ABSTRACT
This research study has examined all
possible areas of the study was conducted on Auditing procedure and internal
control system with reference to Union Bank of Nigeria Plc. However, the areas
where the research revolves around are not limited to the scope of the
study. Audition procedure and internal
control system is very important in every organization to identify the
loopholes and lapses to proffer lasting solution. Data was analyzed using
descriptive and chi-square statistics for test of hypotheses. The five point likert scale will be used
analyze the data for the study. The
research questions will be analyzed using the percentage analysis. For hypotheses testing, chi-square statistics
will be used to test the individual hypothesis formulated. Its also important to posit that internal
audit ensure detention of financial fraud and irregularities. In the course of
the research work, its discovered that organization with effective internal
audit system are more likely to affect fraud than organizations with no such
system and function. Adequate internal audit system must be established in the
organization to ensure that activities of the organization are carried out
effectively and should be provision of adequate training programme to the staff
of Lagos State University. Also, qualified and competent staff should be
employed in other to ensure efficient operation.
TABLE
OF CONTENT
PAGE
TITLE PAGE I
CERTIFICATE II
DEDICATION III
ACKNOWLEDGEMENT IV
ABSTRACT V
TABLE OF CONTENT VI-VII
CHAPTER ONE: INTRODUCTION
1.1
BACKGROUND
TO THE STUDY 1
1.2 STATEMENT
OF PROBLEMS 3
1.3 OBJECTIVE
OF STUDY 5
1.4 RESEARCH
QUESTIONS 6
1.5 SIGNIFICANCE
OF THE STUDY 6
1.6 RESEARCH
HYPOTHESES 7
1.7 SCOPE
AND LIMITATION OF THE STUDY 8
1.8 DEFINITION
OF TERMS 8
REFERENCE 10
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 INTRODUCTION 11
2.2 HISTORICAL
DEVELOPMENT OF AUDITING 11
2.3 HISTORICAL
DEVELOPMENT OF INTERNAL AUDITING 13
2.4
DEFINITION/MEANING
OF AUDITING AND INTERNAL CONTROL SYSTEM 15
2.2 INTERNAL
CONTROL SYSTEM 17
2.5 PURPOSE
OF INTERNAL CONTROL SYSTEM 19
2.6 OBJECTIVE
AND SCOPE OF INTERNAL CONTROL
SYSTEM 21
2.7
AN
OVERVIEW OF UNION BANK OF NIGERIA 22
2.8
EVALUATION 25
2.9
VERIFICATION 26
2.10 COMPLIANCE 28
2.11 PROFESSIONAL QUALIFICATION AND
QUALITIES
AND AUDITOR 29
2.12 THE POSITION OF THE INTERNAL COMPANY
ORGANIZATION 31
2.13 AUTHORITY 31
2.14 RESPONSIBILITY 32
2.15 INDEPENDENCE 33
2.16 MEASURING THE IMPORTANT OF AN
INTERNAL
AUDITOR 33
2.17 INTERNAL AUDIT REPORTS 34
REFERENCE 36
CHAPTER THREE: RESEARCH METHODOLOGY
3.0
INTRODUCTION 37
3.1
RESEARCH
DESIGN 37
3.2
RE-STATEMENT OF RESEARCH QUESTIONS 38
3.3 RESEARCH
HYPOTHESES 38
3.4 POPULATION
OF THE STUDY 39
3.5 SAMPLE
AND SAMPLING TECHNIQUES 39
3.6 RESEARCH INSTRUMENTS 40
3.7
VALIDATION OF THE INSTRUMENT 40
3.8
RELIBILITY OF THE INSTRUMENT 40
3.9
METHOD OF DATA ANALYSIS 41
REFERENCE 42
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND
INTERPRETATION
4.1 INTRODUCTION 43
4.2 SUMMARY OF
SOCIO-DEMOGRAPHIC
CHARACTERISTICS 43
4.3 SECTION B; INTERNAL CONTROL EFFECTIVENESS 60
4.4 TESTING AND ANALYSIS
OF HYPOTHESIS 61
CHAPTER FIVE: SUMMARY, CONCLUSIONS AND
RECOMMEDATIONS
5.1
SUMMARY
OF FINDINGS 65
5.2 CONCLUSIONS
66
5.3 RECOMMENDATIONS
67
5.4 SUGGESTION FOR
FURTHER STUDIES 68
QUESTIONNAIRE 69