AUDITOR AND LAW’’CONCEPT AND IMPLICATIONS(A CASE STUDY OF FIRST BANK NIGERIA PLC. OKPARA AVENUE, ENUGU STATE)
ABSTRACT
This research project is designed to bring out the importance of audit to the effective working of the organization using First Bank Nigeria Plc Okpara Avenue, Enugu state.
In pursuant to this, data were collected by personal interview, questionnaires and through researcher’s observation. Secondary data were collected from journals, publications and related works. Also, findings showed that all the strategies for effective working operations are applicable in the case study. It was revealed that because of the laws guiding auditors, the attitude and perception of auditors to effective working operation in my case study was adequate.
Finally, based on these findings, various recommendations were made amongst which include, that for auditor’s work to be relied upon by other or for the work of auditors not to be subjected to any loss or damage, they should not accept gifts or packages, have personal relationship with clients and should carry out their duties in compliance with statutory requirements.
TABLE OF CONTENTS
TITLE PAGE
CERTIFICATION
DEDICATION
ACKNOWLEDGEMENT
ABSTRACT
LIST OF TABLES
TABLE OF CONTENTS
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF STUDY
1.2 HISTORY OF CASE STUDY
1.3 STATEMENT OF THE PROBLEM
1.4 OBJECTIVES OF STUDY
1.5 STATEMENT OF HYPOTHESIS
1.6 SIGNIFICANCE OF THE STUDY
1.7 SCOPE AND DELIMITATION OF THE STUDY
1.8 DEFINITION OF SOME RELEVANT TERMS
REFERENCES
CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 HISTORICAL BACKGROUND OF AUDITING
2.2 GENERAL AUDITING
2.3 DEFINITION OF AUDIT
2.4 TYPES OF AUDIT
2.5 WHO IS AN AUDITOR
2.6 THE GENERAL VIEW OF AUDITING
2.7 AUDITING THEORY
2.8 IMPORTANCE OF AUDITING TO THE COMPANY.
2.9 APPOINTMENT OF AUDITORS
2.9.1 REMUNERATION OF AUDITORS
2.9.2 REMOVAL OF AUDITORS
2.9.3 ENGAGEMENT LETTER
2.9.4 PURPOSE OF ENGAGEMENT LETTER
2.9.5 PRINCIPAL CONTENTS OF ENGAGEMENT LETTER
2.9.6 DUTIES AND RIGHTS OF AUDITORS
2.9.7 RIGHTS OF AUDITORS
2.9.8 RESIGNATION OF AUDITORS
2.9.9 SECTION 360 FURTHER PROVIDES THAT
2.10 AUDITORS LIABILITY
2.11 IMPLICATIONS OF THE LAW ON AUDITORS
2.11.1 POSITIVE IMPLICATIONS
2.11.2 NEGATIVE IMPLICATIONS
2.12 ACCOUNTING RECORDS
2.13 RESEASONABLE STANDARD OF CARE AND
SKILL IN CARRYING OUT HIS DUTIES
2.14 THE ROLE OF AUDITORS INA CORPORATE
ORGANISATION
2.15 WAYS IN WHICH THE LIABILITIES OF
AUDITORS CAN BE LIMITED
2.16 ICAN RULES TO GUARANTEE
INDEPENDENCE OF AUDITORS
2.17 CAMA 1990 TO GUARANTEE INDEPENDENCE
2.18 INVESTIGATIONS
2.18.1 STAGES AND PROCEDURES OF
AN INVESTIGATION
2.19 ACCOUNTING AND AUDITING STANDARDS
2.19.1 ACCOUNTING STANDARD
2.19.2 THE RELEVANCE OF ACCOUNTING
STANDARDS TO AUDITING
2.19.3 ADVANTAGES OF ACCOUNTING STANDARD
2.19.4 DISADVANTAGE OF ACCOUNTING STANDARD
2.20 AUDITING STANDARD AND GUIDELINES
2.20.1 STATEMENT OF AUDITING STANDARDS
REFERENCES
CHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLOGY
3.1 INTRODUCTION
3.2 SOURCES OF DATA
3.2.1 PRIMARY SOURCES OF DATA COLLECTION
3.2.2 SECONDARY SOURCES OF DATA COLLECTION
3.3 THE POPULATION OF STUDY
3.4 SAMPLE SIZE AND SAMPLING TECHNIQUE
3.4.1 SAMPLE SIZE
3.4.2 SAMPLE TECHNIQUE
3.5 METHODS OF DATA COLLECTION
3.6 PROCEDURES FOR PROCESSING COLLECTED DATA 59
CHAPTER FOUR
4.0 PRESENTATION AND ANALYSIS OF DATA
4.1 A BRIEF INTRODUCTION OF THE CHAPTER
4.2 GROUP RETURNS, RESPONDENTS,
CHARACTERISTICS AND CLASSIFICATION.
4.3 PRESENTATION AND ANALYSIS
OF RESEARCH QUESTIONS
4.4 TEST OF HYPOTHESIS
REFERENCES
CHAPTER FIVE
5.0 SUMMARY, CONCLUSION, AND
RECOMMENDATION
5.1 SUMMARY
5.2 CONCLUSION
5.3 RECOMMENDATIONS
BIBLIOGRAPHY
APPENDIX I
APPENDIX II
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AUDITOR AND LAW’’CONCEPT AND IMPLICATIONS(A CASE STUDY OF FIRST BANK NIGERIA PLC. OKPARA AVENUE, ENUGU STATE)