The Effect of Auditing in the Development of Nigerian Economy
CHAPTER ONE
Objectives Of The Study
Having a clearly defined aims and objectives plays a significant role in any research work. Owing to that, the following will be the aims and objectives of this project.
- To assess the effects of auditors in the development of Nigerian economy;
- To assess the auditors efficiency despite the legal restriction here and there;
- Functions or roles of auditors – the societal view point, since it is now obvious that auditors play a very significant role in the development of the country economy as regards the effective management of available resources.
- To highlight the significance and indispensability of auditing and auditors to any economically progressive aspirant nation;
- To kick against the misconception that auditor collude with fraudsters to defraud. And that company’s spending on auditors is a necessary evil thereby wasteful.
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
This chapter will be looking into noble profession called “Auditing” the bodies that enhance it fall professional the roles challenges and it relevance in an economy.
The Accountancy Profession
Some of the world just document dated from 5000 B.C even then the need to account for holding of wealth prompted the development of a form of writing offered to as scripts. The temple priests of summer operated a tax system that brought under control vast stock of gains animals an estate. It was necessary for these priests to develop accounting method of:
- Maintain managerial of collection loan repayment and other transaction
- Given an account of their management over those holdings another writer has described in detail some of these accounting records. He notes daily summary where then collected into weekly summaries and so on to early and even multi yearly summarizes (Raymold et al, 1981).
The Egyptian civilization covering a broad span from about 5000 B.C to 5250 BC is described as one in which great construction project were completed investing the labour if thousands of peoples. The operation of large scale transportation of building material out. This operation arose a need for an information system to keep details of transaction both businesses and government affairs.
In Babylonia textile mills in existence about 600 BC production control record were kept and woman work were usually paid base upon the quality of production. In 1949 an Italian man Luca Pacioli included a section on book-keeping in one mathematics textbook. This was the first known printed description of double entry book keeping.
By the 1700s accountant were organized as financial adviser in 19th century one seen the emergence of accountant a business adviser as were frequently invited to look into financial problems.
The advanced learner dictionary by Horn by defined accountancy as a profession of an accountant. It also fines accounting statement of money paid or received on goods and services.
A more attentive definition as the violation of profession given by Mensah (1997). He gave his own definition as the violation of profession accountants that deals with keeping of records and interpretation of financial and economic information of an enterprise or organization therefore accountancy deals with the preparation of financial statement.
According to him accounting is the private of gathering, classifying, summarizing, recording of financial and economic data chronologically order in accordance with he laid down procedure for decision making by the user of information.
CHAPTER THREE
RESEARCH METHODOLOGY
Introduction
In this chapter, we will describe how the study will be carried out.
Research design
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
Research settings
This study will be carried out in Kwara state, Nigeria.
Sources of Data
The data for this study will be generated from two main sources; Primary sources and secondary sources. The primary sources will include questionnaire, interviews and observation. The secondary sources will include journals, bulletins, textbooks and the internet.
Population of the study
A study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitute of individuals or elements that are homogeneous in description (Udoyen, 2019). The population consist of representative of business men and women in Ilorin civil servants, lecturers and students of Kwara State Polytechnic and Institute of Chartered Accountant of Nigeria which will serve as a case study.
CHAPTER FOUR
Method of Data Analysis
The study will employ the simple percentage model in analyzing and interpreting the responses from the study participants while the hypothesis will be tested using chi-square.
Ethical consideration
The study was approved by the Project Committee of the Department. Informed consent was obtained from all study participants before they were enrolled in the study. Permission was sought from the relevant authorities to carry out the study. Date to visit the place of study for questionnaire distribution was put in place in advance.
REFERENCES
- Anao A.R (1993): An interdiction to financial accounting. (3rd edition) Lagos; Longman Nigeria limited.
- Ayodele Asaolu (1995) Modern Book keeping and accounts. (2nd edition) Ibadan; Gbabaks publishers limited.
- Danglas Garbourt (1984) Carte advanced account (7th Edition) London: pitman publications inc.
- Etuk-Udoh J.S (1979) Principles of account for West Africa book 2 and 2 (3rd edition) Ibadan: University press limited.
- Frank W. (1994) Business Accounting Book (2nd edition) London pitman publishing.
- Mordy B (1993) :Principles of accounts (9th edition) Lagos Spectrum book limited.
