ABSTRACT
This research work centered on the issue of improving public sector accountability through regular internal auditing. The study was motivated as a result of incessant . cases of financial misappropriation, fraud, embezzlement and sundry accountability inefficiency in the Nigerian public sector. The purpose of the study is to examine the possibility of organizing, restructuring, replacing and improving the existing accounting and internal audit regulation and practices for sound accountability in the public sector. To conduct this research work, hypothesis were formulated, data was generated through questionnaires, observation, oral interviews and materials from various libraries. Data collected for the studies were analyzed with simple percentages and hypotheses tested using the statistical chi• square (X2) was proved that: Accountability can be improved in the public sector through prompt and sound internal auditing. Inadequate audit personnel cum professional training in the field have adversely affected the fraud detection aspect of internal auditing. The independence of the internal auditors in the public sector should be further strengthened. The 'tedious process for sanctions against fraud embezzlement and misappropriation should be reviewed. Accordingly, recommendations were proffered to ensure improved accountability through regular internal auditing in the Nigeria public sector.
TABLE OF CONTENTS
Title Page -
Declaration
Certification
Dedication -
Acknowledgement
Table of Contcnts•
List of Tables
Abstract - -
CHAPTER ONE INTRODUCTION
1.1 Background of the Study - l
I.L Statement of Problems
Research Questions 4
Statement of Hypothesis - 4
Purpose of the Study 5
Significance of the Study 6
Limitations of the Study - 7
Brief Historical Background of the Case Study 8
CHAPTER TWO
2.1 Review of Literature
2.2 Brief Historical Development of Auditing
2.3 Definition of Auditing
2.4 Concept of Public Sector Auditing
2.5 Public Sector Auditing Standards
2.6 Types of Audit
2.6. l Management Audit
2.6.2 Statutory Audit
2.6.3 Internal Audit 19
2. 7 Fund Accounting in the Public Sector 20
2.7.l Basic Types of Funds 22
2.7.2 Justification for Fund Accounting in the Public Sector 23
2.7.3 Weakness of Fund Accounting 24
2.8 The Concept of Accountability - 25
2.8. l Impediments of Effective Accountability 27
2.9 Auditing and Public Sector Accountability 2
2.10 Auditing And Increasing Fraud in the Public 30
2.10.1 Sector 30
2: 11 Need for Regular Auditing 31
2.12 The Cost Implication of Improving Public Sector Accountability through Regular Auditing 31
CHAPTER THREE RESEARCH METHODOLOGY
3 .1 Scope of the Study
3 .2 Selection 'of Data -
3 .3 Collection of Data -
3 .4 Sample Size Determination
3.4.1 Sampling Technique
3.5 Operational Measure of Variables
3.6 Data Analysis Technique
3.6.1. Percentage Frequency Distribution
3.6.2 Chi-Square Technique
CHAPTER FOUR .
PRESENTATION AND ANALYSIS OF DAT A
4 .1 Presentation of Data 40
4 .2 Analysis of Data - 41
4.3 Testing of Hypotheses 43
4.3.1 Test of Hypothesis one - 43
4.3.2 Test of Hypothesis Two - 46
4.3.3 Test of Hypothesis Three 48
4. 4 Discussion - 50
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMANDATION
5.1 Summary of Findings 51
5 .2 Conclusion - 52
5 .3 Recommendation 52
REFERENCES 54
LIST OJ,' TABLES
Tab\e 4.2.2: Shows responses to enhancement of accountabi\ity
in public sector. 41
Table 4.2.3: Responses to effect of adherence to auditing
and accounting standard. -- 41
Table 4.2.4: Responses to audit queries and reports
T::ihlP: 4.1."· Responses to effect of management responsibility 42
in fraud reduction. - 42
Table 4 .3 .1; Responses and computation of expected frequency (Fe) 44
Table 4.3.2 - 45
Table 4.3.3 response and computation of expected frequency
(fe) of question 11 and 13. 46
Table 4.3.4 - 47
Table 4.3.5: Response and computation of expected frequency
(Fe) of question 16 and 17. 48
UGAMBA, / (2020). IMPROVING PUBLIC SECTOR ACCOUNT ABILITY THROUGH REGULAR INTERNAL AUDITING: A STUDY OF SELECTED GOVERNMENT PARASTATAL IN ABIA STATE. Repository.mouau.edu.ng: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/improving-public-sector-account-ability-through-regular-internal-auditing-a-study-of-selected-government-parastatal-in-abia-state
/554, UGAMBA. "IMPROVING PUBLIC SECTOR ACCOUNT ABILITY THROUGH REGULAR INTERNAL AUDITING: A STUDY OF SELECTED GOVERNMENT PARASTATAL IN ABIA STATE" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 20 Mar. 2020, https://repository.mouau.edu.ng/work/view/improving-public-sector-account-ability-through-regular-internal-auditing-a-study-of-selected-government-parastatal-in-abia-state. Accessed 24 Nov. 2024.
/554, UGAMBA. "IMPROVING PUBLIC SECTOR ACCOUNT ABILITY THROUGH REGULAR INTERNAL AUDITING: A STUDY OF SELECTED GOVERNMENT PARASTATAL IN ABIA STATE". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 20 Mar. 2020. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/improving-public-sector-account-ability-through-regular-internal-auditing-a-study-of-selected-government-parastatal-in-abia-state >.
/554, UGAMBA. "IMPROVING PUBLIC SECTOR ACCOUNT ABILITY THROUGH REGULAR INTERNAL AUDITING: A STUDY OF SELECTED GOVERNMENT PARASTATAL IN ABIA STATE" Repository.mouau.edu.ng (2020). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/improving-public-sector-account-ability-through-regular-internal-auditing-a-study-of-selected-government-parastatal-in-abia-state