ABSTRACT
This is a research work that is carried out on the impact of audit report on organizational performance, Ughelli Branch. This study explains what audit is all about, stating clearly that it is a written report about the accuracy and reliability of a client by a qualified auditor which is presented to the management in form of financial statement. Base on this report, the auditor goes on to express his opinion on whether the financial statement of the organization to shows a true and fair view during the year under review. The study clearly review the problems of financial statement of an organization, the areas to be covered on the study which is restricted to P.H.C.N Ughelli in particular, the source of information which involves the use of questionnaires and time limit given to complete the study. Report writing has to do with communication and conveying information and ideas to someone else. This testifies if the report is writing by an independent public account on the basic of a standard examination of the financial statement of a client’s company. The reporting auditor has a message, which he wishes to convey to those who will need his report. In writing a report, an auditor must assume that his researcher will have some basic knowledge of business operators of accounting statement and of the particular company to which the report may concern. The auditor must be independent. The American institute of certified public accountants has established some standards that are to be observed by its member in their professional work. The original under review must have an internal control system, which contain its plan, assignment and responsibilities. The auditor work is carried out at the client’s premises auditors expresses an unqualified opinion on a client’s financial statement when the report does not contain certain reservations. The qualified opinion restricts the auditor’s responsibility for fair presentation in some areas of the financial statement.
TABLE OF CONTENTS
Title i
Approval ii
Certification iii
Dedication iv
Acknowledgement v
Abstract vi
Table of content vii
CHAPTER ONE: Introduction
1.1 Background of the study 1
1.2 Statement of the problem 2
1.3 Purpose of the study 3
1.4 Research questions 3
1.5 Significance of the study 4
1.6 Scope/Delimitation of the study 4
1.7 Limitation of the Study 5
1.8 Operational definition of terms 6
CHAPTER TWO: Literature Review
2.1 Introduction 8
2.2 The Boar of Directors and Its Members 10
2.3 Power of the Board 11
2.4 The General Managers and his Principal Officers 11
2.5 Financial Department 15
2.6 Importance of Power 18
2.7 Qualification of Auditor 19
2.8 Auditors Examinations and Evaluation Standard 20
2.9 Internal Control 21
2.10 Adequate Planning 22
2.11 Audit Evidence 24
2.12 Form and Distribution of the Report 25
2.13 Report on Group Account 25
2.14 Timeless of Reporting 25
2.15 Financial Reporting 26
2.16 Qualified and Unqualified Opinion 27
2.17 Report to Management 28
2.18 Relationship of Auditor to their Parties 28
CHAPTERTHREE: Research Methodology
3.1 Introduction 30
3.2 Research Design 30
3.3 Population of the study 30
3.4 Sample size 30
3.5 Sampling Techniques 31
3.6 Research Instrument 32
3.7 Validation of the Instrument 32
3.8 Reliability of the Instrument 33
3.9 Method of data collection 33
3.10 Method of data analysis 33
CHAPTER FOUR: Data Presentation and Analysis
4.1 Introduction 35
4.2 Data Presentation and Analysis 35
4.3 Discussion of Findings 42
CHAPTER FIVE: Summary, Conclusion and Recommendations
5.1 Summary of findings 44
5.2 Conclusion 45
5.3 Recommendation 45
Bibliography 47
Appendix 48
Questionnaire 49
