ABSTRACT:This research work is design to achieve a specific purpose on the role played by Auditors in protection of public funds in the Banking Industry.The research goes into providing a systematic financial accountability that will promote proper stewardship of asset deter wastes, dishonesty and promote effectiveness of reasonable cost.However, the literature review helps to ascertain other writes view concerning the subject of the study which explain how banking Industry is so organized in such a way that fraud could be detected easily and on time just because particular audits are assigned to particular personnel. The data used for this work was collected from primary and secondary source. Questionnaire were also used (200 in number) 120 were retained on filled while 20 missed on transit and total used was 60 in number. Against the background invaluable and reliable discovers were made.
Finally, the research recommends that the legislative are of government should make it mandatory for the accountant general to submit financial statement of banking Industry account to audit department for audit work within 6(six month of auditors to be given power to execute or enforce its finding after its work has been review by the public account committee (P.AL).
CHAPTER ONE
INTRODUCTION
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Research Questions
1.5 Research Hypothesis
1.6 Significance of the study
1.7 Scope of the study
1.8 Definitions of Terms
CHAPTER TWO
LITERATURE REVIEW
2.1 Fraud
2.2 Conduct of an Auditor
2.3 Auditor and his contribution toward efficient Management of Government Establishment E.G. Banking Industry.
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 The design of the research work
3.2 Area of study
3.3 Population size
3.4 Sources of Data Collection
3.5 Sampling Method
3.6 Validity and Reliability of Instrument
3.7 Method f Data Analysis
3.8 Instrument of data Collection
3.9 method of data collection
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
CHAPTER FVE
5.0 Finding, Conclusion and Recommendation
5.1 Summary of Finding
5.2 Conclusion
5.3 Recommendation
5.4 Limitation of study
Reference
Research Questionnaire
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
For a long time now Banking Industry have been witnessing a down turn in her development efforts. This primary cause of this down has been linked with the in or designate ambition of the average banking Industry to get rich quick at the expense of less privilege ones. Those who are seen themselves as being opportunity to perpetrate fraud or misappropriate public funds and properties.
Our law makers have seen that need for acceptable accountability by making a provision for the Banking Industry to report on the account f stewardship rendered by these public officers.
Section 126(1) the constitution of the Federal Republic of Nigeria 199, states that there shall be an auditor genral for each state who shall be appointed in accordance with the provision of section 126 of the constitution.
Section (2) says that the public account of a state and of all offices and courts of the state shall be audited by the auditor general for the state”
This study focused attention on how well or otherwise the Banking Industry audit department conduct it activities in response to section 125 of 1999 constitution of the federal republic of Nigeria.
STATEMENT OF THE PROBLEM
Public embezzlement always creates a consciousness on the part of the supervisory authorities as to the quality and degree of protective management of Banking Industry.
Lack of understanding of the purpose of auditing among the society in general.
Lack of a well defined gal oriented policies aimed at building up a strong and sound financial system.
Inherent weakness in the existing administrative arrangement for banking industry accounting function.
Improper supervision of overall officers under the authority entrusted with the receipts expenditure of public money.
Inability of the Banking Industry maintain a sound system of internal control
OBJECTIVE OF THE STUDY
The specific purpose which the project is design to achieve are:
To find out roles played by the audit department in protection of public finds.
To provide a system of financial accountability which will promote proper stewardship of assets deter wastes dishonesty and extravagancy and promote effectiveness at reasonable costs.
To ensure efficient financial administration through system of internal control and management information.
To determine the extent to which fraud misappropriate and embezzlement of public funds have persisted in public services.
To find out the delays inc carrying out audit of account of banking industry.
RESEARCH QUESTION
The following research questions were formulated by the researcher for the conduct of this project.
What aspect of the accounts government policies hinders effective and efficient auditing of account in banking industry.
How can banking industry supervise the expenditure of banking industry, taking care that no payment were made which is not covered by proper authority.
To what extent do fraud effect economic development of banking industry.
What measures should be taken to ensure that objective of auditing are achieved in banking industry.
RESEARCH HYPOTHESIS
HO: The audit does not play effective and role in the control of fraud in banking industry.
Hi: the auditor play effective and efficient role in the control of fraud in banking industry.
RESEARCH HYPOTHESIS
Hi: The auditor play effective and efficient role in the control of fraud in banking industry.
Ho: The auditor does not play effective and efficient role in the control of fraud in banking industry.
Hi: Banking industry should have qualified and efficient auditor in their audit department.
Ho: Banking industry do not have qualified and efficient auditor in their audit department.
Hi: Fraud affects the economic development of this country to a very great extents.
Ho: Fraud does not affects the economic development of this country to a great extents.
Hi: The performance of the auditors who audited various industries should be assessed.
Ho: The performance of the auditors who audited various industries should not be assessed.
Hi: the audit work suppose to be carried out regularly in every industries.
Ho: the audit work suppose not to be carried out in every industries.
SIGNIFICANCE OF THE STUDY
It is expected that the result of this study, will help to improve financial reporting by banking industry, providing annual reports in accordance with the requirement of audit acts, 1990.
The significant of the study to society in general is to correct the wrong notation of the society in general is to correct the notation of the wealth of banking industry which contrary to reality is usually. Regarded in position could cut his own share at will and get away with t.
To the banking industry is ensuing the standard that down in the staff manual of responsibilities and procedure are maintained.
To the auditor to pin point to them the risk that confronts the auditors in the excretes of his duties the legal action that could be taken against the auditor, she /he deficit in this duty.
The study sure as a quite for future governmental policy formulation on auditing guideline to banking industry.
Finally, it is expected that this study will serve as a work of reference to future researchers.
SCOPE OF THE STUDY
The study is a case study of U.B.A Ogbete Branch between 2007 to 2010.
In this study, the researcher only considered the accounting structure of selected banking industry on parastatals in the state, because of the following limitation.
DEFINITIONS FO TERMS
It is explaining of words that are technically used. E.g.
Embezzlement: Take (company funds etc) fraudulently for one’s own use.
Investigation: study carefully inquire into
Confronts: be or come or bring face to face with; face boldly.
Misappropriate: take dishonestly.
| 1 - 5 of 96 Reviews |