ABSTRACT
This research work highlights the authors effort in finding out the ways internal audit is used in promoting sound corporate governance in public enterprises.
The entire work is divided into five chapters, chapter one is an introductory analysis of the topic, then the background of the study, significance, scope and limitation, the purpose and hypothesis organizational objectives
The second chapter i.e chapter two dealt with the Literature Review and Theoretical consideration. Here related past works were reviews and the theoretical consideration on the present study was also brought into focus. As well as scope and nature of internal audit and the result of auditing management.
Then, chapter three contains an explanation of how and where the needed information for the study was obtained and how the sample size was determined and the limitations encountered in the course of conducting the research. It also contains the method of investigation.
Chapter four dealt with the presentation and analysis of data collected during the field survey, after which the postulated hypotheses were tested.
Lastly, chapter five makes up the summary, conclusion and recommendations.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The’ term management was coined from the Italian word “managgiare” which connotes ‘to train horses’. It was originally used to indicate the process of training or coordinating sporting activities. Later its application was extended to the operations of government and businesses. Akpala (2001) describes management as the process of combining and utilizing organization’s inputs (men, materials, money and’ machine) by the mix of planning, organizing, directing and controlling activities for the purpose of producing outputs (usually goods and services), desired by the customers, so that the organization’s objectives are accomplished. In the definition given above, it is worthy of inference that control is an essential veritable control machinery for management. The term control was rightly described by Lucey (1990) as “a systematic effort by business management to compare performance with predetermined standards, plans or objectives to ensure that performance is in line with standard and also to take remedial action required so that human and other corporate resources are employed in the most efficient and profitable manner. Control system is very essential in any organization be it a private or a public establishment/sector in order to check how effective and efficient they are in maximizing the use of resources. One of the measures commonly used to minimize wastage and guide plans to their eventual accomplishment is Internal Auditing. Embezzlement, misappropriations, fraud and wastage of resources.
