Home » Accounting » THE IMPACT OF EXTERNAL AUDITING ON THE PERFORMANCE OF LOCAL GOVERNMENT COUNCIL I...
THE IMPACT OF EXTERNAL AUDITING ON THE PERFORMANCE OF LOCAL GOVERNMENT COUNCIL IN NIGERIA
Sold By: Joe Project Store | Item Type: Project Material | Report this? | Attributes: 50 pages | 1-5 chapters | Amount: ₦5,000 | 1 order. | Marked useful: 5,983 times
INSTANT PROJECT MATERIAL DOWNLOADABSTRACT
Local Governments in Nigeria have been featured with gross financial mismanagement to the extent that the government had decides to institute periodical restricting and reform programmers. In the existence of integrity, effectiveness and efficiency in utilization of resources, the council can easily obtain unqualified audit opinion from CAG. Failure to obtain unqualified audit reports may take the council into access to LGCDG and therefore gives a negative impact to the authority it terms of service provision.It was that reason therefore, that prompted to carry about a study to assess whether local authorities effectively implement financial management systems by conducting a study at uyo Municipal Council.The research methods employed were:-questionnaires observation and interviews.The researcher employed simple selection techniques.A sample of 45 respondents was selected from a total population of units of inquiry.The study findings revealed that; still there some weakness in terms of enforcing procedures and principles guiding the authorization and access of organization’s assets and documents Also the study found an increasing rate of improperly vouched expenditure year after year and improper approvals,improperdocumentation and attachment.The study also found existence of over expenditure on some common items like fuels and allowances,caused by insistence of a reliable computerized system for budgeting and accounting activities.On the part of the functioning of the external audit unit,the findings revealed a weakness on reporting channel.The study finally found that, the financial management systems in local government Authorities are slightlyeffective,so for improvement, the study recommends:the immediate computerization of the accounting and budgeting systems,thatperformance.Finally; the council internal auditor should report direct to councilorsand to ministry responsible.The researcher really hopes that the output of this research study shall be of practical use to other individualscholars,Institutions of higher learning and Local Government Authorities of Nigeria.
CHAPTER ONE
BACKGROUND OF THE STUDY
INTRODUCTION
This chapter presents the research findings on the role of external Audit in improving LocalGovernment Authority. Though thereare several aspects of management control systems in organizations, the researcher focused only on the financial aspect. The study therefore, explored the status of local government authorities (LGAs) external audit roles in achieving the council’s predetermined goals and objectives. The study was conducted in uyo Municipal Council (UMC) in the period of December 2011 to June 2012. The chapter also deals with giving the background of the Local Government Council (LGAs), background of the problem, statement of the problem, objective s of the study, research questions, significance of the study, scope, limitation of the study that the researcher will face and delimitation which in turn will help in investigating this topic of the study coming to the good conclusion and recommendations. From this subject a number of areas will be covered in detail, which includes the theory behind audits and other control bodies which promotes public sector accountability through good corporate governance, effective risk management and transparency in government operations in fulfilling the pre-set objectives.
Tags: Impact of external auditing Performance of local government council in Nigeria External auditing Importance of external auditing Impact of performance
This material content is developed to serve as a GUIDE for students to conduct academic research
DOWNLOAD THIS PROJECT MATERIAL NOW!
Advertise Here
Not what you were looking for? Perform a search
What's your project topic?
Comment on Facebook:
Related Project Materials
- 1.
INVESTIGATING FORENSIC AUDIT AS A PANACEA FOR PREVENTING CORPORATE FRAUD IN CAMEROON'S PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The proliferation of financial crimes in these developing economies is concerning and catastrophi...More »
Item Type: Project Material | 54 pages | 389 engagements |
- 2.
INTERNAL AUDIT: EXAMINING ITS ROLE IN ENSURING ETHICAL CONDUCT IN CHENWI-ASSOCIATES, CAMEROON
INTERNAL AUDIT: EXAMINING ITS ROLE IN ENSURING ETHICAL CONDUCT IN CHENWI ASSOCIATES, CAMEROON CHAPTER ONE INTRODUCTION Background of the Study Auditin...More »
Item Type: Project Material | 54 pages | 327 engagements |
- 3.
EXTERNAL AUDIT AND QUALITY OF ACCOUNTING AND FINANCIAL INFORMATION IN THE CAMEROONIAN PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The main purpose of external audit as a governance mechanism is to enhance the accuracy and trust...More »
Item Type: Project Material | 54 pages | 349 engagements |
- 4.
EXAMINING THE ROLE OF FORENSIC AUDIT IN DETECTING FINANCIAL FRAUDS IN THE CAMEROONIAN PUBLIC SECTOR:...
CHAPTER ONE INTRODUCTION 1.1 Background of the study Forensic auditing and forensic accounting are often used interchangeably. It has been officially ...More »
Item Type: Project Material | 54 pages | 342 engagements |
- 5.
EXAMINING THE IMPACT OF THE AUDIT REPORT ON INVESTMENT IN FINANCIAL INSTITUTIONS IN CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study According to the Companies Act, all registered companies must present audited accounts to their s...More »
Item Type: Project Material | 54 pages | 345 engagements |
- 6.
EXAMINATION OF CHALLENGES ENCOUNTERED BY INTERNAL AUDITORS IN PUBLIC SECTOR AUDIT OF CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study The demand for internal auditing mostly arises from the necessity for an independent verification...More »
Item Type: Project Material | 54 pages | 376 engagements |