H0: quality audit staff does not count on the maintenance of efficiency in auditory in public sector.

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SIGNIFICANCE OF THE STUDY

For the fact that effective auditing is the life of any establishment, this study is very importance to the government because it will highlight the need for effective auditing and its recommendation will help in correcting Somme inefficiency in the public sector auditing (ENUGU –NORTH LOCAL GOVERNMENT COUNCIL as the case study)

SCOPE OF THE STUDY

This study is supposed to have been extended to many local government councils but because of some constraints, it is limited to ENUGU-NORTH LOCAL GOVERNMENT COUNCIL OF ENUGU STATE

DEFINITION OF TERMS

  1. Auditing: it is the independent examination of the financial statement of an organization with a view to expressing an opinion as to whether these statements give a true and fair view and comply with relevant status.
  2. Audit: this is simply the act of auditing
  3. Auditor: this is a person who audits an account
  4. Efficiency: it is an ability to perform duties well and produce a desired or satisfactory result
  5. Accountability: it is being accountable to financial transaction
  6. Internal control system: this means all the policies and procedures adopted by the management of an entity to assist in achieving management objective of ensuring, as far as practicable the orderly and efficient conduct of it’s business, including adherence to management policies, the safeguarding of assets, the prevention and detection of fraud and error the accuracy and completeness of the accounting record and truly preparation of reliable financial information.

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Project topic: THE NEED FOR EFFECTIVE AUDITING IN THE PUBLIC SECTOR (A STUDY OF ENUGU-NORTH LOCAL GOVERNMENT COUNCIL

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