TABLE OF CONTENTS
TITLE PAGE
CERTIFICATION
DEDICATION
ACKNOWLEDGEMENT
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Study
1.3 Objectives of the Study
1.4 Research Hypothesis
1.5 Research Methodology
1.6 Scope and Limitation
1.7 Definition of Terms
1.8 Plan of the Study
1.9 Research Question
CHAPTER TWO
2.0 Definition of Auditing
2.1 Meaning of Auditing
2.2 Objective of Auditing
2.3 Audit Fundamental
2.4 Types of Auditing
2.5 Accounting and Auditing Compared
2.6 Auditors Responsibilities
2.7 Audit Plan
2.8 Audit Working Papers
2.9 Audit Report
REFERENCES
CHAPTER THREE
3.1 Research Design
3.2 Research Approve/Method of Data Analysis
3.3 Population Sample and Sampling Technique
3.4 Sources of Data
3.5 Research Instrument
3.6 Method of Investigation
CHAPTER FOUR
4.0 Data Analysis and Presentation of Results
4.1 Regression Analysis
CHAPTER FIVE
SUMMARY CONCLUSION AND RECOMMENDATION
5.1 SUMMARY
5.2 CONCLUSIONS
5.3 RECOMMENDATIONS
CHAPTER ONE
BACKGROUND TO THE STUDY
1.1 INTRODUCTION
In Nigeria, the company allied matter degree statutorily established basic frame which the auditor prevails. The degree made it obligation for every company incorporated in respect of;
a. All fee received and expenditure by the companies and the matter in respect of which the receipt and expenditure takes place
b. All sales and purchases of the goods of the company
c. All asset and liabilities of the company (section 140)
d. The degree future provides that proper books of account shall not be deemed to be kept if there are no such books as are necessary to give a true and fair view of the state of the company affairs and to explain its transaction.
Pertinently, in reference to the above statutory established by the company allied matter degree (CAMD) auditing could be traced from ancient times when the land owners allowed tenant farmers to work on their land. While land owners themselves did not become involved in the business of farming. The land owners relied upon the business of farming. The land owners relied upon the stewed who listed to the account provided by tenants. This is further explained that the productive resources owned by one person or group of person are managed by another or group of person.
Apart from the public own central government or person appointed by government.
These are owners of properties who appoint another person to take care of their properties. He will want to know, how effectively the stewards managed the property when the owners of the property inquire from the stewards, how effective will be give the account.
This is known as ‘stewardship’ in the case of limited liability company reporting to the shareholder it is done through the use of the final account it often vary in problems the exists when the manager or stewards reports to owners, the owners may not belief the report, the attempt to solve this problem of creditability gave rise to ‘auditing’ This means that another person other than the person who prepared true account will have to assess the account whether or not the account is correct.
According to the Audit Practice Committee (APC) which defines auditing as ‘the independent examination of an expression of opinion on the financial statement of an enterprise by an appointed auditor in pursuance of what appointment and compliance with any statutory obligation.
As pertaining to the auditing standard, ‘the independent examination and investigation of the evidence from which the financial statement has been prepared with a view to enabling the independent to examination report whether in his opinion an accounting is to the best of the information and explanation obtained by him. The balance sheet is properly drawn up so as to give a true and fair view of the state of affair of the business and that the profit and loss account gives a true and fair of the profit and loss for the financial period, according to the best of the information and explanations given him, and as shown by the books, and if not report in what respects he is not satisfied’.
The Company and Allied Matter Decree Act 1990 in schedule “9” laid down the following matters which expressly state the following matters in their reports:
a. Whether they have obtained all the information and explanations which to the best of their knowledge and belief were necessary for the purpose of their audit.
b. Whether in their opinion proper books of account have been kept by the company as far as appears from their examination of those books.
c. Whether proper returns adequate for the purpose of their audit have been received from branches not visited by them.
d. Whether the company’s balance sheet and unless it is framed as a consolidated profit and loss account; profit and loss account dealt with by the report are in agreement with the books of account and returns.
e. Whether in their opinion and to the best of their information and according to the explanations given them the said statements give the information requires by the Decree in the manner so required are given a true fair view of affairs and profit or loss of the company and its subsidiaries and associate.
