The Relevance of Statutory Audit in Government Establishment (A Case Study of Kwara State Independent Electoral Commission Kwasiec)

ABSTRACT

This project work were be written on the reference of statutory audit in government establishment. Since an organization is an integrated system of activities in achieving some aims or objectives, it is therefore necessary to involve some plans, processes for the effectiveness and efficiency of the organisation. Due to complexity nature of business in terms of size growth and development nowadays make personal supervision by owners because in effective. Hence most business are delegated into the hands of the management who must render report to the owners or providers of capital for the business.

In order to safeguard the interest of the providers of capital and other shareholders in the business organization, an independent examination of accounts is necessary and this brings about the work of external auditor to an organization specifically, it is obvious that poor management and sharp practical are attributed 85 any government establishment and to wipe off this, the work of external auditors is relevant to check and examine the financial records and form an opinion as to the truth and fairness of the book of account.

In an organization where auditing work functions very effective, most of the staff of such organization focus that the auditors interferes two much in their affairs and some who are devoted accept it as the only  way to fornicate them and expose the treacherous.

However, the focus of this research will identify the relevance of the statutory audit in government establishment and provide a lasting solution to the problems and challenges faced by the statutory auditor in examing the book of account of any government establishment.

The data will be collected through primary and secondary datas. Primary data will be collected from the staff of the kwara state independent electoral commission (KWASIEC) responsible for administration of financial records through personal interview. The secondary data will be collected through reviewing of past project textbook, the on the relevance of statuary audit in government establishment.

The method to be used in analyzing the data will be descriptive method involves the use of table while the inferential statistics method involved the use of datas

The sample of 80 respondents are to be used and the method of sample will be random sampling.

This study will be carefully planed to look into the significance, important and relevance of statutory audit in business organisation especially or specifically the government establishment the research has been divided into five chapters for easy presentation of fact and figure gathered.

Chapter one contain introduction, statement of research problem, objective of the study, significance of the study, research question, organization and plan of the study and also definition of term use.

Chapter two contain, literature review, origin and development of auditing , main purpose of auditing, availability of a statutory audit, relationship between internal and statutory auditor right and duties statutory auditor.

Chapter three contain, research methodology, introduction research designed, sample design and sampling technicians, method of data collection, producer of data collection, problems encountered, historical background of independent National electoral commission kwara state.

Chapter four contain, presentation and analysis of data, function of statutory audit making of returns accountability keeping of accounting records, preparation of financial statement.

Chapter five contains, summary, conclusion, recommendation, limitation of the study and bibliography.

TABLE OF CONTENTS

Title page                                                                                    i

Certification                                                                                          ii

Dedication                                                                                   iii

Acknowledgement                                                                      iv-vi

Abstract                                                                                      vii-ix

Table of contents                                                                        x-xi

CHAPTER ONE

1.1     Background of the study                                                  1-4

1.2     Statement of the problem                                                 4-5

1.3     Objective of the study                                                       5-6

1.4     Significance of the study                                                  6-7

1.5     Research question                                                            7-8

1.6     Organisation and plan of the study                                 8-9

1.7     Definition of terms                                                            9-10

CHAPTER TWO

2.1     Origin and development of auditing                                11-13

2.2     Main purpose of auditing

2.3     Qualities required of a statutory auditor                         13-15

2.4     Relationship between internal auditor and statutory
auditor.                                                                             17-21

          Reference                                                                          21

CHAPTER THREE

3.1     Historical background of the case study                         22-25

3.2     Research design                                                                25-26

3.3     Sample design and sampling techniques                        26-27

3.4     Method of data collection                                                 27-28

3.5     Procedure of data collection                                             31-32

3.6     Method of data analysis                                                   31

CHAPTER FOUR

4.1     Introductions                                                                    33-34

4.2     Presentation and data analysis according to research question                                                                            34-43

4.3     Presentation and data analysis according to test of hypothesis                                                                             43

4.4     Generalizations                                                                49

CHAPTER FIVE

5.1     Summary                                                                          50

5.2     Conclusion                                                                        52

5.3     Recommendation                                                              53

5.4     Limitation of the study                                                     57

          Bibliography                                                                     60