THE IMPACT OF INTERNAL AUDITING ON CORPORATE MANAGEMENT (A CASE STUDY OF FALCOM NIGERIA LIMITED,PORT HARCOURT, RIVERS STATE) ABSTRACT
This study on “The impact of internal auditing on corporate
management” was carried out with reference to Falcom Nig. Ltd. It was
discovered in this study that internal audit report most especially to management
poses a serious threat to their decision if improper and inaccurate report is
given to management.
Some problems gave rise to this research work and it
includes amongst others, misinterpretation of auditors report by management and
other company heads, hindrance to financial data, embezzlement of funds and
inadequate training of internal auditors which give rise to incompetence in the
discharge of auditors duties and mismanagement of funds by corporate
management.
Questionnaire was computed in tabular form and analysis of
data was used in order to gather the necessary information needed.
The result of the analysis showed that internal auditing has
great benefit and impact on corporate management, it helps in minimization of
expenses, avoidance of fraud and accurate financial records that are inline
with standard.
Adequate training of internal audit staff, non interference
in their (internal auditors) duties, free access to all financial books and
records can curb the problems of internal auditing and lastly management should
adhere to the advisory, reporting and testing role of internal auditors so that
the beneficial impact of internal audit would be greatly achieved.
TABLE OF CONTENTS
TITLE PAGE……………………………………………………i
APPROVAL PAGE————————————–ii
DEDICATION………………………………………………….iii
ACKNOWLEDGEMENT———————————iv
ABSTRACT ———————————————v
TABLE OF CONTENTS———————————vii
CHAPTER ONE
Introduction———————————————1
1.1Background of the Study———————————1
1.4 Statement of the Problem ——————————-3
1.2 Objectives of the Study———————————-1
1.3 Research Questions————————————–2
1.5 significance of the study
1.5 Scope of the Study—————————————4
1.6 Limitation of the Study———————————–4
1.7 Definition of Terms—————————————-5
CHAPTER TWO
Literature Review—————————————-8
Historical Background of Research Problem——8
Concept of the impact of Internal auditing on
Corporate
Management————————-10
Purpose of Internal Auditing———————-12
Problems associated with Internal auditing
on Corporate
Management ———————–14
Essential Features of Internal auditing ———-19
Areas Where Internal Auditing is Usually Useful-20
CHAPTER THREE
Research design and Methodology———————23
Introduction—————————————-23
Research design ———————————-24
Sources/methods of Data collection————-26
Population and sample size———————-24
Sampling technique ——————————22
Methodology—————————————25
CHAPTER FOUR
Presentation and analysis of Data———————-27
Introduction—————————————-27
Analysis of Data according to Research Question28
Analysis of Data ———————————39
Interpretation of Results————————-41
CHAPTER FIVE
Summary, Conclusion and Recommendation———43
Summary of Findings—————————–43
Conclusion—————————————-44
Recommendation———————————45
Area for Further Study—————————46
Bibliography————————————–47
Appendix
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE
STUDY
The term audit is defined from the Latin word “audio”
meaning to hear. The origin of an audit dated back from ancient times when the
land owners allowed tenants farmers to work on their farm while the land owners
themselves does not involve in the business of farming. The land owners relied
on an overseer who listened to the account of the stewardship given by the tenants
of the farm. According to (Johnson 1002,63) an audit is the independent
examination and expression of opinion on the financial statement of an
enterprise by an appointed auditor in pursuance of that with any relevant
statutory obligation.
OBJECTIVE OF THE STUDY
The objective of the research work includes the following;
a. To find out the impact of internal auditing on corporate
management of Falcom Nig. Ltd.
b. To know how lack of information in Falcom Nig. Ltd
affects the internal audit work.
c. To determine the extent to which the independent of the
internal audit work is being impaired.
d. To ascertain whether internal auditing is an instrument
for effective management.
A Research proposal for the impact of internal auditing on corporate management (a case study of falcom nigeria limited,port harcourt, rivers state):
Reviews: A Review on the impact of internal auditing on corporate management (a case study of falcom nigeria limited,port harcourt, rivers state), impact, internal, auditing project topics, researchcub.info, project topic, list of project topics, research project topics, journals, books, Academic writer.
This study on “The impact of internal auditing on corporate management” was carried out with reference to Falcom Nig. Ltd. It was discovered in this study that internal audit report most especially to management poses a serious threat to their decision if improper and inaccurate report is given to management.
Some problems gave rise to this research work and it includes amongst others, misinterpretation of auditors report by management and other company heads, hindrance to financial data, embezzlement of funds and inadequate training of internal auditors which give rise to incompetence in the discharge of auditors duties and mismanagement of funds by corporate management.
Questionnaire was computed in tabular form and analysis of data was used in order to gather the necessary information needed.
The result of the analysis showed that internal auditing has great benefit and impact on corporate management, it helps in minimization of expenses, avoidance of fraud and accurate financial records that are inline with standard.
Adequate training of internal audit staff, non interference in their (internal auditors) duties, free access to all financial books and records can curb the problems of internal auditing and lastly management should adhere to the advisory, reporting and testing role of internal auditors so that the beneficial impact of internal audit would be greatly achieved... accounting project topics
THE IMPACT OF INTERNAL AUDITING ON CORPORATE MANAGEMENT (A CASE STUDY OF FALCOM NIGERIA LIMITED,PORT HARCOURT, RIVERS STATE)