Our Archives

Call 08068929770 or 08122972656 for any enquiries.

Project Topic:

EVALUATION OF VALUE FOR MONEY AUDIT, AS A TOOL FOR FRAUD CONTROL IN THE PUBLIC SECTOR (A STUDY OF POWER HOLDING COMPANY OF NIGERIA ABUJA)

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 58 ::   Attributes: Questionnaire, Data Analysis,abstract, table of content, references ::   1,541 people found this useful

Project Body:

ABSTRACT

The scope of governmental auditing has been widened over the year by the demand for independent verification of information to the extent that it can no longer be limited to the audit of financial operations, but value for money audit which ensures that the activities and programs are carried out at low cost and high standard. Lack of commitment in cost efficiency to the overall achievement of goals by the managers in the public sector brought the need of this research work titled “Evaluation of value for money audit as tool for fraud control in the public sector”. The aim was to ascertain whether government auditing achieves the purposes for which programs are authorizes and funds released economically and efficiently in accordance with applicable law and regulations. A survey research design was adopted for the study with sample size of 100 respondents randomly sample and stratified from Audit and finance department of PHCN (Abuja). Three hypotheses were tested at 5% level of significance using the analysis of variance (ANOVA) statistics. it was found that value for money audit play a vital role in promoting the effectiveness and efficiency of activities in the public sector the researcher recommend that government should support the implementation of policies formulated to enhance value for money audit in the public sector.

 

CHAPTER ONE

1.1 BACKGROUND OF THE STUDY

Every sector of the economy both the private and the public sector has its own objectives and goals to achieve. For the public sector of the economy, their goal is to satisfy the social needs of the citizens and in the effort to achieve these purposes, auditing more often, play a vital role.

 

The size and scope of these sectors have sometimes made it clear for the executor to exercise personal and first hand supervision of operation. It is in this light that value for money audit established by management is initiated, for any organization to carry out its business efficiently and effectively, there must be some factors that must be put in place for the smooth running of the organization like materials, machines, human labor and money e. t. c.

Auditing is seen to play an intermediary function in between management and the resources of the organization. It is also fundamental to any business either the public or private sector, which will help the business to keep its adequate financial records. These financial records are kept in response to the demand by a system control which requires that the business enterprise must be carried out in an orderly manner, ensure adherence to management policies, safe guard the assets and secure possibly the completeness and accuracy of the records. Irrespective of these facts of system of control established by the management of the organization, fraud still thrives.

In the early 1970s, the role of the state auditors began to change dramatically. Changes began in USA, Canada, and in several European countries. The representative of the people started demanding information on the efficiency and effectiveness of public expenditure.

In Nigeria no specific legislation has been put in place to empower auditors to carryout value for money audit. However, the 1999 constitution section 88 (2) empowered both the two federal house and the state house of assembly to conduct investigation to expose corruption, inefficiency or waste on the execution or administration of law within the legislative competence and in the disbursement or administration of fraud appropriated by it.

 

(BRIEF REVIEW OF THE FIRM, POWER HOLDING COMPANY OF NIGERIA, P H C N)

The history of electricity in Nigeria can be dated back to the end of the 19th century when the first generating plant was installed in Lagos in 1898. From then until the 1950, the platform of electricity development was in the form of individual electricity power undertaking scattered all over the towns, some of the few undertaking were federal government bodies under the public works department, some by the native authorities and others by the municipal authorities.

 

1.2 STATEMENT OF THE PROBLEM


Fraud is a complex phenomenon. It is rampant in both private and public sectors of Nigerian economy. In the public sector, value for money audit reports are mostly unqualified even in a glaring situation or cases of corrupt practice by the managers that means that auditors especially those in public establishment compromise their duties or their duties are influenced and threatened in the performance of their statutory functions.

Therefore these studies tend to find out why there are:

1). Improper methods of appointment of auditors

2).Inadequate internal control

3). Lack of independence of auditors

4). Untimely and unreliable financial statements

5). Lack of transparency and inadequate method of accountability

 

1.3 OBJECTIVES OF THE STUDY

This study tends to find out some of the objectives which will include:

1. To find out the effect of value for money audit in fraud detection and control in the public sector.

2. To find out the relationship between internal control and fraud detection.

3. To determine what extent is the value for money audit relevant to the effectiveness and control of an organization.

4. To find out why there is lack of transparency and inadequate method of accountability.

5. To find out why there is inadequate internal control system.


Get The Complete Project »

Project Department:

MORE ACCOUNTING FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

Instantly Share this Project On Social Media:

CLOSELY RELATED ACCOUNTING FREE UNDERGRADUATE PROJECT TOPICS AND RESEARCH MATERIALS

AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Secondary data, Data Analysis,Abstract  ::   8186 engagements

CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »

A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   6566 engagements

ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »

AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 78 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   4262 engagements

HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »

APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   4450 engagements

2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »

ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 69 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   3865 engagements

ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »

ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 86 ::   Attributes: Questionnaire, Data Analysis  ::   3302 engagements

THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »

What are you looking for today?

TESTIMONIALS:

  • 1. Mohammed A.B from Veterinary Laboratory, Zanzibar ,Tanzania said "You are doing good job to assists in research. God bless you.".
    Rating: Very Good
  • 2. Grace Madu from IMT enugu said "Thank you so much; i will tell my friends about you guys!!! Please give them a good job just like mine!!! God bless you!!!".
    Rating: Excellent
  • 3. Favour Adeoti from Unimaid said "For the good deeds and help to students like me, may God almighty continue to bless u and empower you to do more. Thank u very much...".
    Rating: Excellent
  • 4. Saddiq Abubakar Shuaibu from ESAE BENIN UNIVERSITY said "I check your site because I want you to help do this project thank you".
    Rating: Excellent
  • 5. Temitope Olumide from UAM makurdi said "I can not believe i could trust online platforms but you prove to me that there are still some good people out there. Thank you Mr Donald".
    Rating: Excellent
  • 6. Topeola Atinuke from the bells said "hmmmm, not sure yet about all dis comment still working on dem yet....tank u".
    Rating: Average

Paper Information

Format:ms word
Chapter:1-5
Pages:58
Attribute:Questionnaire, Data Analysis,abstract, table of content, references
Price:₦3,000
Get The Complete Project »

Best Selling Projects

Our Archives