AUDITING AS AN AID TO ACCOUNTABILITY ON THE PUBLIC SECTOR

(A CASE STUDY OF UNION BANK PLC IN ENUGU STATE)

By

ONU JULIUS TOCHUKWU AC/PTE/N2001/004

Presented To

Accountancy Department

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ABSTRACT

Business organizations are economic agents, which have certain objectives to achieve. Primary among them is profit, but however, thus primary objectives might not materialize as a result of increasing the nature of fraud in the financial organization, which is as a result of perceived neglect either real or imaginary by the companies or by any of financial organisation concerned. The nature of fraud in the financial organization have forced the companies to combine both their primary objective of profit making with audit responsibilities is faced with such problems:

The purpose of this study is to examine the auditing as an aid to account ability on the public sector of Union Bank as it relates to the banking institution. Therefore this study will be specially limited to Union Bank Plc and other banking organisation. However, the general operations of Union Bank will be covered.

TABLE OF CONTENT

Title page i

Certification ii

Dedication iii

Acknowledgment iv

Table of contents v

CHAPTER ONE: INTRODUCTION

1.1 Background of the study 1

1.2 Statement of problems 3

1.3 Objective of the study 4

1.4 Scope of the study 5

1.5 Research question 5

1.6 Definition of terms 6

1.7 Significance of the study 8

CHAPTER TWO:

LITERATURE REVIEW 10

2.1 Brief history of Union Bank Plc Nigeria. 10

2.2 The meaning of Public Sector 12

2.3 The Role of Auditors (externals) as aid to accountability 12

2.4 The Problems Facing Auditors 14

2.5 The Role of Auditor Vis fraud detection and prevention 15

2.6 Fraud prevention 18

2.7 Effectiveness of Auditing Reports 20

2.8 Summary of the related reviewed literature 21

CHAPTER THREE

RESEARCH METHODOLOGY 23

3.1 Research Design 23

3.2 Area of study 24

3.3 Population of the study 24

3.4 Sample and sampling technique 25

3.5 Instrumentation 25

3.6 Validity of instrument 25

3.7 Reliability of instrument 26

3.8 Method of data analysis 26

3.9 Method of data collection 27

CHAPTER FOUR:

DATA PRESENTATION AND RESULTS 28

Summary of results/findings 39

CHAPTER FIVE:

DISCUSSION OF RESULT 41

5.1 Discussion of findings 41

5.2 Conclusions 43

5.3 Recommendation 44

5.4 Suggestion for further research 46

5.5 Limitation of the study 47

References 48