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Product Category: Projects

Product Code: 00001167

No of Pages: 78

No of Chapters: 5

File Format: Microsoft Word

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Title page

Certification                                                             ii     

Dedication                                                               iii

Acknowledgement                                                    iv

Table of content                                                       vi



1.1      Background of the study                                  1

1.2      Statement of the problem                                4

1.3      Objective of the study                                      6

1.4      Significance of the study                                  7

1.5      Research Methodology                                     8

1.6      Organization plan of the study                         9

1.7      Definition of terms                                           10



2.1   Audit Concept                                                  13

2.2   Audit Objective                                                14

2.3   Type of Auditing                                               18

2.4   Merit of Audit and Audit right                          25

2.5   Auditors Qualities and Responsibility              29

2.6   Audit procedure                                               32



3.1   Research Methodology                                     41

3.2   Brief history of University of Ilorin                   42

3.3   Research Design                                              42

3.4   Questionnaire Design                                      43

3.5   Limitation of the study                                     47

3.6   Method of Data Analysis                                  48



4.1   Data presentation                                            51

4.2   Data Analysis                                                   55

4.3   Discussion of Finding                                      62



5.1   Summary                                                         63

5.2   Conclusion                                                      65

5.3   Recommendation                                             66

Bibliography                                                    68

        Questionnaire                                                  69




The ancient Greek and Romans are reported to have developed a system accounting records. It was the Greek who first used the word Audit which means to hear. This is the origin of Audit meaning some examination of account kept by others.

The join stock companies act 1884 was the legislation in Britain to require all incorporated business to have their annual financial statement examined by an auditor. The auditors were required to state whether the account showed a true and correct view of the state of affairs of the company. The expectation of the shareholder at this time was that auditors should detect fraud and error earlier cases of low reinforced this view. The heavy emphasis on detection of fraud and error continued into the mid 20th century until it becomes regarded as management responsibility to prevent and detect fraud and error.

The early auditor were in many cases non-accountant but it was the companies act 1990 that required the auditors to be independent and it was not until the 1984 companies act that their require be professionally qualified.

The modern auditing is a complex operation calling in wide variety of skill ranging from auditing and financial accounting knowledge to statistics computing and communications skill.

During the colonization of the country, British colonialist brought auditing as a profession to Nigeria. In an attempt to manage the government resources efficiently and effectively the British through it was necessary to set up regional audit office in the four regions created by them namely, Western, Northern and Midwestern region with headquarter in each region capital.

In the light of the above introduction, it is pertinent to give the definition of “Auditing” According to A.O. Aiyedogun study manual is an independent examination of an expression of opinion of the financial statement of any entity, whether profit oriented or not, and irrespective of its size by an appointed auditor in pursuance relevant statutory obligation.

Taylor R. Glessen defined auditing as a system or process of obtaining and evaluating evidence regarding assertion about economic actions and event to confirm the degree of correspondence between those assertion and established criteria and communication of the result interest users.


It is pertinent to first of all take a look at the sword auditing before evaluating the effective aspect of it. Precisely, an auditing is a n independent examination of an expression of opinion of the financial statement of the entity, whether profit oriented or not and irrespective of size by an appointed auditors in pursuance of that appointment and incompliance with any relevant statutory obligation.

For an audit to be effective in an establishment there is the need for an internal audit as a tool for ensuring effective working of the internal control system. Internal audit is a management controls which function by measuring and evaluating the effective of other controls. Ironically, most government organization though have an existing internal control but its lacks credibility.

This project therefore intends to take a look at the auditing objectives of University of Ilorin with a view to taking a look at it credibility, by ensuring that the voucher being audited is in line with the set policies or regulations of the university and that the basic input requirement are fully attached to the voucher.

Not only that the studies tries to find out whether or not certain audit objectively existed in the establishment this includes completeness, which ensure all account balance are included, accuracy which ensures that transaction are mathematically accurate and based on the correct period etc.



    The objective of the research work will be to:

a.   Verify the roles being played by an auditor in carrying out effective auditing in higher area of jurisdictions.

b.  Examine critically hoe effective is the system adopted.

c.   Evaluate the adequate of the system.

d.  Examine the auditor’s auditing procedures as to the way duties are carried out to the laid down rules and regulation.

e.   Examine the problems limiting against the effective performance of the auditor’s role and to give recommendation where necessary.



The significance of the study is as follows:

·        It helps the government establishment in the presentation of financial statement for a period of time to give a true and fair view.

·        It helps the people more about the importance effective auditing in the government establishment.

·        It educate the government workers on how to avoid any irregularities e.g. fraud, manipulation of figures and foreign.

·        To offer a suggest ways in which effective auditing need to be done in any government establishment.

·        And finally to identify the factors that hinder effective auditing in government establishment.


One cannot emphasis the important of data collection in conducting and meaningful research.

Research methodology is therefore defined as the process of driving at dependable solutions to problem, analysis and interpretation of data.

        In summary, research is the process of arriving at dependable solution through the systematic investigation into a subject or problem of event or phenomenon. This involves systematic collection of analysis and interpretation of data. It is often designed to seek knowledge or more information on specific problems or issue for the purpose of predicting future occurrences for advancing knowledge and for enabling man to relate more effectively to his environment.

        This research work is therefore, conducted through and questionnaire, while information collected from secondary source include already processed and analyzed data obtained from related books and publication in the office of auditor, such as civil services rules, store regulation, government circular and financial instruction.


This project work is divided into five chapters the first chapter with the background of the study, objective of the study and research methodology, also definition of terms.

The second chapter deals with the relevant literature review of various author whose text books on auditing were consulted for this writing and these include type of fraud, qualities and responsibilities of an auditor procedure.

Chapter three embodies the research. While the chapter four embodies presentation and analysis of data collected and finding. It gives the meaning and approach of effective auditing and problems associated with auditor role.

Finally, chapter five includes the summary, conclusion and recommendation.


These are some terms used in auditing process for the purpose of clarity and understanding of some these terms was related to this research work are defined below;

Accounting Control:       This is the plan of an organization and procedure that relate to safeguarding of asset and the reliability of the accounting records.

Auditing Standard: Describe the quality of the performance of auditing procedure and objective to attained by the used of the procedure.

Auditing Independence: The state of being impartial without a bias mind or fair to all users of financial statement.

Cash Survey:   This is of checking physical cash, bank teller and cheque against cash book to financial statement.

Instant Audit: This is a system of checking government account immediately after spending any amount of money. This usually occurs in sub treasury when payment is made on salary and other charges.

Teeming and Lading:      This is a system of misappropriating receipt from customers and covering up by crediting the customer with another receipt from customer e.g. Revenue of school fees is being converted to another fees.

Physical Inspection:       This is the checking of physical assets such as stores, project, vehicle and other physical assets that might be required to be seen by an inspecting officer (auditor) to physical confirms its existence.

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