The role of statutory auditor in controlling frauds in government owned establishment

Thesis Abstract

In the chapters of this project, it is clear that an auditor (statutory) is very important in all government establishments. This is because the Nigeria citizens see government properties as “Nobody’s property” the trend now is that they perpetrate fraud regularly with the above mentioned motive in the back of their minds.
The auditor is just an impartial critic and observer, he is a “watchdog” and not a “blood hound” He displays all the skills and care which is expected of him as a professional.

The view of other auditors about the topic were also examined. The role of a statutory auditors in controlling fraud is a vast topic which has been dealt with by many professionals in different fields and vocations. The work of a statutory auditor is backed up with the provisions of the company and allied matters decree (CAMD) 1990. This means that the auditor has legal rules to follow in carrying out his work. It is compulsory for all government establishments under the provision of the CAMD 1990 or the statute edit of creation to audit their accounts and other financial statement at the end of every financial year.

In summary, the role of a statutory auditor is vital and indispensable in government owned establishments so as to enable sanity and fairness in operations of the government officials and their subordinates.