THE SIGNIFICANCE OF AUDITING IN THE PUBLIC SECTOR

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

 

ABSTRACT

Today in the public sectors, staffs have decided in involving themselves in fraud, misappropriation of fund mismanagement of assets entrusted on them, and abuse of their profiles for their different personal interests.

But, auditing has become a tool for ensuring good accountability. Through auditing, the account of individuals, partnership, co-operative and public sectors can at any time be examined by an auditor which enables him to express his opinion of true and fair view, by the use of auditing standards.

However, it is through this auditing, that those errors, frauds and other accounting mal-practices or irregularities can be easily traced out and be corrected. Through this auditing, spin off effect can easily be provided. Though all the secondary objective of auditing.

In conclusion, auditing has become an indispensable instrument through which the funds and assets entrusted in the hands of directors in public sector could be examined and make sure that those whom properties are entrusted were tested and reliable staff.

Moreover, this work is arranged in such a way that one chapter flows and naturally leads to next. It organized in three chapters

Chapter one: includes, introduction, objective of the study, significance of the study, scope of the study, auditing standard, destinations between auditing and accounting function and definition of terms.

Chapter two: what is auditing, who is our auditor types and objectives of auditing qualities of an auditor fraud in the public sector, internal control and internal check.

Chapter three: findings, conclusion, Recommendation Suggestion for further studies, bibliography.

 

 

 

 

TABLE OF CONTENT

CHAPTER ONE

1.1    Introductions                                                          1

1.2    Objective of the study                                             8

1.3    Significance of the study                                          9

1.4    Scope of the study                                                  10

1.5    Auditing standards                                                  11

1.6    Distinction between Auditing and Accounting Job      11

1.7    Definition of terms                                                  12

 

 

CHAPTER TWO

2.1    What is auditing?                                                    15

2.2    Who is our Auditor?                                                17

2.3    Types and objectives of Auditing                              18

2.4    Qualities of an auditor                                             20

2.5    Fraud in the public sector                                        22

2.6    Internal control, internal check and internal audit      24

2.7    Classes of audit                                                       26

CHAPTER THREE

• Findings 28
• Conclusion 30
• Recommendation 31
• Suggestion for Further studies 33
• Bibliography 34

 

 

CHAPTER ONE

INTRODUCTION

Currently, taking a glance look into our public sector establishments, one can easily notice that all their activities revolved round the pivot of the auditing principles. Just as the auditors carry out their work on the state of affairs of the financial statement in order to enable him express his opinion of true and fair view of the accounts they purports to represent. Most of public sector establishment are engaging in audit work internally without knowing. Take for instance where the work of one personnel is being complemented by another personnel inured to ensure effective check for prevention of misappropriation and other irregularities on the assets entrusted on them, which refers as internal check on audit terminology.

In a nutshell, auditing can be seen as a through investigation and examination of an opinion on financial statement that hand prepared by an accountant thus, auditing work starts where accounting work stopped. In the view of audit operational standard audit is defined as the independent examination of financial statement and expression of opinion on the financial statement and expression of opinion on the financial statement of any enterprise in assurance of that appointment are in compliance with any relevant statutory. From the above definition, it can be seen that auditor has to deal with pure independent. This term of impendent of an auditor, enables him to carry out his audit work without any conflict of interest, fear and favors or any interference by the management.

At this juncture, it is necessary to know that auditing work has to be done by an auditor, who is a qualified accentuates having sat and passed the professional examination which is only the bring of institute of chartered accountant that is empowered by (CAMA) Company Allied Matters act to conduct such exams. In addition, such person must be of good character, conduct and must have a verse knowledge which helps him in easily understanding the practical business and be in position for easily ascertainment of the suitable procedure and methods of any concern he undertakes to audit.

Before the commencement of an audit work the dent must state the nature of the audit work. Precisely, the auditor on his side will write an engagement letter thereafter to the management to define the work which the management expects him to do. On no account should and auditor go beyond or allow to go beyond the scope specifically stated in the letter of engagement.

On appointment of an auditor, the remuneration will be fixed and it includes all the cost of materials and any wages. Ethical law and company allied matters act of 1990 (CAMA) states it specifically that auditors should not received gift inform of lairs, allowance grants from client immediately remuneration in fixed.

In t

A COMPARATIVE ANALYSIS BETWEEN PUBLIC AND PRIVATE SECTORS

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

 

ABSTRACT

 

Internal control is an important tool by which management aims to achieve its object, of ensuring as far as practical  the orderly and to efficient conduct of the business of the enterprise it is an indispensable aid to efficient management particularly in large scale organization where it is impossible for management to be physically present to all sense of action.

The research project is control in the private sector in order to find out whether move is a difference between the two and also to find out reason for these of suggesting ways of improving internal control in the public sector.

In order to  achieve the objectives of this research four organization are used two from the public sector (Enugu state Institute) ie (PROUDA) and also two from the private sector (Eastern shop Nigeria limited Enugu all in Enugu State, were made use of properly  validate research and oral interview were used in a means of data collection for the purpose of the study.

 

TABLE OF CONTENT

CHAPTER ONE

• Introduction

1.1     Purpose of the study

• Significance of the study
• Scope of the study
• Limitation of the study
• Definition of terms

 

 

CHAPTER TWO

• Definition of internal control

2.2     Functions

2.3     Relevance of study

 

CHAPTER THREE

• Summary of finding, Conclusion Recommendation

3.1     Summary

• Finding
• Conclusion
• Recommendation

Bibliography

CHAPTER ONE

• INTERODUCTION

1.1     INTERNAL CONTROL

This is the system by which management  maintains control over the purchase  reserving storing and selling of merchandise strong internal control we needed not only for purchases and sales transactions, but for all other types of transaction as well. In fact the concept of internal control  we needed not only for purchases and sales transactions, but for all other types of transaction as well. In fact the concept of internal control affects all assets and liabilities the revenue control is to provide assurance that the entire business operates in according with management’s plan and policies.

A system of control within the organization included all measure taken by an organization for the purpose of the following.

1. Protecting its resources against western fraud inefficiency.
2. Ensuring accuracy and reliability in accounting and operatry data.
3. Security compliancy with company policies
4. Evaluating the level of performance in all division of the company.

Many people wants of internal control as only a means of safeguarding cash and preventing fraud. Although internal control is an important factor in protecting assets and liabilities and preventing fraud. This is only a port of it role. A primary objective of me system of internal control is to ensure my reliability of the accounting and operating data used in decisions –making.

The public sector or social corporations the moves corporation in which Government investment are made and which provide basic amenities that cannot be price and even if they are prices are usually provided free or almost free to my people because may are politically expedient. The public sector also includes companies an organization in which the government has a computer control or at leas 81% of the equity.

The comparative as used in the contextual this study is aimed at evaluating the equity of internal control in the public  sector and the quality of the internal control in the private sector.

 

1.1     PURPOSE OF THE STUDY

          An agency’s management is required to include an assurance statement on the internal controls over financial reporting in the annual performance and accountability report as described  in section Vi reporting on internal control. This statement is management assessment of the effectiveness of the agency’s internal control over financial reporting as of June 30 of the fiscal year (see exhibit 2), this assurance statement is required to include the following.

A statement of management’s responsibility for establishing and

THE ROLE OF PUBLIC ACCOUNTS IN THE FORMATION, ACQUISTION AND LIQUIDATION OF A COMPANY

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

ABSTRACT

          The public accountant the business and economy are inseparable

They are needed for various business decision and advice on better investments.

On formation of accompany the public accountant is needed to prepare the memorandum of association and ensure that the company and allied matte Decree 1990 is strictly adhered to.

More so, on acquisition of a company, the public accountant plays an indispensable role in order to ensure that only profitable business are acquired by prospective buyers. He does this by looking into the financial records of the company and making sure that no fraud debt is hided by the seller of the company

In liquidation of a company the public also has a hand in it. In a situation where he fails to discover a fraud or financial misappropriation by the management of the company. The company as a result of that may go into liquidation.

The problem of inscerity, instability in the economy and inflation rate in the country is among the problem encountered by the public accountant in Nigeria

 

 

CHAPTER ONE

• INTRODUCTION
  • BACKGROUND OF THE STUDY
  • STATEMENT OF PROBLEMS
  • OBJECTIVE OF THE STUDY
  • SIGNIFICANT OF THE STUDY
  • SCOPE AND LIMITATION OF THE STUDY
  • DEFINITION OF TERMS

CHAPTER TWO

 

2.0          REVIEW OF RELATED LITERATURE

• DEFINITION OF ACCOUNTANCY
• MEANING OF PUBLIC ACCOUNTANT
• ROLE OF PUBLIC ACCOUNTANT IN THE FORMATION OF COMPANIES
• MEANING OF FORMATION ACQUISITION AND LIQUIDATION OF COMPANIES

CHAPER THREE

3.0     SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION

• FINDINGS
• CONCLUSION
• RECOMMENDATION

BIBLIOGRAPHY

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

All over the world the accountant is expected to assume a leading role in the economic, especially in the field of company formation, substance and development. The question of expertise should be seen as the most critical role of the accountant here, for available evidence tends to relegate the popular nation of capital inadequacy in developing counties including Nigeria, as a major constraint to corporate formation and growth. These development functions of the financial experts are of then more important than the provision of capital.

The accountants by virtue of their training and professions are best positioned in providing corporate advice to investor and land managers in the formation and development of their businesses and avoiding corporate failure.

However, it is only a matter or regret to obsedrve that to many peoiple, professionals, investors and businessman, the professional role of public accountant revolves around the narrow framework of working from the source document to the balance sheet and auditing the financial statements of client companies. These misconception is largely attributable to the fact that every practicing auditor in the first place must be an accountant.

More so, the preoccupation of public accounts in the fields of auditing, income taxes income, income measurement and bookkeeping the traditional roles of the accountant, while relegating to the background other essential services which they can provide basically from the backdrop of the erroneous image painted on accountants by the public.

Auditors themselves are not helping the matter most of the writers have continued to emphasis traditional roles of the accountants with little or no attention paid to these other vital support which the account cant provide to investors and businessmen for the development and growth of their businesses. Frank A. ATWOOD observed that originally, the work of public accountant (professional accountant) was confined to the checking of the arithmetic accuracy of the trial balance and preparation of account, but nowadays a large part of auditing.

Consequently, the manager, the investor, the businessmen and the general public have failed to understand clearly the services the accountant produce in developing their businesses. Even accountant themselves have continued to wonder where the focus should be placed now, with changing role exception and complexity of modern economy.. the new dispensation of increasing application of traditionally the reserves of the account, bookkeeping and audit has further highlightened the anxiety as the continued relevance of the industrial accountant. This is why it has become most completing now to re-examine and redefine the  role of the accountant in keeping pace with the ever changing features and expectation of the modern economy.

The project is thus a search, it probes further towards identifying the numerous functions which the public accountant should emphasis, beside his traditional role of book keeping, income measurement reporting and audit, especially in matters relating to company formation and growth.

 

1.2     STATEMENT OF PROBLEMS

          Nigeria is witnessing a major economic down turn. Although this may appear as a responsiveness to the global economic recession, Nigeria case seem to be distinct. This even our economic bureaucrats seems to have lost their bearing in this search path for recovery.

This chapter is thus devoted to unrevealing the root of the problem of Nigeria accountant and proffering where necessary.

Instability in the economy is a major constraint to the Nigeria accountant quest to proffering solutions to the myriad of problems existing in economy. Obviously the hyper-inflation ravaging the economy pose server limitation on the power of the Nigeria accountant over avoiding cost over runs and in ensuring timeless of information for decision making. The position of the management account as a mere provider of information to management for decision without active part in the implementation process often lead to his recommendation.

BANK LENDING POLICIES AND RECOVERY PROCEDURE IN NIGERIA

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

ABSTRACT

This term paper was tailored at designing bank lending policies and recovery procedures in Nigeria. The piece of work looked into bank services and the rules that guide their monetary policies.

Research was carried out on ways of improving bank lending policies and good measures on how money could be recovered. Recommendation for the future improvement ion this policies was described.

I vividly described procedures for taking securities for Bank lending. To those in the financial industry, this piece of work could serve as a reference manual to them.

The manual can also educate people on the roles of Banking in economic development of Nigeria.

 

 

TABLE OF CONTENT

CHAPTER ONE:

1.0     INTRODUCTION

• BANKING SERVICES IN NIGERIA
• STRUCTURE OF BANKING
• COMMERCIAL BANK
• MERCHANT BANK
• DEVELOPMENT BANK
• CENTRAL BAK OF NIGERIA

CHAPTER TWO

• ROLES OF BANKING IN GENERAL ECONOMIC DEVELOPMENT
  • POLICIES
  • CHARACTERISTICS OF A GOOD POLICY
  • PROCEDURE FOR TAKING SECURITIES FOR BANK LENDING

CHAPTER THREE

• FINDINGS, RECOMMENDATION AND CONCLUSION
  • FINDINGS
  • RECOMMENDATION
  • CONCLUSION

BIBLIOGRAPHY

 

CHAPTER ONE

1.0     INTRODUCTION

A bank could be described as a major financial institution, other such institution include finance house, insurance companies, mortgage companies etc. the main function of these financial institution are to provide financial support to those who are in need. Apart form this function, banks perform other functions like rendering advice and counseling, acceptance of deposits, provision of loans and advances of providing a safekeeping place for people valuable many banks plays intermediary roles in the financial sector of the economy which focus primarily on the following.

1. Moderation of the rate of inflation
2. reduction of pressure on the external sector so as to achieve a sustainable balance of payment positions.
3. establishing the Naira exchange rate in Nigeria

banks could be classified into the following categories below.

1. Central bank
2. Commercial bank
3. Merchant bank
4. Development bank
5. Community bank.

Obviously, with an observer first contact with a developing economy, all those categories of bank plays crucial roles in stimulating the economy. They deal with members of the public.

Firstly, they all provide first information and investment advice to willing customers community banks for instance, were established primarily to spread banking services to the grass root, considering the fact that a greater percentage of the country’s population reside in the rural areas.

Development banks by implication tend to carry out their function effectively because they diversify into specialized areas such as agricultural and industry. Example of development bank are the Nigeria Agricultural and industrial development (NACB) and Nigeria industry development bank (NIDB). Hence the development of economy is stimulated through these agency function.

In order to achieve their set out objectives all these banks rely on certain instruments and policies which include reserve requirements, stabilization of securities, interest rate policies which include reserve requirements, stabilization of securities, interest rate policy (lending policy). Exchange rate and foreign exchange management. Discount rate policy among others which in Nigeria a developing country are put in place and over seen by the government owed central bank.

Lending has over the years become one of the most important function in banking operations. It provides money for investment which in turn yields turn over and (increases the liquidity in circulation due to this direct effect, it has on the economy and business development, it is being pursed in many developing countries were banks and their lending activities have been usefully. Integrated into government policy formation in the national economic development process. In Nigeria for instance, where majority of the population live in object poverty funds are very difficult to come by either for investment purpose or otherwise. Thus the federal government finds it necessary and critical to intervene to formulation of bank lending policies. Lending is giving something to someone else for use over short period of time (in this case money with interest where being paid back)

In the objectives of tending activities the bank in the country have come up with policy guidelines which basically provides the frame work for dealing with loans and advances. Some of these policies are designed to have relevance to these policies are designed to have relevance to the interval constraints of each bank for instance sector performance deposit base, risk existing exchange while others are derived mainly from the guidelines issued periodically by the central bank for control reasons and known as monetary and credit policy guidelines for each fiscal year. A lending policy of properly articulated could provide a guide for safe, sound and profitable banking activities, if on the other hand the lending policy is not properly formulated, it could lead to the banks liquidation.

Irrespective of the account of liquidity available in a bank, it may find it practically impossible to satisfy all the request it gets for loan since the request may out ship available resources. The bank thus has to discriminate in its decision to lend. Such action must however be based on objectives, funds available for loans must be juidiciously applied strictly along the bank policy guidelines. When the policy has been formulated lending procedures evolves as check towards ensuring that the objective of the

BUSINESS FAILURE AND ACCOUNTS PROFESSION IN NIGERIA

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 :
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ABSTRACT

The Nigeria economy within the first half of this century experienced quite a lot of business failure. Business failure can be defined as the inability of a particular business enterprise to continue to function as a going concern this development has started generating anxiety by both international and local investors in arriving at investment decision.

However, the task of identifying the root causes of corporate collapse in what this study seeks after. This study is carried out at ensuring a survival dosage of business in Enugu through the use of accounting profession (Auditing) to appraise operational performance.

Some of the causes of business failure includes mismanagement, bribery and corruption, and poor remuneration etc. the brain behind the failure of business in the political under tune in the appointment and selection of key officer to management positions.

Based on the findings in this study, the following conclusion were drawn, mismanagement mode of appointment and selection of key officers, poor coordinated management device, government interference and privatization and commercialization programme.

Finally, it is recommended that business should appreciated the importance of audit as a tool of evaluating performance, appointment of Board of Directors and top management officers should be based on skill, experience and qualification and government should also institute its commercialization and privatization programme in place etc.

 

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content.

 

CHAPTER ONE

• INTRODUCTION
  • Objective of the study
  • Statement of problems
  • Significant of the study
  • Hypothesis formulation
  • Scope of the study
  • Limitation of the study
  • Definition of terms

 

CHAPTER TWO

2.0     REVIEW OF RELATED LITERATURES

• Introduction
• The going concern concept of business

2.2.1. Definition of business

2.2.2. Forms of business

• Importance of business
• When a business is not going concern
• When a business may not a going concern

• Symptoms of imminent business failures
• Nature and causes of business failures
• The development of accounting profession (Auditing)
  • Definition of Auditing
  • Types of Audit
  • Importance of Auditing
  • The Auditor and the danger of self fulfilling prophesy
  • The Audit committee

2.5.5.1. Nature of Audit committee

2.5.5.2 Composition of Audit Committees

2.5.5.3 Functions of Audit committee

2.5.5.4. Qualification of Audit committee members

2.5.5.5. Size of Audit committee

2.5.5.6.Size committee relationship with management

2.5.5.7. Audit committee and the external auditor

2.6 The effect of business failures on a depressed economy.

 

CHAPTER THREE

3.0 RESEARCH DESIGN AND METHODOLOGY

• Introduction
• Research design
• Sampling techniques
• Questionnaire design
• Data collection techniques
• Questionnaire distribution and collection.

 

 

CHAPTER FOUR

4.0 DATA PRESENTATION AND ANALYSIS

4.1 Introduction

4.2 Data presentation

4.3 Test of hypothesis

 

CHPATER FIVE

5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION

5.1 Discussion of findings

5.2 Summary of findings

5.3 Conclusion

5.4 Recommendation

5.5 Suggestion for further studies

BIBLIOGRAHPY

APPENDIX

 

CHAPTER ONE

1.1 INTRODUCTION

The Nigeria economy within the first half of this century (20^th century, 1901 – 2000) experienced quite a lot of business failures. There was a rapid growth in the number of indigenous companies in the country, but these companies collapsed with the same rapidity with which they were established.

Business failures are actually one of the most difficult and complex concern faced by investors in the equity market or the stock exchange market in the recent times. Even with the best of strategic cooperate planning, business failure are still a common occurrence. Business failure can be defined as the inability of a particular business enterprise to continue to function as a going concern. The going concern concept presumed that an enterprise will continue in operation for the foreseeable future and that there is neither the necessity nor the intention to liquidate

In general it was gathered that some of the causes of business failure includes:

1. Lack of capital (inadequate capitalization)
2. Inefficient management
3. Poor remuneration packages
4. Inadequate accounting records
5. Unprofitable expansion (premature expansion)
6. Mode of appointment of chief executives etc.
7. Lack of feasibility study report.

Given the divesting effect of business ailments, it become necessary to undertake a research into the problems and failures of business life as well as making suggestion on ways of ameliorating their adverse effects.

According profession (Auditing) is one of the effective tool of evaluating and predicting business failures. Auditing is a process carried out by suitable qualified auditing) where by the accounts of business entities, including limited companies characterize, trusts and professional firms are subjected to scrutiny in such details as will enable the auditors to form an opinion as to their truth and fairness (Emile W. 1997)

So many parties such as creditors, investors owners, the firm itself and the government etc. are interested with the present and expected future earning and the stability of these earning, and financially business as a good concern. Therefore they need accounting profession to evaluate and compare the profitability as well as to predict the survival of the business.

Therefore, this study seeks to use statistical tools to appraise and predict corporate failure with the aim of putting into place an integrated framework on the subject.

 

1.2     OBJECTIVE OF THE STUDY

It has been argued in recent times that the monetary value of corporate failures is of