This research work was designed to study and investigate precisely the Role of Audit for the proper Accountability of Company’s Fund with special emphasis on Department of Petroleum Resources.
Prudent fund management requires that available resources be equitable allocated to all activities or proposals such that each ill not suffer under over allocation of funds. How efficient a manager is can be determined by how effective he can account for funds entrusted to his care.
It is expected that available management tools for the purpose of proper accountability be adopted or used by administrators in the discharge of their administrative responsibilities. Audit which is mostly used as the last resort of company’s managers need to be enforced by any organization to enable it evaluate performance and deviation.
Data for the study was collected form both the primary and secondary sources. The questionnaire method was used to collect data. Forty-three (43) respondents were selected using the stratified random sampling techniques.
The simple percentage was used in the presentation of data, while the chi-square was used to test the hypothesis.
The study revealed that:
(1) The internal control system is weak.
(2) The accounting system is weak.
(3) Payments are sometimes influenced by top management.
(4) The occasional audits are mainly concentrated on financial matters.
The study finally proffered solution by recommending ways through which organization could achieve their audit objectives.
Title page i
Approval page ii
Dedication iii
Acknowledgement iv
Abstract vi
Table of contents viii
CHAPTER ONE
1.1 General background of the study 1
1.2 Statement of problem 7
1.3 Objective of the study 10
1.4 Significance of the study 11
1.5 Scope and limitation of the study 12
1.6 Brief history of the Department of Petroleum Resources 12
1.7 The functions of Department of Petroleum Resources 15
1.8 Statement of hypotheses 17
CHAPTER TWO
LITERATURE REVIEW 18
2.1 Internal Audit 20
2.2 System auditing 23
2.3 Accountability 30
2.4 The auditing interest in client accounting system 31
2.5 A documentary evidence of an audited account management 32
2.6 Management 35
2.7 System management 40
2.8 Financial management 41
2.9 Aids to proper accountability of fund 43
2.10 Planning 45
2.11 Control 48
2.12 Organizing 48
CHAPTER THREE
Research Design and Methodology 50
3.1 Sources of data 50
3.2 Research Instruments used 51
3.3 Determination of sampling size 52
3.4 Method of data analysis 52
CHAPTER FOUR
Presentation and analysis of data 55
4.1 Testing the hypotheses 66
CHAPTER FIVE
Summary, conclusion, findings and recommendation 72
5.1 Summary 72
5.2 Conclusion 74
5.3 Recommendation 76
Bibliography 78
Appendix 81
Role Of Audit For The Proper Accountability Of Company’s Funds. (n.d.). UniTopics. https://www.unitopics.com/project/material/role-of-audit-for-the-proper-accountability-of-companys-funds/
“Role Of Audit For The Proper Accountability Of Company’s Funds.” UniTopics, https://www.unitopics.com/project/material/role-of-audit-for-the-proper-accountability-of-companys-funds/. Accessed 19 September 2024.
“Role Of Audit For The Proper Accountability Of Company’s Funds.” UniTopics, Accessed September 19, 2024. https://www.unitopics.com/project/material/role-of-audit-for-the-proper-accountability-of-companys-funds/
Here’s a typical structure for Role Of Audit For The Proper Accountability Of Company’s Funds research projects:
- The title page of Role Of Audit For The Proper Accountability Of Company’s Funds should include the project title, your name, institution, and date.
- The abstract of Role Of Audit For The Proper Accountability Of Company’s Funds should be a summary of around 150-250 words and should highlight the main objectives, methods, results, and conclusions.
- The introduction of Role Of Audit For The Proper Accountability Of Company’s Funds should provide the background information, outline the research problem, and state the objectives and significance of the study.
- Review existing research related to Role Of Audit For The Proper Accountability Of Company’s Funds, identifying gaps the study aims to fill.
- The methodology section of Role Of Audit For The Proper Accountability Of Company’s Funds should describe the research design, data collection methods, and analytical techniques used.
- Present the findings of the Role Of Audit For The Proper Accountability Of Company’s Funds research study using tables, charts, and graphs to illustrate key points.
- Interpret Role Of Audit For The Proper Accountability Of Company’s Funds results, discussing their implications, limitations, and potential areas for future research.
- Summarize the main findings of the Role Of Audit For The Proper Accountability Of Company’s Funds study and restate its significance.
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