INTERNAL AUDITING EFFICIENCY AS A TOOL FOR IMPROVING THE COMPANIES

ABSTRACT

In the yearly of period of scientific management in the days of Fredrick Taylor, the use of management techniques known to them to improve the organization to improve the condition of the management could be linked to care of a disease which are partly known while other more serious ailment ravaging the body has not been diagnosed at all. Infect management techniques and principle like the principle of management, management by objective (MBO), management by the expected, minimum and maximum great criterion, decision techniques and expected value etc., were all used as a way to enhance the organizational performance through good decision making. All this was like first aid in treating organizational performance. Efficiency in auditing provides means of appraising companies performance and diagnosing ill or weakness of the company more effectively and comprehensively. The research will conduct a comprehensive and a more critical on the topic: The research work is divided into five chapters. The first chapters’ center on the introduction, the background of the study, statement of the study, objective of the study, hypothesis testing, scope and definition of term. Chapter two deal on the view of some authors on the topic while the chapter three deals with the research design and methodology, furthermore, chapter four focuses on the data analysis and lastly, the chapter five is concern with the findings, summary of the findings, interpretation of data collected, conclusion and recommendation.

CHAPTER ONE

INTRODUCTION

Since the creation of Enugu state on the 17 of august 1991 till date, many of the government owned company e.g. Niger gas limited, Emene flour mill limited Emene, Anambra vegetable refinery oil Nachi, Nigeria cement company Nkalagu located at Ebonyi state which is jointly owned by Enugu Ebonyi and other state – Imo are at the point of collapse. Many of the company if they are working are performing below 40% as optimum utilization as statistic on that will reveal latter. The above issue is not peculiar with Enugu state alone. Recently, there has been a drastic change in the business trends in Nigeria. Many reasons has been giving for the anomalies in the business which has resulted in many companies down – fall, ranging from lack of accountability, company crisis, misappropriation of funds, fraud, excess expenditure that are usually not compactable with the real budget. In this maiden broadcast to the state government, Dr, Chimeroke Nnamani raveled that the account of Enugu state public service has not been audited since the state was created while chief Egbogu, the chairman of the panel constituted (among other things) find the best way of making the civil service more functional to increase the in the state. In the interim report submitted to the deputy governor of Enugu state on Wednesday, 28 July 1999, that the fraud, overbroad wage bill, ghost workers syndrome were the factor militating against the efficient performance of the civil service and reported that the civil service will not be having above twelve thousand workers (12,000) while here has Ben speculation that payment \re been made to up to thirty thousand worker in Enugu state. The above shows categorically in all ramifications that of the state civil service and their minitry – extra minitry department and other parastatals have been audited efficiently, such anomalies could not have crept up.

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