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ABSTRACT: Efficiency in auditing provides means of appraising company’s performance and diagnosing its ills and weakness.The researcher conducted a critical study on this topic with the intention of finding out the extent to which the company Nigeria breweries plc. Aba has carried out efficiently appraised and highlighted deficiencies and inefficiencies which are usually believed as not existing and whether the company Nigeria breweries plc, Aba is as efficient as it should be. The researcher also carried out a study t find out the causes of low company performance and how best to eradicate this annually by applying efficiency in auditing process.This research work is broken into five chapters. The first chapter gives the general introduction and discussions of the background of the study, statement of the study, objectives of the study, significance of the study, hypothesis testing, scope and definition of terms. Chapter three deals with research design and methodology. Chapter four deals with data analysis. Chapter five deals with findings, recommendation and conclusion. The researcher used oral and written data library research which formed part of the secondary data. Based on the above facts, the researcher formulated test hypothesis making use of null hypothesis the company auditing process is not efficient.Alternative hypothesis-H1. The company’s auditing process is efficient. Lastly attempt made on how best Nigerian breweries plc should be improved by applying efficiency in auditing process by carrying out the following objectives.

General analysis of the company.

Reviewing and appraising the soundness, adequacy and application of accounting and other operational control.

Ascertaining policies, plans and procedures of auditing by the company.

 

 

TABLE OF CONTENTS

CHAPTER ONE

Introduction                                                                  1

1. Background of the study                                   1
2. Statement of the study                                                2
3. Objectives of the study                                               2
4. Significance of the study                                  3
5. Hypothesis testing                                             4
6. Scope and limitations of the study                            4
7. Definition of terms                                              5

CHAPTER TWO

Literature review                                                          8

1. historical background of auditing                     8
2. Historical background of Nigerian breweries plc, Aba purpose of auditing                                                          11
3. Purpose of auditing                                           14
4. Selection of auditors                                          15
5. Audit of management                                        16
6. Collection and evaluation of evidence            17
7. Evaluation of internal control system               22
8. Planning for an auditors                                    36
9. Internal auditors importance                                       37
10. Procedure for efficiency in auditing                           39
11. Reliance on other auditors                                40
12. Role of auditing in companies                          41
13. Preparation of audit report                                42
14. Reference note                                                  44

CHAPTER THREE

Research and Methodology                                                45

1. Sources of data                                                 45
2. Interview question                                              45
3. Methods of investigation                                   46
4. Limitation of the study                                       48

CHAPTER FOUR

Data analysis                                                               51

1. Summary of data analysis                                78

CHAPTER FIVE

Findings, recommendation and conclusion             81

1. Findings                                                              81
2. Recommendation                                              82
3. Conclusion                                                                   85

 

CHAPTER ONE

INTRODUCTION

This research work is an attempt to study on auditing efficiency as a tool for improving company’s performance using Nigerian breweries plc 9th mile as a case study. Efficiency in auditing provider means of appraising company’s performance and it helps to detect the ills and weakness. Auditing as explained by audit operational standards is the independent examination of an enterprise by an appointed auditor in pursuance of that appointed and in compliance with any relevant statutory obligation. With the help of auditing knowledge, the intention is to find out the extent to which the company Nigeria breweries had carried out efficiently appraisal and highlighting deficiency and inefficiency which are usually believed as not existing and whether the company is efficient as it should be correctly. But when the company grows to a greater height, volume of transaction becomes substantial usually with public company. It will need the service of an accountant who is an auditor so as to be able to carry out his job more efficiently.

 

1. STATEMENT OF THE PROBLEM

In developing country like Nigeria, a company whether large, medium or small faces special problem of auditing inefficiency. The problems which includes incomplete recording of accounts, poor attitude to adhere to the accounting standards and guideline coupled with incessant fraud and defalcation have warranted that the techniques of audit should be mastered by accountants. This research work therefore attempts to highlight on these key problems, areas that will undermine auditing efficiency in a company and make suggestion about their possible solutions.

 

1. OBJECTIVES OF THE STUDY

Considering the above, the research work has undertaken to study the auditing efficiency as a tool for improving company performance using Nigerian breweries as the case study. It is intend to find out some of the reasons for deficiencies and inefficiency in the company which is usually believed as not existing. When in fact they started to find out ways to eradicate these abnormalities by the application of efficiency audit.

 

It is also intended to find out the extent to which management has appraised their own operations and how competent they have been in determining operational weakness and ills.

 

1. SIGNIFICANCE OF THE STUDY

Considering the above aims and objectives, there is the need to inform other users of the company’s financial information on the efficiency of audit as the tool for improving company’s performance. It helps to prevent fraud because if fraud is detected and prevented on time, the attainment of corporate objective will be much more effectively and efficiently pursued. If the company is efficiently audited, it will help the company to perform efficiently and make it to grow.

1. HYPOTHESIS TESTING

In carrying out this study, the researcher intends to test hypothesis are merely anticipated or expected relationships between or among the variables to interest. The hypothesis will be tested and conclusion arrived at the application of;

H0     the company’s auditing process is not efficient.

H1     the company&