Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).

Project and Seminar Material for Accountancy / Accounting

Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).

Chapter One


1.1 Background of the Study

Auditing may be defined as a systematic examination testing and confirmation of accounting record and routines to verify their accuracy and compliance with established concept, principle standard and legal requirement.

However, the Macdonald and Howard LR principle of auditing as a careful examination of the books of account and vouchers of a business, a will enable the auditor to satisfy himself that the balance sheet is property drawn up. So as to give a true and fair view of the state of affairs of the business and whether the profit and loss for the financial period according to the best of his information and explanation given to him and shown by the books of account and if not in what respect he is not satisfied.

1.2 Objective of the Study

The objective of the study of auditing procedure in government parastatals are as follows.

  1. To get adequate and relevant information about the financial aspect of government parastatals.
  2. To build new knowledge gained into these research for future use into operation of government parastatals.
  3. To find out the extent to which those who elected to oversee the affairs of government parastatals in the teaching Hospital are able to account for their stewardship.
  4. To make suggestion and recommendation as to new finding relevant to develop of most of hospital in Nigeria
  5. To be able to detect likely error and irregularity and able to make necessary correction as not to affect the government set up.

1.3 Significance of the Study

The significant of the study could be a sort of eradicating the persistent increase in the misappropriation of fund in an organization. It could also provide job opportunity for graduates seeking employment. Because the system would entails employing a qualified and competent staff to handle the auditing exercise. Because in any organization set up, no matter how large or small it should exposed it self to verification of its various books of account so as not to give rooms to misappropriation by workers.

1.4 Scope of the Study

The study is to avail a layman the opportunity to have a knowledge of how financial accounting and auditing interacts, check and balance each other.

The scope of the study is the financial department of university of Ilorin Teaching Hospital.

1.5 Limitation of the Study

The major limitation of the study are time constraints, financial constraints and difficulty in obtaining adequate and up-to date information necessary for the research work.

The limitations mentioned above taken into consideration, the research work on accounting and audit procedure in the government parastatals on the university of ilorin teaching hospitals. But reference can be made from the findings if this research to other health institutions that fall within the public health sector particularly the other teaching hospital in the country.

1.6 Research Methodology

For the purpose of adequacy of data needed for this project, the researcher used interviews schedule, questionnaire method and observation method.

1.7 Plan of the Study

The study is made up of five chapters.

Chapter one deals with general background of the study, this involve the introduction, objectives of the study, significance of the study, scope of the study, limitation of the study, research methodology, the limitation of terms and plan of the study.

Second chapter deals with meaning of parastatals, establishments of university and their teaching hospitals,. Auditing in relation to accounts, annual stock taking and appraisal of the performance of the returns, users of audit information i.e internal and external user.

The third chapter deals with interview, questionnaire and observation.

The fourth chapter deals with findings his includes historical background of university of ilorin teaching hospital, organizational structure, account payables, sources of fund i.e. capital structure, auditing procedure at university of Ilorin teaching hospital, audit query, internal control and procedure

Lastly chapter five contains the problems, summary,

Chapter Five

5.0 Problems, Summary, Conclusion and Recommendation

5.1 Problems

Problems are barriers or an obstacle, which could hinder an organization from attaining it’s stated goals and objective during the course of the research work, the researcher noticed the problem of inadequacy staff and which is affecting the organization considerably. For instance, in a situation where there are only two clerks preparing staff salaries of more than 2500 workers within two weeks, this is rather too cumbersome on the clerks, not only will the work become unpleasant to the worker but it will bring about low productivity, and this would hinder the organization from attaining its goals.

The same problem persist in other units of the audit in which most of recurring job is done mainly by the available number of staff the researcher how come to realize that some of the week now takes three weeks plus to be completed. The recording of the supporting documents prepared by the cashier and posting of cash book all by the same individual presupposes that its duty are not separated. And thus one could infer that the internal control system is extremely weak.

5.2 Summary

Based on the procedure and methods of audit practice it would be observed that the personnel involved in the preparation of the statement and records treatments are grouped into various sections with superior or sectional head who in turn is responsible to the chief accountants.

This practice pre-supposes that there exists some checks and balances in their activities which could give no room to any mishandling or misappropriation of organizational funds. The system of separation of power and duties by the management brings about efficient and effective results to the organization.

5.3 Conclusion

The research work affords layman an insight into the financial operation in a government department or parastatals. That is, it shows how this financial operation relates with various sections within the audit, it also serves as a watch dog in the accomplishment of various recurring duties.

More so, their system of check and balances is also very essential and is a set related procedure that together provides an integrated structure for carrying out a basic objective of the organization.

5.4 Recommendation

To forest and manipulation of figures, fraud and error by the cahier, the management should employed more competent staff so as be able to separate cashier duties, and ensure that the recording of cash book and some other vital work is done entirely by a different unit.

The organizational should also employ more qualified accounting officer to prepared the final account so as to be able to detect early error and fraud which are likely to hinder the organization, and also to reduce the audit fees been charged by the auditor.

It is also essential to enable the young fresher accounting graduate the job opportunities.

It is a paramount duty on the part of the management to employ qualified staff to fill the various agencies in the unit lacking enough staff so as to increase the service rendered to the patients, because if the patient are not been attended to at the right time by the competent and qualified staff, the customer could shift to other places and thus the number of their patient will reduce drastically, and incidentally the revenue would be affected one way or the other.

Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).

Project Material Download

3,000 Naira

The complete material will be sent to you in just 2 steps.

Quick & Simple…

Step One Purchase

Make payment of ₦3,000: through USSD Transfer, Bank Mobile App, ATM Transfer, or POS Transfer to:

Access Bank PlcAccount No.: 0811003731
Name: Samphina Academy
Account Type: Current

Or Click Here to pay with Debit Card

Click Here to pay with Debit Card ($15)
GHANA – Make Payment of 60 GHS to MTN MoMo, 0553978005, Douglas Osabutey 


Step Two Purchase

Send the following details through Text Message or WhatsApp Messenger | +234-8143831497

  • Payment Details 
  • Email Address 
  • Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).

The complete material will be sent to your email address after receiving your payment information | T & C Apply

  Contact Our Help Desk

You may also like:

⚠️ Need a different topic? Perform a quick search

Get A Complete Business Plan For Any Business In Nigeria

Business Plan for Businesses in Nigeria

  Business Plans in Nigeria

Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).


This research material “Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).” is for research purposes and should be used as a guide in developing your research project / seminar work. For no reason should you copy word for word (verbatim) as will not be liable for any who copied the material.

The aim of providing this material is to reduce the stress of moving from one school library to another all in the name of searching for research materials. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works. According to Austin Kleon “All creative work builds on what came before”. is only providing this material “Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).” as a reference for your research. The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own research. Use it as a guidance purpose only.

How to defend your research work

This is a general guide on how to defend your research work:

1. Prepare For Questions:

If you are preparing for questions that may be asked during your defense, then your answers will flow smoothly and effectively. This will prove your knowledge on the subject e.g “Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).“, and strengthening your argument. Ask friends and family, read your work for them to listen to your presentation, and write down questions. You may be lucky the panel will ask you those you have already prepared on.

2. Strong Summary:

Summarizing your chapters will help keep your audience focused because it is easy for a mind to drift, so providing summaries will ensure your panel will follow along, even if they lose focus for a brief moment. Visual aides, such as graphs and power-point presentations can be very helpful. If you are going to use these, make sure you will practice your presentation with them.

3. Be Confident in Your Research Work:

Not knowing your topic “Accounting And Audit Procedure In The Government Parastatals (A Case Study Of University Of Ilorin Teaching Hospital).” inside out will cause you to struggle and ultimately fail with your defense. You need to know the subject from every angle to ensure you are fully prepared for any question that may come your way.

4. Conclusion:

Reinforce your findings to conclude your defense. The finale of your presentation should focus on proving the work that has been done. You may need to recap on what has changed and remained unchanged, if is necessary.

5 . Listen:

Before you get defensive or recite a particular answer, make sure you truly understand the question being asked. Being a good listener is an important quality, because providing an inaccurate or off-topic answer will also weaken the validity of your paper.

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.