1.1 BACKGROUND TO THE STUDY
1.4 STATEMENT OF
1.5 STATEMENT OF THE
1 .6 SIGNIFICANCE OF THE
1.7 SCOPE AND LIMITATION
OF THE STUDY
1.8 DEFINITION OF TERMS
2.2 CHARACTERISTICS OF THE NIGERIAN PUBLIC ENTERPRISES
2.3 OBJECTIVES OF PUBLIC
2.4 MANAGEMENT OF THE
NIGERIAN PUBLIC ENTERPRISES
2.5 PROFITS AS PERFORMANCE INDICATOR IN PUBLIC ENTERPRISES
PROBLEMS OF ACCOUNTING PROFIT
OF PERFORMANCE EVALUATION
2.8 INTERNAL AUDITING
OF INTERNAL AUDITING
AUDIT DEPARTMENT AT NTA LAGOS
2.12 DIFFERENT PERSPECTIVES ON INTERNAL AUDITING
2.13 ACCOUNTABILITY IN
NIGERIAN PUBLIC ENTERPRISES
2.14 BRIEF ON NIGERIAN
TELEVISION AUTHORITY (NTA)
2.14.1 HISTORICAL BACKGROUND
2.14.2 THE BEGINNING
2.14.3 THE BIRTH OF NTA
OF THE STUDY
3.3 SAMPLING TECHNIQUES AND DETERMINATION OF
FOR DATE COLLECTION
3.6 DATA ANALYSIS
PRESENTATION AND ANALYSIS OF DATA
4.2 DESCRIPTIVE ANALYSIS
OF RESPONDENT DATA
CONCLUSION AND RECOMMENDATIONS
5.2 SUMMARY OF
TO THE STUDY
The' term management was coined from the Italian word "managgiare”
which connotes ‘to train horses’. It was originally used to indicate the
process of training or coordinating sporting activities. Later its application
was extended to
the operations of government and businesses.
Akpala (2001) describes management as
the process of combining and utilizing organization's inputs (men, materials,
money and' machine) by the
mix of planning,
organizing, directing and
controlling activities for the purpose of producing outputs (usually goods and
services), desired by the customers, so that the organization’s objectives are
accomplished. In the definition given above, it is worthy of inference that
control is an essential tool of management. The term control was rightly described
by Lucey (1990) as “a systematic effort by business management to compare
performance with predetermined standards, plans or objectives to ensure that
performance is in line with standard and also to take remedial action required
so that human and other corporate resources are employed in the most efficient
and profitable manner.
system is very essential in any organization be it a private or a public
establishment/sector in order to check how effective and efficient they are in maximizing the
use of resources. One of the measures commonly used to minimize wastage and guide
plans to their eventual accomplishment is Internal Auditing.
Embezzlement, misappropriations, fraud and wastage of resources
have been the characteristics of government ministries and public enterprises.
Based on the
literatures and daily
experiences, one could conclude that there is a fairly unanimous feeling of
dissatisfaction with the performance of most Nigerian public enterprises to
Internal auditing has been defined by Adelaja (2000) as "an independent appraisal of
activity within an organization for the review of operations as a service to management. It is a form of a managerial
control which functions by measuring and evaluating the effectiveness of other
controls". This project seeks to find out if the internal audit department
exists in these enterprises and if it does, in what way has it contributed to
the efficient management of such enterprise. It is not possible to sample
all the public enterprises in Nigeria therefore the main focus of this project
is on the Nigeria Television Authority (NTA), Lagos branch.
1.2 STATEMENT OF PROBLEM
Ogunjimi (2001) while writing on accountability in the
Nigerian public enterprise observed that in the course of government’s involvement in the economic and social aspects
of the 'nation’s development; public enterprises now play a vital role in the development process and
since these public enterprises handle high proportion of government fund, proper
account of stewardship are needed. It is also important to note that
established controls to ensure proper accounts of operation have been grossly
abused by lack of accountability and stories of woe on the performance of such
enterprises. Despite the controls installed, irregularities, embezzlement,
misappropriation of public funds, fraud and gross wastage of resources-are
still the order of the day in the public enterprises.
The internal audit department exists so as
to reduce organizations’ excesses
such as financial mismanagement and lack of proper accountability to the barest
minimum even if it cannot be completely eliminated. Internal audit which is
supposed to serve as a control tool sometimes becomes ineffective due to some
inbuilt factors that impair its independence and thus hinder its efficiency.
1.3 STATEMENT OF
purpose of this project is to critically evaluate internal audit as a control
tool for efficient management in Nigerian public enterprises using the Nigeria
Television Authority, Lagos branch as a case study.
1.4 STATEMENT OF RESEARCH QUESTIONS
questions are to be answered in the course of this study:
(1) What factors hinder
internal audit efficiency in Nigerian public enterprises?
(2) Does good internal
audit practice improve managerial performance in Nigerian public enterprises?
(3) Why have the
established controls failed to enhance the managerial performance in the
Nigerian public enterprise?
1.5 STATEMENT OF THE HYPOTHESIS
following are the statement of hypothesis to be utilized for the study and they
Ho: Internal audit
practice do not improve managerial performance
in Nigerian public enterprises.
H1: Internal audit practice Improve managerial performance Nigerian public enterprises.
(B) Ho: There are no factors that hinder internal
audit efficiency in Nigerian public enterprises.
There are factors that hinder internal
audit efficiency in
Nigerian Public enterprises.
(C) Ho: All established controls have not failed to enhance the Managerial
performance in the Nigerian public enterprises.
H1: All established controls have failed to
enhance the managerial performance in the Nigerian public enterprises.
1 .6 SIGNIFICANCE OF THE STUDY
Given the necessary role that the internal audit department
plays in public enterprises and the seeming ignorance of the employees as to
their contribution to this department and to the efficient management of such
enterprises, makes this study essential. It is therefore necessary to enquire
into the relationship among the internal
audit department, employees and the management team as these three groups are
supposed/expected to carry on activities directed towards the enhancement of
the worth or value of their enterprise.
study will also confirm or discredit the belief of some people that internal
audit is not necessary in the public enterprise.
this study will make insight into the deficiencies in the current internal
audit practices and will therefore be useful to those who are at the helm of
affairs in the country.
it is hoped that this study will serve as a launching pad for researchers who
may like to carryout research on similar area of study.
1.7 SCOPE AND LIMITATION OF THE STUDY
is the case study of Nigeria television authority- Lagos; and as such the outcome
of the study may not be of universal application. This enterprise has been
chosen due to the prominent role which it is expected to play in the life of
the average Nigerian. This study is expected
to be constrained by time, money, non release of questionnaires and the respondent attitude
to revealing vital information.
1.8 DEFINITION OF TERMS
A. CONTROL: This is the ability influence
others in order to achieve a common purpose.
INTERNAL AUDIT: This is a review of
operations and records, sometimes continuous, undertaken within a business by specially
C. INTERNAL AUDITING: An independent appraisal of activity within an organization for
the review of accounting, financial and other operations as a basis for service to management
in order to measure and evaluate the effectiveness of other controls.
D. INTERNAL CHECK: This is the
allocation of authority and work in such a manner as to afford checks on the
routine day-to-day work by means of the work of one person being proved
independently by another or the work of one person being complimentary to that
INTERNAL CONTROL: This is defined as
not only internal check
and internal audit but the whole system of controls, financial and otherwise,
established by the management in order to carry on the business of the company
in an orderly manner, safeguarding its assets and secure as far as possible the
accuracy and reliability of records.
MANAGEMENT: The process of planning,
organizing, leading and controlling the efforts of organization’s members and
of using all other organizational resources to achieve stated organizational
Adelaja, S. O. (2001).Principle of Auditing. Lagos: Distance Learning Institute. Pp.35
Akpala, A. (2001.Princtpies of Management-A Nigeria approach Enugu: Fourth dimension publishers limited.
Lawal, A. A. (2003) Management in focus Lagos: Adeola printing
Management Information System. Lagos: University of Lagos, class note.
Omileke, "Internal control-internal audit: Panacea for
corporate growth and survival Nigerian Accountant, Vo1.36 No.4
(October\December 2003). pp 22- 23.
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