Description
INTRODUCTION
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. Auditing can be defined as the process of an independent examination of vouchers, internal control system and financial statements of an organization by a person or a group of persons called auditors so that the auditors can form and express opinion whether the vouchers, internal control system and financial statement, give a true and fair view of the organization. Auditing is carried in both the public and private sectors. In the case of public sector, there are two foremost types of audit that are carried out namely: Regulatory audit and financial audit and the third type is value for money (VFM) audit which is yet to be fully integrated in most part of the world. According to Bechberger (2007), it is observed in the past decades that in order to fight global corruption and strengthening transparency and accountability in public sector organization across the world, public sector organizations are now under pressure from the public to integrate value for money principles in their management practices. Value for money according to National Audit Office (2007) means providing a service or a product in a way which is economical efficient and effective. Value for money audit is therefore, the type of audit that is used to asses the value for money system in any organization. It is an independent examination of the criteria (economy, efficiency and effectiveness) for the value for money to confirm that the organizations available resources are used wholly, necessarily, reasonably and exclusively so as to maximize progress towards the chosen objective.
CHAPTER ONE
Introduction
1.1 Background Of The Study
1.2 Statement Of Problem
1.3 Objective Of Study
1.4 Research Hypothesis
1.5 Research Questions
1.6 Significance Of Study
1.7 Scope Of Study
1.8 Limitation Of Study
1.9 Definition Of Terms
CHAPTER TWO
Review Of Related Literature
2.1 Introduction
2.2.1 Development Of The Modern Audit
2.2.2 Dramatis Personae In Audit
2.2.3 Need For Audit
2.2.4 Objectives Of Auditing
2.2.5 Merits Of Auditing
2.2.6 Demerits Of Auditing
2.2.7 Users Of Audited Statement
2.3 The Public Sector
2.3.1 Definition Of Public Sector
2.4 Historical Background Of Value For Money Audit
2.5 Concepts Of Value For Money Audit
2.5.1 Characteristics Of Value For Money Audit
2.5.2 Types Of Value For Money Audits
2.5.4 The Role Of Value For Money Audit
2.6 Standard In The Application Of Value For Money Audit
2.8 Audit Of Corporations And Parastatals
CHAPTER THREE
3.0 Research Methodology
3.1 Research Design
3.2 Sources Of Data
3.2.2 Secondary Source Of Data
3.3 Method Of Data Analysis
3.4 Area Of The Study
3.5 Population Of The Study
3.6 Determination Of Sample Size
3.7 Reliability Test
3.8 Validity Test
3.9 Techniques For Data Analysis
CHAPTER FOUR
Presentation, Analysis And Interpretation Of Data
4.0 Introduction
4.1 Presentation Of Data
4.2 Analysis Of Data
4.3 Discussion Of The Findings
CHAPTER FIVE
Summary And Findings, Conclusions And Recommendations.
5.0 Summary Of Findings:
5.1 Conclusion
5.2 Recommendations
Bibliography Books
Appendix Research Questionnaire