EFFICIENT AUDITING OF ACCOUNTS OF PARASTATALS (A CASE STUDY OF NATIONAL EXAMINATION COUNCIL)
ABSTRACT  
This study was carried out to investigate the means of efficient auditing of accounts of parastatals. (A case study of National Examination Council).
In the course of carrying out the study, it was identified that efficiency can be gained through:-
i.      Through training and retaining of new staff into the department and reorientation of them
ii.    Employment of modern techniques of auditing should not be overemphasis.
iii.    Pectification of inadequacies in the mode of auditing should recommended
iv.    Observation of the above points numerous of them will create an impact to numerous problems encountered in auditing of accounting of parastatals
The work is arranged in chapters:
Chapter 1 (1) is on the introduction of work
Chapter two (2) is on literature related to the write – if were reviewed.
Chapter three (30 is on research design and analysis
Chapter four (4) on analysis
Finally, in chapter five (5) some recommendation and conclusion given
TABLE OF CONTENTS
CHAPTER ONE          
1.0    BACKGROUND OF THE STUDY                  
1.1           Introduction      
1.2           Statement of Problem         
1.3           Objective of the Study        
1.4           Hypothesis                  
1.5           Significance of the Study   
1.6           Scope of the Study     
1.7           Limitation of the Study
References
CHAPTER TWO
Review of Literature  
2.1    Theoretical Review and Empirical Review
2.2    The Review of Term and Terminologies in Parastatals
          Accountability  
2.3    Accountability and Auditing       
2.4    Conceptual Frame Work    
2.5    Cash Accounting       
2.6    Internal Audit and External Audit        
2.7    The Objectives of Internal Auditor
2.8    The Advantages of internal Audit        
2.9    External Auditors      
2.10  Compliance Audit and Efficiency Audit       
2.11  Efficiency Audit
2.12  The System Approach to Audit   
2.13  Internal Control Questionnaire  
2.14  Flow Charts
2.15  Compliance Test
2.16  Substantive Test                  
2.17  Audit of Parastatals Corporation and General
Welfare Services
2.2.1 Empirical Review of related Literature        
          Reference
CHAPTER THREE     
3.0    Research design and Methods   
3.1    Research Design       
3.2    Area of Study    
3.3    Population of Study   
3.4    Sources of Data
3.5    Sampling Method      
3.6    Research Instrumentation  
3.7    Validity and Reliability of Research Instrumentation   
3.8    Method of Investigation     
CHAPTER FOUR       
4.0    Presentation and Analysis of Data
4.2    Test of Hypothesis
CHAPTER FIVE                   
5.0    Summary of Findings and Conclusion and
Recommendation       
5.1    Findings   
5.2    Conclusion
5.3    Recommendation       
          Bibliography     
          Appendix
          Questionnaire   
CHAPTER ONE
1.0    BACKGROUND OF THE STUDY
1.1    INTRODUCTION
          Parastatals are that aspect of the economy where the government dominates all the activities carried out here on.
          The parastatals are devise despite the privatization and commercialization of some government agencies and the sector is still large. Almost all the activities in the parastatals has to do with political choice and this political choice plays a vital role in the resources allocations.
          The government either provide service on natural scale or else redistributes funds which are managed on semi autonomous basis. Parastatals accounting are governmental accounting in professional seals it is defined as the process of recording, analyzing, summarizing, communication and interpretation of financial information about the parastatals activities in aggregate and in the manner reflecting all transactions holding the receipts transfer and disbursement of parastatals funds and property.
          The federal republic of Nigerian is made up of these (3) levels of government namely federal, state and local government other wise known as three tiers of the political structure like wise in parastatals accounting, we have federal, state and local government accounting respectively, the accounting in the federal and state levels are the same, in that both are made up of the ministries, agencies and department.
 1.2    STATEMENT OF THE PROBLEMS
          One of the most research and least understood variable of parastatals accounting is the accountability of their financial control system.
1.                The difficulties facing the audit on the parastatals
2.                The recommendation of the best way of financial control in parastatals
3.                The internal auditors are likely to encounter some problems during the cause of discharging their duties. Most especially those auditors that are always traveling either on a relief posting to another branch office or those that co-ordinate audit work in all the branches throughout the federation to the head office in Lagos where the final statement of account will be.
1.3    OBJECTIVES OF THE STUDY
          The following are the objectives of the study and they are as follows:
1.                To identify the peculiar problem internal auditors faced while carrying out their duties.
2.                To determine the problems facing audit in the parastatals accounting.
3.                To recommend the best way of financial control in parastatals.
 1.4    HYPOTHESIS
1.      H0     Internal auditors face peculiar problem in carrying out their audit duties
Hi      Internal auditors do not face peculiar problems in carrying out the audit duties.
2.      H0     Auditors face problems in parastatals accountings
          Hi      Auditors do not face problems in parastatals accounting
3.      H0     There is no best way to recommend financial control in parastatals accounting
Hi      There is best way to recommend financial control in parastatals accounting.
 1.4    SIGNIFICANCE OF THE STUDY
          This research work will be of paramount importance basically for auditors in the parastatals and the researcher   as enumerated but there are divided into (2) two practical and academicals
Practical
a)                It will be guide to the field auditors in knowing how to conduct their audit inspections in a minor capable of achieving best results.
b)               It serves as a corrective tool to public officers who regard compliance or regularity audit as a routine duty to be performed by auditors merely to earn his monthly salary to under stand that the recommendation made by auditors mighty lead to their retirement, dismissal or demotion in service.
Academicals
a)    It will help the individuals who are carrying out the research work especially those in the department of accountancy who may decide to research more on this topic.
b)   Finally, this work is of important to the researcher because this study is an academic exercise and part of the requirements for the Award of Higher national Diploma in accountancy department to the researcher by the Institute of Management and Technology
 1.5    SCOPE OF THE STUDY
          The study is limited to efficient auditing as a tool for enhancing accounts of parastatals as it effects National Examination Council. The study was narrowed down as stated  above, because of the need to perform an in-depth analysis of the efficient accounts of parastatals.