Hi Positive World Project : 08/18/16

Thursday, August 18, 2016

EVALUATION OF VALUE FOR MONEY AUDIT AS A TOOL FOR FRAUD CONTROL IN THE PUBLIC SECTOR

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Every sector of the economy both the private and the public sector has its own objectives and goals to achieve. For the public sector of the economy, their goal is to satisfy the social needs of the citizens and in the effort to achieve these purposes, auditing more often, play a vital role.

The size and scope of these sectors have sometimes made it clear for the executor to exercise personal and first hand supervision of operation. It is in this light that value for money audit established by management is initiated, for any organization to carry out its business efficiently and effectively, there must be some factors that must be put in place for the smooth running of the organization like materials, machines, human labor and money e. t. c.

EVALUATION OF FRAUD CONTROL MEASURES IN THE NIGERIAN BANKING SECTOR

CHAPTER ONE

1.0 Introduction

1.1 Background to the Study

Fraud is an intentional deception made for personal gain or to damage another individual. Fraud is a crime and a civil law violation. Defrauding people of money is presumably the most common type of fraud. Customers of banks are currently experiencing increase in fraud schemes. Scams to get a customer personal information can occur through many different means such as e-mail and telephone.

Bank fraud is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution. In many instances, bank fraud is a criminal offence, while the specific element of a particular banking fraud law varies between jurisdictions; the term bank fraud applies to actions that employ a scheme as opposed to bank robbery or theft.

ENHANCING CORPORATE ACCOUNTABILITY THROUGH EFFECTIVE AUDIT SYSTEM

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Accountability in both public and private section has being an issue that is worth discussing due to its paramount and colossal impact to the overall performance of an organization. It (Accountability) has to do with reporting back action, task carried out by an individual to the authority who apportioned such function.

Accountability is the process or act of reporting back to a higher authority, body or individual the actions taken by a steward. It enables the person or persons reported to determine if the steward has acted or performed the assigned duties properly and satisfactory. It plays a major role in the success or failure of any business, particularly when the business is not managed by its owner.

EFFECTS OF STANDARD COSTING ON THE PROFITABILITY OF MANUFACTURING COMPANIES

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The effect of standard of standard costing on profitability has been a problem to manufacturing companies in Nigeria. The standard costing as a tool for either improving or not improving profitability. Unlike its contemporaries in the field of science, it deals with human beings and calculation significant information.

Lucey (2012) defines standard costing as a technique which establishes pre-determined cost estimates of the cost of products and services and then compares these pre-determined costs with actual costs as they incurred. Standard cost represent am estimated or pre-determines total cost of product per unit for an organization. Adeniji (2019) argues that the process of estimating the total cost of production per unit is described as standard costing technique.

EFFECTS OF INFORMATION TECHNOLOGY ON THE EFFICIENCY OF TAX ADMINISTRATION IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Taxation is one of the oldest and major sources of government revenue. The history of taxation in Nigeria dates back to the pre-colonial era. During this period, there were different systems of taxation existing in the forms of compulsory services, contribution of goods, money, labour and the likes, among the various kingdoms and ethnic groups and tribes controlled by the Obas, Emirs etc., in order to sustain the Monarch and also for community development (ICAN,2010)

EFFECTIVENESS OF INVENTORY MANAGEMENT IN A MANUFACTURING COMPANY

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Inventory is one of the resources that are managed by business organizations and it was first recorded in 1601. The need for inventory control cannot be overemphasized as it is a means for improving the performance of manufacturing industries. Inventory can be defined as a record of a business current assets including property owned, merchandise on hand and the value of work in progress and work complete but not sold and it is classified as a current asset because it can be turned into liquid cash within a short period of time. Inventory has created a great impact on the profitability of the manufacturing firm which resulted to the deep research of this topic. Effectiveness of inventory management in a manufacturing company.

EFFECTS OF BUDGETING AND BUDGETARY CONTROL IN EXTRACTING INDUSTRY

CHAPTER ONE

1.1 Background to the Study

Today the important of budget and budgetary control can never be over emphasized. Thus for survival of any oil cooperation, management need to embark on budget to effect proper planning and control. In this view, budgeting can be seen as a process of planning and control. Proper budgeting can never affect efficient plans of an organization without control. Control as it were is an important tool which must be priced to keep in check with the plans of the firms and for correction of any deviation from the stipulated plan of the organization in question.

EFFECTIVENESS OF PRICING POLICY AND PROFIT PLANNING IN NIGERIAN ORGANIZATIONS

CHAPTER ONE

INTRODUCTION

1.1 BACK GROUND OF THE STUDY

In modern economies, prices are generally expressed in units of some form of currency. Although, prices could be quoted as quantities of other goods and services (BARTER SYSTEM). Prices are sometimes quoted in terms of vouchers such as trading stamps. Price sometimes refers to the quantity of payment requested by a seller of goods or services rather than the actual payment amount.

EFFECT OF STRUCTURAL ADJUSTMENT PROGRAMME ON ACCOUNTING PRINCIPLES

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF STUDY

Before the “Structural Adjustment Programme (SAP)” can be clearly defined, one must have a better understanding of the situation into which it was introduced. At the conclusion of a Debate/Symposium on “Devaluation” held in 1982 at the Institute of International Affairs, the consensus emerged that the economic problem of Nigeria was structural.

The intention of SAP is to adjust the structure of the Nigerian economy, but what is the structure of the economy and why does it need adjustment? The relevant dictionary meaning of the word “structure” is “the arrangement or interrelation of all part of a whole”.

At the summary of overall economic level which the economist call “The macro level”, the structure f the economy is its composition as seen through the shares or proportion of the various component parts or economic aggregated, in the total sum of goods and services produced in a period usually a year.

Therefore, the structure of the economy is shown by the shares of the various economic sectors in the Gross Domestic Product (GDP). Just like any other theory, accountants have discovered that they need to make certain assumption before they can prepare financial statements. These assumptions, which underline the preparation of financial statements, are also known as principles, postulates, conventions, concepts, and standards etc. The origination from such concepts as entity, going-concern, periodicity realisation, matching, consistency and historical cost concept.

They have been described as the basic points of agreement upon which the preparation of financial statement are based. They act as filters in the process of preparing financial statement and therefore assist immensely in selecting data to be processed and also indicating the processing method and thereby affecting the final result.

Accounting Principles are usually rules and conventions, which have been adopted as a general guide to action by the accountancy profession. These principles are formulated in such a way that the practical details of accounting may differ greatly from one company to another. To ensure acceptance, an accounting principle must be useful in coping with a practical recording problem, it must be reasonably objective, that is, provide a similar answer in the hands of qualified practitioners, and it must be feasible, that is, it should not be expensive to apply.

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DEVELOPING EFFECTIVE STRATEGY FOR PENSION ADMINISTRATION IN THE NIGERIAN PUBLIC SECTOR

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The greatest challenge to government worldwide remains the issue relating to pension fund management. A financial analyst called Alexandra Forbes argues “Pension Management, world over, has become an increasingly great concern to most government and countries of the world”.

And coming to Nigeria, the country was guided by a number of pension regimes prior to the promulgation of the pension Act 2004, pension schemes in Nigeria had been bedeviled with many pitfalls. The public service operated an unfounded defined benefit schemes and the payment of retirement benefits were budgeted annually. The annual budgetary allocation for pension was often one of the most vulnerable items in budget implementation in even where budgetary provisions were made, inadequate and untimely release of fund resulted in delays and accumulation of arrears of payment of pension rights. It is then obvious that, the defined benefit scheme could not be sustained.

EFFECT OF MISREPRESENTATION OF INFORMATION IN THE FINANCIAL STATEMENTS

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The concept of misrepresentation of information in the financial statement tends to examine those items that can alter the financial affairs of on the financial concern (or an entity), audited by an auditor based on the financial statement presented by the manager on the basis of true and fair view.
The establishment or introduction of the joint stock company increased the supply of capital for commerce and industry. It was therefore, necessary for the owners of the company obviously known as shareholders to delegate some of their numbers to act as Board of Directors (BOD) to take care of daily activities of the business concern.

COMPARATIVE STUDY OF EXPENDITURE CONTROL METHODS IN GOVERNMENT AND PRIVATELY OWNED HOSPITALS

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Expenditure control or cost control is part of management control process, in every organisation. This process is very important to any organisation be it profit making organisation or non-profit making organisation. Thus, lack of this practice in any organisation will cause misapplication of cash in cash disbursement process and this will create a very big problem leading the organisation into deficit and at an extreme case, the organisation might wind up. Many researches have been conducted in the reason for winding up of companies and organisation in which lack of expenditure control process had found responsible.

COMPARATIVE ANALYSIS OF COMPUTERIZED ACCOUNTING SYSTEM AND MANUAL ACCOUNTING SYSTEM

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Accounting system according to an Italian monk, Luca Pacioli (2001), is the combination of personnel records and procedures that a business uses to meet its need for financial data. Financial accounting also encompasses the summary of information and presentation of periodic reports such as profit and loss statement and balance sheet. The historical firms of accounting were of different degree of sophistication according to the need and techniques of the time. This is why modern accounting is based on the double entry system and the recognition of the dual nature of each transaction and this gives a co-ordinate support for the control of all the transaction of a business.

CHALLENGES OF INTERNAL AUDIT FUNCTION IN THE NIGERIAN PUBLIC SECTOR

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Internal audit had been defined “as an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization”. Internal auditing is a process generally adopted towards ensuring and safeguarding of resources and promoting operational efficiency in organizations. The responsibilities for effective internal auditing normally rest on with the internal auditors who in turn rely a great deal on the soundness and effectiveness of internal control system.

BUDGETING AS AN INSTRUMENT OF INTERNAL CONTROL IN A MANUFACTURING ORGANIZATION

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

According to Enudu (1999), the business environment is characterized by a lot of uncertainties ranging from such factors as: Economic environment, political and legal factors, social environment, supply and demand forces, competition, consumers' attitude and technological changes.

A critical look at the performances of some of these manufacturing business organizations will reveal a lot of business failures as a result of lack of proper planning against these uncertainties.

According to Drury (2000), proper planning of business helps in reducing uncertainties thereby providing the management of these enterprises with a clear direction by determining their courses of actions in advance.

BUDGETING AND BUDGETARY CONTROL AS TOOLS FOR ACCOUNTABILITY IN GOVERNMENT PARASTATALS

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The efficiency and effectiveness of the operations of a business depends on the control available to management in almost every business organization, there are a number of activities going on at the same time such as producing, purchasing, distributing, selling and financing a product. These are interrelated in such a way that they affect the attainment of the organization goals.

The institution of cost and management accountant (ICMA) defined budget as a financial or quantitative statement prepared and approved prior to defined period of time of the policy to be pursed during the period for the purpose of attaining a given objectives. It may include income, expenditure and the employment capital.

ANALYSIS OF CREDIT MANAGEMENT IN THE BANKING INDUSTRY

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Credit management in our banking sector today has taken a different dimension from what it used to be. The banking industry has adopted a lot of strategies in checking credit management in order to stay in business. Thu the banking industry in Nigeria has lost large amount of money as a result of the turning source of credit exposure and taken interest rate position. Nigerian banks are being required in the market because of their competence to provide transaction efficiency, market knowledge and funding capability. To perform these roles, the banks act as the most important participants in their transaction process of which they use their own balance sheet to make it easier and making sure that their associated risk is absorbed.

ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR IN AN ORGANIZATION

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Auditing has existed as long as man has been required to account for their transactions. A famous example is in St. Mathew’s Gospel (Chapter 25) when the rich man went on a journey and delivered his goods to a servant to look after them while he was away. On his return, he asked each of these servants to account for the goods with which he had been entrusted. In the ancient ages, great land owners would not manage their own land, but would appoint stewards to manage their own land for them. The account of these land owners were checked by having them called out by those who gave them to those in authority (land owners) for hearing otherwise called stewardship accounting.

AUTOMATED FORENSIC AUDITING AND FRAUD CONTROL IN NIGERIA STUDY OF THE ECONOMIC AND FINANCIAL CRIMES COMMISSION

CHAPTER ONE

1.0 INTRODUCTION

1.1 Background to the Study

Wise Geek (2011) defines fraud as a deliberate misrepresentation that causes a form of monetary losses. All of these are usually required for an act to be considered fraud, if someone lied about his name.

United states legal (2011), defines fraud an international misrepresentation of material existing facts made by one person to another with the knowledge of its falsity and for the purpose of inducing the other person to act, and upon which the other person relies with resulting injuries or damages.

Fraud has been in existence from the beginning of creation, and the increase of fraud on daily basis brought about forensic auditing. Forensic auditing is defined as the activity that consist of gathering, verifying, processing, analyzing of and reporting of data in order to obtain facts and /or evidence in the area of legal of financial disputes and or irregularities including fraud and giving preventative advice. IFA (2011).

Fraud is an independent criminal offence, and it is the main phenomenon that gave birth to forensic auditing, especially those related to economic crime. These economic crimes are known to be an unpleasant fact and a disheartening issue in the heart of many organizations, and the control of it, is a concern for any organization that employs employees, accountants or other hired professional that have access to the organization’s income, receipts or funds.

Therefore, we are faced with the inescapable conclusion that forensic auditors are charged with the responsibility of controlling and preventing those fraudulent practices.

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