Get the complete project »
- The Complete Research Material is averagely 71 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
1.1. Background of the Study
Internal audit is a management tool used in ensuring transparency in conduct of business. Auditing took the entire stage after the industrial revolution since before this period, transactions increased, precipitated by the development of large corporations, limited liability companies, there became the need for divorce of ownership from control. Hence mangers and shareholders became two different partners. Then it became apparent for mangers to render accounts of their stewardship to those who has pooled their resources together for the business .it is noteworthy that an independent person be appointed to represent the interest of the shareholders in reviewing the report of mangers to ensure accuracy and transparency. This is how auditing started.
We have two types of sectors. Public and Private sectors. Public sector is the governments initiate and control in economic activities with the aim of rendering services at a breakeven point.
The private sector is the private initiative aimed at profit/wealth maximization for the owners Mill champ (1996) defines internal audit
as an independent appraisal function within an organization for the review of system of control and the quality of review of systems of control and the quality of performance as a service to the organization.
The papers seek to empirical and statistically ascertain the impact of the internal audit in the private sector of the Nigerian economy, while the private sector of the economy is studied at large; the case study MB ANAMCO Ltd, Emene, Enugu is particularized.
1.2. Statement of the Problem
The private sector according to Anyanwu (1993; 25) is that part of the economy not under direct government control. It entails production and distribution that is in private hands. It serves as a complement to the public sector since increased public sector efficiency results from improvements and places government in a better position to focus on the objectives, conduct and performance of those enterprises that remain in the public sector (Hamming and Mansoor 1987).
Despite this enormous role, the sector has been beclouded with problems such as:
(i) Financial impropriety
(ii) Lack of auditing control
(iii) Lack of independence of the internal control
(iv) Incomplete recording of business transactions
(v) Over blow expenses to reckless spending
(vi) Non compliance and adherence to accounting standard and guide lines.
(vii) Mismanagement of scarce funds
1.3 Statement of Objectives
The broad objective of the study is:
1. To determine if internal audit ascertain the correctness of financial records.
2. To determine the extent to which internal audit helps in enforcing compliance to rules and regulations regulating private sector accounting and auditing.
3. To find out if internal audit inspect and verifies organizational assets and liabilities.
4. To know the factors hammering pa ring audit procedures in the private sector
1.4 Research Hypothesis
To address the above mentioned problems the following hypothesis are formulated.
(i) Ho: internal audit has not significantly affected Private sector performance.
(ii) Ho: There is no relationship between achieving corporate objective and efficient internal auditing in the private sector.
(iii) Ho: Inefficient internal audit and internal control has hampered audit reports.
1.5. Significance of the Study
(I) The study will be of immense benefit to the shareholders who have contributed the funds for the business and needs a reward
in form of dividends.
ii) This can be achieved if ineffectiveness and corrupt practices such as fraud, loss of revenue, sharp practices, and lack of transparency etc .associated with the private sector are minimized or even eradicated.
iii) Since a virile private sector is noted for the economy will be of great benefit from the findings of the study
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
1. THE IMPACT OF FINANCIAL ACCOUNTING REPORT ON THE CORPORATE PERFORMANCE (A CASE STUDY OF NIGERIA BREWERIES PLC)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The impact of financial accounting reports on the corporate performance is becoming more apparent...Continue Reading »
2. MANAGEMENT OF BAD DEBT IN MICROFINANCE BANKS IN NIGERIA. (6 SELECTED MICRO FINANCE BANKS IN ANAMBRA)» CHAPTER ONE INTRODUCTION BACKGROUND OF STUDY An attempt will be made in this introductory chapter to give a general outline of bad debts in micro fina...Continue Reading »
» ABSTRACT The challenges of measuring marketing strategy in relation to productivity has been inadequately address by previous researches and marketing...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1Background of the study Most countries at all levels of development, small and medium scale enterprises (Small medium ente...Continue Reading »
5. ACCOUNTING INFORMATION SYSTEM AS A MEANS OF ENHANCING FINANCIAL MANAGEMENT OF TRANSPORT COMPANY (A Case Study Of The Nigerian Railway Corporation Enug...» ABSTRACT Accounting information system in a transport organization has been a great problem to the third world countries in general, which Nigeria as ...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Over the years the budgeting system has been a traditional way of managing and controlling compan...Continue Reading »
7. THE IMPLEMENTATION OF STANDARD COSTING AND VARIANCE ANALYSIS IN NIGERIA MANUFACTURING FIRMS (A CASE STUDY OF FIG BREWERY LIMITED, UMUNEDE)» CHAPTER ONE INTRODUCTION 1.1 Background of the Study Cost accounting in a specials branch of accounting that serve in both external and internal. In e...Continue Reading »
8. IMPORTANCE OF FINANCIAL ACCOUNTING LITERACY ON THE GROWTH DEVELOPMENT SURVIVAL, PRODUCTION AND PERFORMANCE» CHAPTER ONE 1.0 INTRODUCTION 1.1 Background of the Problem Micro and small enterprises (MSE’s) are facilitators for broad based growth in compet...Continue Reading »
9. SOURCES AND STRATEGIES FOR IMPROVEMENT OF LOCAL GOVERNMENT REVENUE IN ABIA STATE (A CASE OF OHAFIA LOCAL GOVERNMENT AREA),» CHAPTER ONE INTRODUCTION 1.1 Background of the study Internally Generated Revenue (IGR) is revenues generated internally apart from subventions, alloc...Continue Reading »
10. PUBLIC POLICY IMPLEMENTATION IN NIGERIA AND ECONOMIC DEVELOPMENT (A STUDY OF THE NATIONAL POLICY ON POPULATION 1999-2007)» ABSTRACT A study of Public Policy under Olusegun Obasanjo Administration, A study of National policy on population for sustainable south Eastern Niger...Continue Reading »