THE IMPACT OF ACCOUNTING ON ORGANISATION EFFECTIVENESS

A CASE STUDY OF FEDERAL PAY OFFICE, ENUGU

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

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Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

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CHAPTER ONE

• BACKGROUND OF THE STUDY 1
• STATEMENT OF THE PROBLEM 4
• PURPOSE OF THE STUDY 5
• RESEARCH QUESTIONS 6
• HYPOTHESIS 7
• SCOPE OF THE STUDY 8
• SIGNIFICANCE OF STUDY` 8

CHAPTER TWO

• PRELUDE 10
• NATURE OF GOVERNMENT ACCOUNTING 12
• THE ROLE OF F.P.O. IN THE

ACCOUNTING SYSTEM                                      13

CHAPTER THREE

• DISCUSSION OF RESULT/FINDINGS 17
• RECOMMENDATION 22
• IMPLICATION OF THE RESEARCH FINDINGS23
• SUGGESTION FOR FURTHER RESEARCH 24

 

 

 

 

 

 

 

ABSTRACT

The need for keeping prompt and accurate record of transaction in the government services of the receipt and disbursement of public fund cannot be over-emphasized. This is why the officers of the Accountant –General of the federation in whose hands this duty falls, has over the years been engaged in the determination of procedure to achieve an optimum effectiveness of these recordings.

The management of public fund regimes an appropriate and comprehensive accounting system. This has necessitated the formulation of a number of control measure to ensure accountability and probity right from the budget proposal level to the actual implementation.

As government spending grows, there is the need to do more than our tailing spending within appropriate amount as it is entirely possible to expend money without reaping the reward for such scientific. Thus, the need to evaluate the benefits and manage the costs become more essential. This is the enrolment of accounting, and its efficiency and effectiveness manifests the impact on the governed.

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF STUDY

The management and control of the public fund is the heart of government administration. This calls for the need for an acceptable accounting system that will comprehensively prefer solution to the accounting needs of the government on public funds is governed by the financial (control and management). Act of 1958 A to E into section 154, dealing  with the operation of the consideration Amendment of 1957 which inserted sub –154 A to E into section 154, dealing operation of the constrained therein formed the based of the financial Act which were replicated with slight changes in the 1979 and 1989 constitution, Higher to , government accounting is regulated by section 129 –145 of the constitution, the laws enacted by government in power, the financial control and management Act 1958, by decree and acts enacted from time to time.

The management and control of the public fund is invested on the federal ministry of finance and this rests on the shoulders of the Treasury now referred to as the office of the Accountant General.

In the treasury its self, functions and duties are streamlined to a set of guide. This is because government accounting is based strictly on cash”.

The expenditure and receipts for the year are balanced and closed for the year and there is no transfer to the next period.

The financial regulation, treasury accounting manual, and regulation. That guide the treasury in  the management and control of the public find of the government whose objective is service.

This study is directed to a division of the treasury the federal pay office, Enugu. It will be concerned mainly with the duties and functions of the office, the effectiveness of the accounting as it relates to the goals of the

Government which is service. The study will also determines to what extent the principles, rules and regulation governing. The government accounting system is being utilized and its effect on the general public.

The federal pay office, Enugu which is the main focus of this work has the following as its main general duties:

1. receiving and payment of cash.
2. Keeping of cash book to record all the cash transaction.

• Operation of a bank account on which cheques are drawn.

1. Providing information on the cash position at a given date.

Effectiveness of these duties are enhanced through the establishment of internal check system in its operation to minimize fraud and loss of funds.

The federal pay officer is the head of this office. Going by the provision of financial regulation (ff) section 104 (II), the officer “ is entrusted with the receipts, custody and disbursement of public money and is required to keep one of the recognized cash books, the transaction in which are subsequence embodies in the accounts rendered by the accountant – general of the federation”.

The office is segmented into eight (8) sections top facilitate efficient and effective performance of duties as stated above.

 

• STATEMENT OF PROBLEM:

There has always been the call for proper accounting of the public fund. The treasury being the custodian of the public fund, has as its motor: accountability probity and transparency.

The federal; pay office, Enugu, being part of treasury is banqueted with the same number of problems that hinder the effective

APPLICATION OF AN ACCESSMENT OF EFFECTIVE INTERNAL CONTROL AND AUDIT IN PUBLIC SECTOR

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

CHAPTER ONE

1.0     INTRODUCTION

Auditing is an independent checking, investigation, examination and expression of the books of accounts and vouchers of a business enterprise with a view to enable the appointed auditor to report whether the trading, prodit and loss accounts and balance sheet are properly drawn up so as to show a true and fair view of the state of affairs and the profit or loss of the business according to the best information and explanation obtained by the auditor and that they comply with the laid down rules and regulations of the statement of standard acccounting product (SSAP) and other statutory regulations.

Internal control system: This can be described acording to auditing guideline (AG 204) as “the whole system of controls, financial and otherwise, established by the management in order to carry on the business enterprise in an orderly and efficient manner, ensure adherence of maangement policies, safeguard its assets and secure as this as possible the completeness and acccuracy of records” therefore this involves both internal check and audit.

Internal Check: This briefly refers to the method (techniques) of organizing and arraning the entire operation of office, factory and enhousing and the duties of respective staff so that risk of fraud, errors, irregularities and mismanagment will almost be impossible without conclusion. That is day-to-day transactions, segregation of duties and job performance in an organization.

Internal Audit: This is refers to an independent appraisal of activities within the organization of the check of certain operations as a service to the maangement, therefore, it is the maangement control to functions by the means of evaluating and measuring the  efficiency and effectiveness of other controls or checks. Meanwhile, the internal audit will ensure that some specific routine work are carrryout by the departments and that the laid down procedures  is adequately carry-out by all applicable areas as well as making recommendations to the management.

 

1.1     BACKGROUND OF THE STUDY

Auditing in its daily and primitive stage can in an existence since 16^th Century, start when the first relationship began between those who provided capital and those who managed the business.

Moreover, the innovation of joint stock companies has enormously widened the possiility of raising capital for industry. As a result of the limited liability of the shareholders, it become possible to offer shares for subcription to the public and thus, the availability of capital to both industry and commence. “Stewardship”

 

Meanwhile, under the company from of business enterprises, the shareholders as a person, delegate the management of the enterprise to the board of directors and practically, the board submits to the shareholders the account of the enterprise so that its members may see a trur and fair view of the financial position and the profit and loss undertaking. Thus, in 19^th century, the greatly arose  aneed by the shareholders as a body to appoint an auditor that will help in the presentation of statutory financial statement of the board of directors in order to show true and fair view of the financial position of the company.

 

However, in 20^th century, mandatory provision as requirement made for the audit to limited liability accounts and presentation of audit report to numbers by the company acts in Nigeria have company or companies and Allied Matters Act (CAMA) 1990.

 

1.2     STATEMENT OF THE PROBLEM

This study is basically concerned with discussing and appraising an assessment of effective internal audit and control in the public sector. And also how to answers some related questions like;

• How has the effective internal  audit and control affected the public sector over some years?

How Does the effective

the prospect of Accounting as a profession, implication to accounting student

COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

Click here to download our android mobile app to your phone  for more materials and others

TABLE OF CONTENT

Topics                                                                                          Pages

Chapter 1:    Introduction

• Background of the Problem
• Statement of the Problem
• Objectives of the Research
• Research Questions
• Statement of Hypothesis
• Scope of the study and Its Delimitation
• Organization of the Report

 

 

Chapter 2:    Literature Review

• Evolution of the Nigeria Capital Market.
• Major Participation’s in the Nigerian Capital Market
  • The Central Bank of Nigeria
  • Development Finance Institutions
  • Issuing Houses
  • Stockbroking firms
  • Securities and Exchange Commission
  • Stock Exchange
  • Share Registrars
  • Commercial Banks
  • Insurance companies and Pensims / Provident funds
• Dividend
  • Forms of Dividend
  • Factors influencing Dividend Policy
  • Stability of Dividend
  • Relationship between Dividend and Share prices
  • Information content of Dividends
  • Random Walk Theory of Share Price Movements
  • Random Walk and an Efficient Stock Market
  • Varying Degrees Efficiency
  • Week form Tests or Weak form of Efficiency
  • Semi-strong form Tests and semi-strong Efficiency
  • Strong form Tests and Strong Form Efficiency
  • Implications of Efficient Market Hypothesis
  • Empirical Studies of Capital Market Efficiency in Nigeria
  • Dividend Announcement and Capital Market Efficiency.

 

 

Chapter 3:    Research Methodology

• research Design
• Sources of Primary & Secondary Data
• Population & Sample
• Data Collection Techniques
• Data Analysis Technique
• Hypothesis Test Statistic
• Limitation of Research Methodology

 

 

Chapter 4:    Analysis and Presentation of Data.

• Presentation of Primary Data
• Analysis and Presentation of Data According to Research Questions
• Analysis and Presentation of Data According to hypothesis.

 

 

Chapter 5

• Summary of Findings
• Conclusion
• Recommendation
• Suggested Research Work

CHAPTER ONE

 

 

• INTRODUCTION

 

Many people think of accounting as a highly technical field which can be understood only by professional accountants.  Actually, nearly everyone practices accounting in one form or another on an almost daily basis

We live in an era of accountability.  Although, accounting has made sits most dramatic progress in the field of business, the accounting function is vital to every unit of our society.  An individual must account for his or her income,  and must supply personal accounting information in order to buy a car or home to qualify for a college scholarships to secure a credit card, or to obtain a bank loan.  Large corporations are accountable to their stockholders, to government agencies, and to the public.  The federal government, the states, the cities, the school district: all must use accounting as a basis for controlling their resources and measuring their accomplishments. Accounting is equally essential to the  successful operation of a business, a university, a polytechnic and a social program.

 

 

• DEFINITION OF ACCOUNTING:

Okechukwu (1999), defined accounting as, “the art of recording, classifying and summarizing, analyzing, interpreting and reporting on the financial transactions and position of an organization to interested persons or bodies.”  He gave this definition because whenever two or more persons comes together to form a union or an organization, the next thing is that money must be involved. Also, the accurate recording of the financial dealings of the companies, as well as the  correct reporting of the financial results of the union’s activities for a period to the members of that union, and to outsiders become of paramount importance.

Amachina and Ezeh (1996), defined accounting as, “a profession that co-ordinates the functions of financials accounting which is concerned with the recording, analyzing, summarizing and interpretation of business and other entities”.

Okafor (1996), defined accounting as “a systematic means of writing of economic history and plans of an organization in both quantitative and financial manner so that facts can be revealed, and properly analysing such fact for the purpose of advising management.

• OTHER AREAS OF ACCOUNTING INCLUDES

1. MANAGEMENT ACCOUNTING

Osuagwu (1998), defined management accounting as, “ the application of accounting knowledge, technique and skills to the provision of information designed to assist all levels of management in planning and controlling the activities of a business enterprise.”

Moreover, the chartered institute of management accountant (CIMA) defines management accounting as, “ an integral part of management concerned with identifying, presenting, and  interpreting information used for formulating strategy, planning and controlling activities, decisions taking optimizing the use of resources, disclosure to shareholders and other external to the entity, disclosure to employees and safeguarding assets.

 

1. COST ACCOUNTING:

Onovo et al (2002), defined cost accounting and costing principles, methods and techniques in the ascertainment of costs and the analysis of savings and excesses as compared with previous experience with standards.

Nze (1998), defined cost accounting as, “The accounting of the cost of production of goods or services or both of them”.

The institute of cost and management accountants defines costing as “a management information system which analysis parts, present, and indeed, future data to fit the variety of different problems confronting managers. In order to carryout their responsibilities for planning and controlling the resources of a business, managers must be properly informed’.

 

1. PUBLIC SECTOR ACCOPUNTING:

Ani  (2001), defined public sector accounting as, “the composite activity of collecting, analysing, recording, summarizing, reporting and interpreting the financial – transactions of government units.

The various government units includes:

1. The federal government (it ministries, departments and agencies).
2. The state governments represented by it ministries and department.

• The local governments

1. The government parastatals partly or completely financial by the government.

Some of the nature of government entities are:

1. They are established by the citizenry through the constitutional and charter process
2. They do not seek for profit from the activities in which they are engage
3. They depends on the legislative authorities
4. They owe responsibility to the citizens

From the various definitions of accounting mentioned above, we can see obviously that whether the accounting is concerned with financial accounting or management accounting or cost accounting, that all of them is geared towards provision of vital information that will aid the management in attainment of the objective f the organization.

Moreover, accounting aids to check fraud and make corrections ins the records of transactions kept by an organization through the services rendered by professional accountants.  In the case of private sector, the auditors checks the accounts and records of the company, in order to ensure that to the accounts are prepared in accordance of the laid down rules ins the companies and allied matters error in the financial statement of the company, where there is an error or fraud in the financial statement, the auditor is supposed to specify it in its’ report, finally, he will express his opinion on whether the financial statement of the company shows a true and faire view of the financial state of that company at the given date.

While  in the public sector, in sector 85 subsection (2) of the 1999 constitution of the Federal republic of Nigeria, the auditor-General is author

 

AN EVALUATION OF THE ROLE OF INTERNAL AUDITORS IN A CONSTRUCTION COMPANY

[A CASE STUDY OF NALADO CONSTRUCTION COMPANY LIMITED, KADUNA]

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

Note:  We accept bank transfer, ATM cash transfer , Online payment using your ATM , Western union bank transfer.  We will respond to you anytime of the day. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

 

 

CHAPTER ONE

1. INTRODUCTION

Internal Audit Units are established in organizations in order to assist members of the Organization in the effective discharge of their responsibilities, monitor the use of resources and make recommendations for the improvement of the organizational operations.

The day-to-day operation of an organization is delegated to the management by the Board of Directors. The head of the management often referred to as the Managing Director and Chief Executive Officer serve as a link between the Board of Directors and the management.

An internal auditor is employed as an agent of the management for ensuring effective working of Internal Control System. Independence of auditor is a cornerstone for the quality of his performance.

However, it is practically difficult for an internal auditor to possess any reasonable degree of independence in mind and attitude because of the management influence and scope of the work. It needs to be emphasized that internal audit function as an integral part of the internal control system is concomitant to good corporate governance.

The purpose of internal audit in big companies is to ensure that the account on which the auditor is reporting disclose a true and fair view of the transaction summarized within the period under examination. To ensure completeness and effectiveness in big companies, auditing is very important, the major work covered in the exercising of auditing include examination of internal control, the system of bookkeeping and account, to ensure whether they are appropriate for the nature of the business or activities being carried out by the client and whether all the transactions have been properly recorded under the system. The existence of any internal audit units in big companies is a sign of good control system. If properly conducted, internal audit units can have a great impact on the effectiveness and efficiency of big companies.

Adeniji (2004) suggest that internal audit as an independent appraisal activity established within an organization as a service to it. It is a control, which functions by examining and evaluating the adequacy and effectiveness of other controls.

Adams (2002), opined that internal auditing is an independent appraisal actively for the review of operations as a service to the management. Internal auditor here is one who is employed by the management of an enterprise who may or may not attain minimum academic or professional qualification, that is he may not be a member of any recognized body e.g. ICAN, ANAN.

It is in the view of the above that this study would be conducted to find out the role played by an internal auditor in big companies through proper installation of effective Internal Control System in big companies. Internal control system is examined by internal auditor in order for him to know if the control system is effective. He does this by carrying out compliance test. Internal check is done in order to prevent and detect errors and fraud. It involves the arrangement of bookkeeping and other clerical duties.

Internal Audit is a review of the operations, procedures and records of the business. Internal Auditing is itself an Internal Control which operates by appraising and reporting on the effectiveness of the other controls. Thus, its main objective is to assist management in discharging its responsibilities and to evaluate compliance with corporate procedures. It is often assigned for reviewing the accounting system and related Internal Controls, monitoring their operation and recommending improvement thereto, and also the examination of financial and operating information.

Aquaisua (2004) opines internal audit as the process of continuous review of financial transactions in order to ensure that they are working as the management intends. All the regulations, instructions, accounting system or procedures and rules set should be controlled to ensure that they are working as prescribed. It assures management of the adequacy and appropriateness of the system of internal controls by testing their operations. Usually, Government, financial instructions provide that the Accounting Officers of Ministries or Departments or (non-ministerial) departments will ensure that, subject to the availability of staff, an internal audit unit be established to provide a complete and continuous audit of accounts of revenue, expenditure, plant, allocated stores and un-allocated stores where applicable.

Omoya (1984) suggests that the duty of the internal auditor, who should be responsible to accounting officer will be to audit account and records and for the examination of the systems and procedures in force. His report should be submitted to the Accounting officer copying the Auditor-general of his state. He should have an audit programme which should be submitted to the Accounting Officer and for the acceptance of the Accountant General and Auditor General. Such programmes should ensure that the programme of audit will extend to cover all the records of the ministry, department or unit, in order to satisfy himself that:

1. The safeguards introduced for the prevention of the prompt detection of fraud and loss of cash or stores or plants are adequate. Normal safeguards include the observance of government and departmental regulators and instructors and for existence of internal checks.

The system for the control of the collection of revenue is adequate and

AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA

(A CASE STUDY OF NSE KADUNA BRANCH)

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COMPLETE PROJECT  MATERIAL COST 5000 NAIRA OR $10 , 

. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS  FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED.  DESIGN AND WRITING IS OUR SKILLED.

Note: our case study can be change to suit your desire location . we are here for your success.

                                   ORDER NOW

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 2 HOURS

How to transfer from your bank account to All  Nigeria banks without internet

1. Access Bank:
—-*901#

2. EcoBank:
—-*326#

3. Fidelity Bank:
—-*770#

4. FCMB:
—-*389*214#

5. First Bank
—-*894#

6. GTB:
—-*737#

7. Heritage Bank:
—-*322*030#

8. Keystone Bank:
—-*322*082#

9. Sky Bank:
—-*389*076*1#

10. Stanbic IBTC:
—-*909#

11. Sterling Bank:
—-*822#

12. UBA:
—-*389*033*1#

13. Unity Bank:
—-*322*215#

14. Zenith Bank:
—-*966#

15. Diamond Bank
—-*710*555#

To know your BVN, dial
—-*565*0#.

E.g for First bank…   *894 *Amount *Acct. No. #

Please dail d code from d number u used to register d account from the bank

CALL OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

 

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY

A buoyant and dynamic economy is the one built upon a sound financial system. Such finical system should be stimulated and maintained by the effective activities of an efficient capital market, which is the head of the “Stock Exchange”.

The stock exchange therefore is the market where companies, raise capital on a short term and long term basis. This role of mobilization and allocation of funds to every sector of the economy which made it (Stock Exchange), the toast of investors has given it a pride of plan in every economy. There is no doubt, that the success or failure of every sector in the economy rests to every large extent on its stock exchange market. This is because for any sector in the economy to grow an efficient means of capital formation must not be ignored considering the importance of capital in any organization setting.

Since the establishment of the Nigerian stock exchange (NSE) some forty two years back (42) elements of stagnation, dormancy and unproductiveness in the economy is being experienced despite the tremendous development in the exchange systems. This situation has taken a worrisome dimension in which many questions are being raised on the relevance of the Nigerian stock exchange in facilitating investments in the Nigerian economy.

 

1.1     AN OVERVIEW OF THE BACKGROUND OF THE STUDY

There was no organized financial market or institution in Nigeria prior to the establishment of the central bank of Nigeria (CBN) by the Act of parliament in 1958. Consequently, surplus funds of the financial system were invested abroad there by starving the economy of the mush – needed capital for general development. But immediately the central bank of Nigeria came into existence, the banks started pioneering the development of Nigerian financial market comprising the money market for short-term funds.

The development of the Nigerian money market for short term funds started in 1960 with the issue of the first Central Bank of Nigeria Treasury Bills. Subsequently, other short-term debt instruments such as Treasury certificates, commercial Bills, certificate of Deposits e.t.c were introduced by Central Bank to increase the volume and depth of the money market.

 

The first attempt of developing the Nigeria capital market can be traced to the year 1959, when the Central Bank of Nigeria floated the First Nigerian Development loan stock on behalf of the Federal Government of Nigeria. The capital market was divided into two (2) categories. The primary market which deals in new issues and the secondary market which deals in old securities, all in the stock exchange. In Nigeria, capital market is regarded as the stock exchange because of the integral part it plays in the stock exchange market. It is involved in many financial activities around which all othe