The Relevance Of Auditing In The Enchantment Of Accountability In The Public Organisations

Project and Seminar material for Accountancy

Project and Seminar material for Accountancy


This research work is designed to show the importance of auditing in the enhancement of accountability in the public organization. It is worthy to say that audit is necessary and indispensable for the enhancement of accountability in the public organization.

This discussion in this project is done in three chapters, reading in summary conclusion and recommendations. In order to achieve success on the study, face to face interview which were basically for the role of audit in enhancing accountability in public service.

Chapter One

1.0 Introduction

Initially accountability of public funds did not receive very serious public notice of concern. The citizen did not have to worry to contribute to their governments, but with development of the scale and scope of governments, expenditures to finance those obligations consequently, the citizen we required to raise funds monthly or at intervals and as a result taxing too off officially. This is the management of the public organizations funds were entrusted into the hands of some group of people who carry out the day to day running of the business of the organization. The shareholders who light not participate in the operation of the organization would need a third person (an auditor) to audit the submitted statement of account and check whether they show a true and fair view or not.

Audit has since its inception, received a lot of definitions and interpretations both from authors and auditing bodies. There is little or no need to say that it has suffered a lot of misinterpreted. Most of these misgiving interpretations see it as aimed at “fraud and error detection” De Paula, et at (1983: 19).

But auditing essentially involves much more than that one of the most involved and most acceptable definition so far, in that issued by the consultative council of accountability Bodies, (CCAB), which sees audit “as an independent examination of an expression of opinion of the financial statement of an enterprise by an appointed auditors in pursuance of that appointment and in compliance with any relevant statutory obligation” (Howards, 1982:1).

Deductively, an audit is “the objective scrutinization of someone’s work or presentation by a third part (an auditor) that is different from the users and prepares of the presentation. The general essence of an audit is to ascertain compliance of organization’s records and operational polices of organization record and operational policies with certain prescribed standards (IBID, 1983:12). Further, it aims at increasing the usefulness acceptability and dependability of financial statements.

Accountability on the other hand as given by Webster Encyclopedia Dictionary of English is the state of been accountable, liable and responsible. The same dictionary goes for her to define accountable as liable to make good case of loss, responsible for a trust, liable to be called to account.

1.1 Statement Of The Problem

The increasing have of fraud and embezzlement of public funds and properties by offices in the public services has brought to limelight problems that are associated with accountability in the public service. In this project, it is proposed that auditing will be help to enhance the much needed accountability to the public service.

1.2 Objectives Of Study

Based on these problems stated above, the purpose of this study can be stated as follows:

  1. To ascertain the role of audit in enhancing accountability
  2. To determine whether audit can actually make any difference to the deplorable state of accountability in the public service.
  3. To enable the employers of auditors have a good knowledge of what audit is all about and much to expect from audit. This is necessary because most of the employers do not see the audit job as aimed at confirming the preparation of financial statement in keeping with the statutory requirements, guiding the preparation and presentation of such statement, rather, the employer’s notice about the auditors is that of fraud detection which is from his primary function.
  4. To ascertain the problem independent auditors’ encounter in the discharge of their duties, the reason why accountability is yet to be achieved in the public companies or government parastatals.
  5. To plug the loopholes that have for some time now denied the public companies and parastatals the much needed accountability.

1.3 Significance Of The Study

The misconception of the functions of audit has no doubt ended in most minds, the confidence on auditor’s report and has depressed the creditability with which the audit profession was owned.

The researcher has therefore taken to this study with that it will bring about the following:

  1. Restore people’s confidence and reliance on auditor’s report
  2. Emphasize on the need for government and top management compliance on auditor’s report.
  3. Bring back to full flame, the dividing image of the noble profession
  4. To reassure the employers of auditors on the indispensability of audit on the much towards the achievement of accountability in the public service.

1.4 Scope Of Study

The study focuses on the public organization their accountability and the role auditing play in enhance it. In the execution of this, the researcher has aimed at exploiting all revenues all avenues in order to convince the misinformed minds as to the accountability of public organizations with regards to auditing, I would not to venture into the use of computer for the attainment of this convenience and financial constraints.

Hence, the research selected and studied few of the departments in the public organization. The researcher also had direct contact with the strategic, tactical and functional or operational levels of management. Any information gotten from these people would be assumed to be a good representative of the entire department in the public organizations. The limitations of this study are financial constraints and limited time.

1.5 Assumptions Of The Study

Over the year, business organization and government gave auditing title or no attention because the properties took active part in management of their small business transactions. But, as business transactions increase and investment in limited liability companies came into existences, whereby shareholders are not managers.

To account for shareholders became necessary and to ascertain the correction of the accounts by the shareholders and independent body (an auditor) is employed to look into the account presented by managers.

1.6 Definitions Of Terms


This is the independent examinations of an expression opinion, of the financial statements of enterprise of appointed auditors in pursuance of that appointment and in compliance with any relevant statutory obligation.

Audit Report:

It is a written report of an audit no matter which an opinion is sought within the terms of an auditor’s appointment.

Internal Audit:

it is an independent appraisal function within an organization to examine, evaluate and report on the adequacy of accounting and other controls of resources of the operations of the organization.

Audit Evidence:

It is all the relevance and reliable information obtained and recorded by auditor which is sufficient to enable him, in arriving at conclusions on which he has based his independent opinion on the financial statement being audited.

External Audit:

This is an audit or accounting entity carried out by an auditor, who is not employed by that entity or by its managers and is as far as possible independent of the management of the public organization.


It is the state or condition of being accountable for an execution of duties.

Chapter Five

5.0 Summary, Conclusion and Recommendation

5.1 Summary of Findings

Through this study, it has been possible for us to discover the needs and implications of audits to accountability in the public organization. This study has also made it possible for us to understand that the external audits cannot be properly conducted in shear isolation of the management and workers of the audit departments of the public organization.

Rather, each of these groups collectively and individually has role to play towards Audits and invariability to the enhancement of accountability. Emphasis is made in this project that management has role of compliance to and /or implementation of the auditors’ recommendations, the workers the role of incriminating the external audition of suspected misappropriation or fraud.

5.2 Conclusion

The study started with the purpose of ascertaining what audit is all about, the role of audits, the difference that can audit can make towards recount ability and probable consequences or implications of having the account unedited.

The misconception on audit and restore confidence and the reliability of employers of auditors on audit reports and most importantly. Perhaps to retaliate on the indispensability of audits for achievement of accountability.

5.3 Recommendation

Having discovered the needs, implications and / or probable consequences of audit to accountability in the public organization, the researcher wishes to advance the following recommendations, which he believes would be of help to eliminate the indentified problems and quicken the match to accountability in the public organization it properly applied.

The public organization should endeavor to consist in their policies and methods, or preparation and presentation to financial statements.

There should be strong and effective internal control system that does not give room of misappropriation.

To ensure this, there should be a proper classification of account and a well established division of labor in which the work of one department acts as a check and control to others.

The employees of the audit company should endeavor to initiate the auditors on suspicious activities.

They would enable the auditors to be mere conscious and to carry out exhaustive test aimed at unveiling misappropriation, when they exist.

Auditors should try to be independents in not only proper but in practice, so as to uphold the glorious image of the noble profession.

The auditor should allow honesty and discipline to reign, being always truthful no matter whose ox is gored.
Finally, it has been established through the study that audit is necessary and in facts indispensable for the enhancement of accountability in the public organization. This therefore would answer the question to relevance of auditing in the enhancement of accountability in public organization.

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