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Auditing And Fraud Controlling In Government Sector
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1.5 RESEARCH HYPOTHESES
The following hypotheses were postulated as a guide to the researcher
Hypothesis one
Ho: Auditing cannot truly prevent fraud in public enterprises
Hi: Auditing can prevent fraud in Government sectors
Hypothesis two
Ho: Effective auditing does not control fraud.
Hi: Effective Auditing controls fraud.
1.6 THE SCOPE AND LIMITATION OF THE STUDY
Fraud occurs in Government sectors with reckless abandon. This study is
to cover areas as it concerns auditors (both internal and external) and
fraud prevention. The case study for this research has also been
confined to the Imo State University Owerri, whose image and status as
one of the main strength of the communication in Nigerian economy has
made it target point for numerous fraudster.
From the
indication the research anticipates some principal limitations to the
study. Some of these limitations are:-
Time
The time
required for the completion of the study is limited and not long enough
to enable the researcher carryout an elaborate study on the topic
Finance
The researcher has limited financial resources to enable him expand the area of the study.
1.7 DEFINITION OF TERMS
Audit
Official examination of books of records to see that they are in order
Auditing
A process of examination of accounts of books of records of an
organization/entity in order to express an opinion as to whether the
records or the accounts so prepared by the organization show a true and
fair view about the company’s position.
Bureaucratic
A situation
whereby employees stick to much rules, carried on according to official
roles and habits. Negating tactical decisions that would have enhance
organization overall performance.
Book keeping
This is the
book whereby an organization record all the transactions of the company
upon which the auditors check to evaluate her performance.
Creditors
These are set of people who lend money/fund to an organization for the
purpose of running such an organization and are to be settled
immediately after mortgage assets in terms of liquidation
Directors
A director is defined by section 650 as including any person occupying
the position of director by whatever name called. He is the highest body
of people governing a company.
Exploit
Use available loopholes discovered selfishly to the detriment of the entity of organizational resources
Share holders
This means a holder of share in a company. However, in a company having
share capital members generally will be allotted shares, which is to
measure the financial interest such as member as in the company.
Fraud
Irregularities
involving criminal deception to gain an unjust or illegal advantage. It
may be perpetrated with the intention of making money or obtaining good
for it maybe perpetrated when a person deceive others by pretending to
have abilities or skills that he does not really have.
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ABSRACT - [ Total Page(s): 1 ]In recent years the importance of good corporate governance has received significant public and regulatory attention. A crucial part of an entity’s corporate governance is its internal audit function. At the same time, there has been significant public concern about the level of fraud within organizations. The purpose of this study is to assess whether organizations with an internal audit function are more likely to detect fraud than those without.the technique to be employed in testing t ... Continue reading---
