THE ROLE OF STATUTORY AUDITOR IN CONTROLLING FRAUDS IN GOVERNMENT OWNED ESTABLISHMENT

By

AMADI BRIGHT CHINEMERE AC/N2002/176

Presented To

Department of Accountancy

This topic that is being treated (The role of a statutory auditor in controlling fraud in government owned establishments) is very important to our present economic condition if people will blend with the results and findings of this research work.

In the chapters of this project, it is clear that an auditor (statutory) is very important in all government establishments. This is because the Nigeria citizens see government properties as â€�“Nobody’s propertyâ€Â� the trend now is that they perpetrate fraud regularly with the above mentioned motive in the back of their minds.
The auditor is just an impartial critic and observer, he is a â€�“watchdogâ€Â� and not a â€�“blood houndâ€Â� He displays all the skills and care which is expected of him as a professional.

The view of other auditors about the topic were also examined. The role of a statutory auditors in controlling fraud is a vast topic which has been dealt with by many professionals in different fields and vocations. The work of a statutory auditor is backed up with the provisions of the company and allied matters decree (CAMD) 1990. This means that the auditor has legal rules to follow in carrying out his work. It is compulsory for all government establishments under the provision of the CAMD 1990 or the statute edit of creation to audit their accounts and other financial statement at the end of every financial year.

In summary, the role of a statutory auditor is vital and indispensable in government owned establishments so as to enable sanity and fairness in operations of the government officials and their subordinates.
 

COVER PAGE                                I
TITLE PAGE                                II
CERTIFICATION                                III
DEDICATION                                VI
ACKNOWLEDGMENT                            V
ABSTRACT                                VII
TABLE OF CONTENT                            VIII

CHAPTER ONE: INTRODUCTION
1.1    Background of the study                    1
1.2    Statement of problem                        5
1.3    Objectives of the study                        6
1.4    Significance of the study                    8
1.5    Scope and limitation of the study                10

CHAPTER TWO: LITERATURE REVIEW
2.1    Origin of Auditing                            12
2.2    Auditing defined                             14
2.3    Independence of Auditors                    16
2.4    Who is an Auditor                        17
2.5    Duties of an Auditor                        19
2.6    Auditors report                            22
2.7    Fraud error and irregularities defined            26
2.8    Prevention of fraud                        27

CHAPTER THREE: CONCLUSION AND RECOMMENDATION
3.1    Summary of findings                        32
3.2    Conclusion                                33
3.3    Recommendation                         34
Bibliography.                            38