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Evaluation of value for money audit as a tool for fraud control in the public sector
Evaluation of value for money audit as a tool for fraud control in the public sector
Table Of Contents
- The title page i The approval page ii Certification page iii Dedication iv Acknowledgement v Table of contents vii List of tables viii List of figures ix The abstract xChapter One: Introduction1.
- 1.Background of the study…………………………………………………………….1 1.
- 2.Statement of the problem…………………………………………………………..3 1.
- 3.Research question……………………………………………………………………….4 1.
- 4.Objective of the study…………………………………………………………………4 1.
- 5.Research hypotheses……………………………………………………………………5 1.
- 6.Scope of the study………………………………………………………………………6 1.
- 7.Limitation of the study…………………………………………………………………7 1.
- 8.Significance of the study………………………………………………………………7 1.
- 9.Definition of terms……………………………………………………………………….8Chapter Two: Review of related literature2.
- 1.Difference between internal auditing and internal auditor…………….10 2.1.
- 1.The need or objective of internal auditing in power sector……………..11 2.
- 2.Difference between external auditing and external auditor……………..12 2.2.
- 1.Objectives of external auditing…………………………………………………….13 2.
- 3.Qualities of an auditor………………………………………………………………….14 2.3.
- 1.Auditors right………………………………………………………………………………….16 2.3.
- 2.Duties of an auditor………………………………………………………………………..17 2.
- 4.Value for money audit as a tool of fraud control…………………………..18 2.4.
- 1.Value for money objectives…………………………………………………..……….…19 2.4.
- 2.Improving value for money audit………………………………………..………….…20 2.
- 5.Problems and prospects of value for money audit…………………………20 2.5.
- 1.Causes of fraud in the public sector………………………….…………………..21 2.5.
- 2.Prevention measures of fraud in the public sector……………………..…23 2.
- 6.Other preventive measures………………………………………….……………………24 2.6.
- 1.Internal auditor’s role in fraud control……………………..……………………24 2.6.
- 2.Fraud control methods………………………………………….……………………….26 2.
- 7.Core of value for money audit…………………………………………………………27 2.7.
- 1.Value for money audit concept……………………………………………………….31 2.7.
- 2.Scope and emphasis……………………………………………………………………….33 2.
- 8.Auditing and value for money……………………………..…………………………34 2.8.
- 1.Steps involved in carrying out value for money audit…………………………36 2.8.
- 2.Public sector audit………………………………………………………………………….36 2.
- 9.Procedures for value for money audit…………………………………………….37 2.9.
- 1.Value for money audit technique………………………………………………….39 2.9.
- 2.Value for money review………………………………………………………………….41 2.
- 10.Problems of value for money audit in the public sector………………….42Chapter Three: Research methodologyIntroduction………………………………………………………………………………………..44
- 3.1Research design………………………………………………………………………………44
- 3.2Source of data……………………………………………………………………………………46
- 3.3Population of the study…………………………………………………………………..46
- 3.4Sampling size and techniques…………………………………………………………47
- 3.5Instrument for data collection……………………………………………………..48
- 3.6Validity for instrument of data ………..………………………………………….49
- 3.7Reliability of the instrument data…………………………………………………..49
- 3.8Method of data ……………………………………….…………………………………..49
- 3.9Method of data analysis……………………………………………………………….50Chapter Four: Data presentation, analysis and interpretation4.
- 1.Data presentation and analysis……………………………………………………..53 4.
- 2.Test of hypothesis…………………………………………………………………………63Chapter Five: Summery of findings, conclusion and recommendation5.
- 1.Summary of findings………………………………………………………………………75 5.
- 2.Conclusion…………………………………………………………………………………….77 5.
- 3.Recommendation…………………………………………………………………………78 BIBLIOGRAPHY………………………………………………………………………….80 APPENDIX / QUESTIONNAIRE……………………………………………..82List of tables4.
- 1.1Responses on the extent to which value for money audit is relevant to the effectiveness and control of an organization. 4.
- 1.2Responses on the significant relationship between internal control and fraud detection. 4.
- 1.3Responses on the causes of lack of transparency and wide spread corruption in power sector. 4.
- 1.4Responses on the significant impact of value for money audit in fraud detection and control.List of FiguresFig
- 2.7Categorization of fraud detection methods
- 4.2Anova table 4.
- 2.1Anova contingency table for hypothesis 1 4.
- 2.2Anova contingency table for hypothesis 2
Thesis Abstract
The scope of governmental auditing has been widened over the year by the demand for independent verification of information to the extent that it can no longer be limited to the audit of financial operations, but value for money audit which ensures that the activities and programs are carried out at low cost and high standard. Lack of commitment in cost efficiency to the overall achievement of goals by the managers in the public sector brought the need of this research work titled “Evaluation of value for money audit as tool for fraud control in the public sector”. The aim was to ascertain whether government auditing achieves the purposes for which programs are authorizes and funds released economically and efficiently in accordance with applicable law and regulations. A survey research design was adopted for the study with sample size of 100 respondents randomly sample and stratified from Audit and finance department of PHCN (Abuja). Three hypotheses were tested at 5% level of significance using the analysis of variance (ANOVA) statistics. it was found that value for money audit play a vital role in promoting the effectiveness and efficiency of activities in the public sector the researcher recommend that government should support the implementation of policies formulated to enhance value for money audit in the public sector.
Thesis Overview
<p> </p><div><p><em><strong>1.1 BACKGROUND OF THE STUDY</strong></em><br>Every sector of the economy both the private and the public sector has its own objectives and goals to achieve. For the public sector of the economy, their goal is to satisfy the social needs of the citizens and in the effort to achieve these purposes, auditing more often, play a vital role.<br>The size and scope of these sectors have sometimes made it clear for the executor to exercise personal and first hand supervision of operation. It is in this light that value for money audit established by management is initiated, for any organization to carry out its business efficiently and effectively, there must be some factors that must be put in place for the smooth running of the organization like materials, machines, human labor and money e. t. c.<br>Auditing is seen to play an intermediary function in between management and the resources of the organization. It is also fundamental to any business either the public or private sector, which will help the business to keep its adequate financial records. These financial records are kept in response to the demand by a system control which requires..</p></div><h3></h3><br> <br><p></p>Blazingprojects Mobile App
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