AN ASSESSMENT OF THE IMPACT OF INTERNAL AUDIT FUNCTION IN STATE MINISTRIES
CHAPTER ONE
1.1 INTRODUCTION
As government has grown in scope size and complexity so too the need for internal auditing accounting for and controlling government receipts and expenditure has resulted in the need for a staggering number of government clerks, accountants and auditors.
The need for control over government revenue appropriation and expenditure should not be surprising federal, state and local government is actually the largest industry in the country. However the need for efficient and effective internal auditing system in government ministries and extra- ministerial department can not be over emphasized as the complexity of government activities is obvious . the annual budgets by federal state and local government are generally incorporated into governmental accounting system and financial reports, this is not the case in private sector business organization. Thus the annual budgets in conjunction with government financial reports are the primary focus of public sector audits. Internal auditing is an independent appraisal function established within an organization to examine and organization Taylor and Glezen (1979) it is mainly concerned with appraised of government activities for the review of accounting financial and operations as a service to the management
A person who undertakes audit function is called an auditor. Internal audit has been described as an independent review of operation and records. Sometime continuous undertake within an organization by especially assigned staff of the organization as basis for long protection and constructive services to management Ubesis (1997).
External auditor is an independent examination of financial statement of an organization an auditor. Other than an employee of an organization but by appointment by the share holders, like external audit, internal auditing had its role in accent time infect internal and external audit had essentially the same beginning there was no distinction between them prior to the nineteenth century “Ricchute (1975). Both group of auditor rely on the same data base. Also the internal user rely on both internal and external auditors and external user rely on external auditors. Importantly, external auditors can sometime rely upon an internal auditors work when the internal audit function is strong. As a
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