Description
ABSTRACT
This study was to assess the significance external auditor‟s in the examination of financial statement of first Bank of Nigeria Plc., Enugu. The banking sector in Nigeria and elsewhere in recent times have become so diversified, challenging, highly competitive and has been characterized by persistent, fraud, errors and misappropriation of funds in the bank, the impact of which has undoubtedly shaken the whole economy of the nation. For this work to be effectively and efficiently carried out the use of primary and secondary methods was adopted for the collection of data, where in primary data, the researcher designed and advanced questionnaires to first Bank Enugu for collection of primary data while secondary data was gotten from textbooks, journals, manuals lecture notes, etc. the data collected from the questionnaire was analyzed in tables with simple percentage and interpreted for the understanding of the study the formulated hypothesis were tested using Z – test formula.
The result of the study shows that, external auditors examination of first banks financial statement or records aids in checking and monitoring as well as stopping frauds errors, misappropriation of funds in the Banks. Recommendations were made to the management of First Bank of Nigeria Plc, Abuja.
TABLE OF CONTENTS
i Approval Page
ii Dedication
iii Acknowledgments
iv Abstract
CHAPTER ONE:
1.0 INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Research Hypotheses
1.6 Significance of the Study
1.7 Scope/ Limitations of the Study
1.8 Definition of Terms 7 Reference
CHAPTER TWO
2.0 REVIEW OF RELATED LITERATURE
2.1 The Concept of Auditing
2.2 Extent of an Auditors investigation Responsibilities of Audit organizations
2.3 Responsibilities of Audit Organizations
2.4 Evaluating the Significance of an External Auditors
2.5 External auditors Role in Detecting Fraud
2.5.1 Types of Fraud
2.5.2 Weakness in the Internal Control System and Lack of Co-operation by Client Staff
2.5.3 Lack of Monitoring System in the Organization
2.5.4 Unexplained Discrepancies in Accounts
2.5.5 Tolerance of Accounting Errors and Differences
2.5.6 Document of Unique Reliance on the Staff
2.2.7 Chaotic Accounting System
2.6 External Auditors Role in Ensuring the Keeping of Proper Accounts
2.7 The Significance of External Auditors in Reporting to the Shareholders (Public Limited Companies)
Reference
CHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLOGY
3.1 Research Design
3.2 Sources of Data
3.3 Research Instrument
3.4 Reliability/Validity of Research Instrument
3.5 Population
3.6 Sample Size and Sample Techniques
3.7 Administration of Research Instrument
3.8 Method of Data Analysis
3.9 Decision criterion for Validation of Hypothesis
CHAPTER FOUR
4.1 Data Presentation and Analysis
4.2 Testing of Hypothesis
CHAPTER FIVE
5.0 SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendations
Bibliography
Appendix