Appraisal Role Of Auditors In Controlling Fraud In Government Owned Establishment (A Study Of Abia State University, Uturu)

ABSTRACT

As business Organization developed over the years from sole proprietorship to partnership and then to corporate entities, ownership continued to separate from the control of the business. Today, providers of capital, that is business owners or shareholders (masters) engage managers (stewards) to run the business organizations on their behalf The managers are accountable to the owners. Then, the question arises: How true or correct are the presentations of managers to the owners of the business on the day- to- day running of the business? An intermediary (auditor) comes into play to mediate between the owner and the managers. Then, when it comes to the Government owned establishment, many frauds are committed. As a result of this, there is every need appoint an Auditor to control fraud and other irregularities which may lead to embezzlement of the financial records.