ABSTRACT
This research work is aimed at evaluating the role of independent auditors in ensuring public accountability in Enugu State with particular reference to some selected audit firms and state ministries in Enugu metropolis, this work examined the following: The role of independent auditor on public account ability in Enugu State. The problems and challenges faced by the independent auditors in ensuring public accountability in Enugu State. Data for the study was sourced from two main sources which include Primary and Secondary sources of data collection. Primary data: Questionnaires and oral interviews were used to collect information from the respondents. Secondary data: Journals, magazine and other relevant materials relating to the area of my investigation will be review.
Extensive literature review was carried out on direct literature and indirect literature on books, journals and past works. The research instrument used in this study includes oral interview and questionnaire. The questionnaire is structural as to contain both close and open ended question. Simple tables, pie-charts and percentages were used in treatment of data while chi-square was used in the research work. The researcher found out that independent auditor has significant role to play in the development of Enugu State Ministries. Based on the findings I recommend that Client should allow the auditors to exercise his independent, free from bias and compromise in the discharge of his duties. All government establishments should as a matter of urgency embark on yearly auditing of their books and records and fraud early.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In an economy where resources abound, funds are being disbursed for the government to effectively carry out its assignments. Since a lot of public funds are being disbursed for government assignment it calls for accounting that is of the receipts and disbursements of these funds. The accountants in these units perform these assignments by preparing the profit and loss accounts and also balance sheet showing the state of affairs of the years in reviews.It is important to note that inspite of the accountant and the internal auditors (who serves as the custodian of financial resources and watch-dog respectively). There are still reports of large scale fraud in most of there government unit.
The organization had to be addressed and it also needs various attentions Again, it is the requirement of law that the financial activities of the state should be subjected to audit section 83 (2) of the 1989 constitution states that the public accounts of the federal and state government shall be audited by the auditor-General of any person authorized on his behave shall have access to all book records, return and other documents relating to his accounts. Also some of government institutions has public influence like government companies allowing interesting members of the public to own a share.Section 148 (2) of companies and Allied Matters Act of 190 states that a companies must be audited these people who has interests need to know about the operations of these companies through, the instance of audited reports.
So, in the view of the above and also for the state government to maintain an effective financial base in the system. The role independent auditors in Enugu State cannot be over-emphasized the need for indigent bias free examination of the financial records books and accounts of Enugu State by an auditors is not only a matter of compliance with the law but also a means of protecting detecting and correcting of errors and frauds.An audit has been defined by many authors such as: According to Clive an Attwood 1999 auditing is an examination by the auditor of a balance sheet and profit and loss account prepared by other so as to be able to express his opinion that such a balance sheet and profit and loss account have been properly drawn up to show a true and fair view of the state of affair and of the particular concern and comply with the relevant states.According to Bigg (2001), an audit is an examination of the books, account and voucher of any business, as will enable the auditor to satisfy himself that the balance sheet is properly drawn up so as to the a true and fair view of the state of affairs of the business according to the best of his information and explanations given to him and as shown by the books and if not in what respects he is not satisfied.