Home
Full Project – THE ROLE OF AN AUDITOR IN SMALL BUSINESS ORGANISATIONS

Full Project – THE ROLE OF AN AUDITOR IN SMALL BUSINESS ORGANISATIONS

Entrepreneurship
WhatsApp or SMS: 07087083227
Click here to Get The Complete Research Project Chapter 1-5

Full Project – THE ROLE OF AN AUDITOR IN SMALL BUSINESS ORGANISATIONS

Click here to Get this Complete Project Chapter 1-5

ABSTRACT

A significant contribution to the development and survival of business organization is the role that auditors play. This research work, The Role of Auditors in Small business organizations, give a broad understanding of what the auditors role entails.

In the course of this research, data was collected by means of questionnaire. The collected data were analyzed with the aid of percentages. Further analysis was done on relevant information. The statement of research hypothesis was tested using chi-square distribution.

The use of internal control questionnaire and evaluation forms by auditors, to ascertain and evaluate the strengths and weaknesses of internal control systems of business organization, with a view to determining the degree of reliance to be placed on the internal control system, is a major finding of this research.

The recommendation made in respect of the above finding, is that internal control questionnaire and evaluation forms which auditors use in ascertaining and evaluating internal control system should be constantly reviewed and revised in light of current changes made in clients internal control systems.

CHAPTER ONE

INTRODUCTION

  1. BACKGROUND OF THE STUDY

According to the third national development plan (vol. 1 page 353) “manufacturing establishment employing less than 10 people or whose investment in machinery and equipment do not exceed N600, 000 are referred to as small scale industries.

In the credit guidelines of the Central Bank of Nigeria (C.B.N) small scale enterprise are classified as those business with an annual turnover of less than half a million naira. Currently, as given by the government, small scale industry refers to those industries with a capital investment not exceeding N150, 000 in machinery and equipment alone.

Today, every business organization intends to continue as a going concern, i.e. continue to acquire assets, increase sales, improve profit margin, to remain in operational existence into the foreseeable future and not having any intention to curtail or significantly reduce its scale of operation.

To acquire this aim, the organization will have to institute sound internal control and accounting system, appoint directors and managers to direct the affairs of the business and to ensure that the funds intended to achieve this aim are well applied.

Business organization who successfully put these structures in place may yet fail to develop and survive in isolation of the auditor. It is evidenced by the fact that the directors and managers who are expected to manage the funds and direct the affairs of the business may begin to perform their activities with non-challant attitude knowing fully well that their work will be checked by an independent person (the auditor), as a result, funds may be misapplied, diverted, embezzlement may be on the increase, loss of confidence by shareholders on directors. e.t.c. with all these, the organization may no longer be able to continue as a going concern, and this will eventually result to the liquidation of the business.

No doubt, the role of an auditor in the development of small business organization is inevitable. With the role of auditor in force, the directors and managers are more careful in performing their duties as they may want to protect and maintain their integrity. As a result, mis-management, diversion, mis-application and embezzlement of funds will be greatly checked. The auditors’ role in achieving these may include: reviewing the controls of the organization in the traditional areas of accounting and finance to ensure compliance and contemporary areas of personnel, marketing, sales, and production, to ensure efficiency of the economy. e.t.c.

During the audit, frequent correspondences are made between the auditor and the client such as internal control letter, management letter, letter of representation, all aimed at ensuring the survival of the business. At the end of the audit, a final audit report is made to the shareholders to boost their credibility on the directors.

This project brings out in details what auditors do in practice that is, their roles in the development and survival of small scale business organization.

A substantial aspect of this project shall focus on external auditing with particular reference to small business organizations in Akoko-Edo.

1.2   STATEMENT OF THE PROBLEM

Though in most cases, small business organizations are usually operated by their proprietors, yet there is still many of those small business organizations whose management is rested on people other than the proprietors hence the need for audit arises.

However, in the course of this research, the following problems are to be examined.

  1. Do auditors in small-scale business, comply with the provisions of the companies and Allied matters Act 1990 (CAMA) in the execution of his audit assignment?
  2. How efficient is their internal control mechanism?
  3. Do audited accounts present a “true and fair view?
  4. What are the auditors’ responsibilities in the accounts of the business organizations?
  5. Has cases of fraud and error been prevented in the business?
  6. Is the principle of independence and honesty, competency observed in small scale industry?
  7. Do the auditors get all necessary information and right access to the business books of accounts and financial statement?
    1. OBJECTIVES OF THE STUDY

The main objective of this research work is to appraise the auditor himself in respect of the role he plays in the firm such as:

  1. To ascertain whether auditing is aimed at checking the internal control system adopted in business organizations.
  2. Ensuring that Auditors in small business organizations comply with the companies and Allied matters Act 1990 provisions in the execution of his audit.
  3. To ascertain the auditors responsibilities in the accounts of the business organization.
  4. To ensure that the audited work represent a true and fair view of the records.
  5. The auditor should check fraud and error.
  6. Ensuring that the principles of independence, honesty and competency are observed in the business.
  7. The Auditor should have access to all the necessary information and assess to the business books to help the proprietor have a sound accounting techniques.
    1. THE SCOPE OF THE STUDY

This research work looks at the role of the auditors in small scale business organizations with reference to small scale business organizations in Akoko-Edo. It takes a critical look and reveals the various activities of the auditors in order to ascertain the performance of the internal control of small business organizations.

An insight as to the correctness and accuracy of the records kept by small business organization will be looked into and the auditors areas of concentration will be emphasized.

1.5   STATEMENT OF RESEARCH HYPOTHESIS

The under listed hypothesis are formulated for testing in this research study. Scientific test of these hypothesis are employed to arrive at reasonable conclusions. The formulated hypothesis for considerations includes

a) Ho: The auditor does not help to check the internal control system in     small business organizations.

Hi: The auditor helps in checking the internal control system in small business organization.

b) Ho: The auditors do not play a significant role in the development and survival of small business organization.

Hi: The auditors play a significant role in the development and survival of small business organization.

1.6   SIGNIFICANCE OF THE STUDY

The research work is an investigation into the role of the auditor in small business organizations with reference to small business organizations in Akoko-Edo.

Its purpose is to show the importance of an auditor to users of accounting information such as:

  1. Government
  2. The public
  3. Management/managers
  4. Creditors
  5. Private individuals

f. Tax analyst e.t.c.

Its also based on correcting the wrong interpretation of the role of auditors in small business organization.

1.7   LIMITATIONS OF THE STUDY

A lot of limitations was encountered in collecting information in carrying out this research study. The problems of the executive officers willing to give information or have a direct interview with the researcher.

Financial constraint is inevitable considering the present economic situations. Due to lack of finance at the researchers disposal it was not possible to capture many small scale businesses.

In developing countries like Nigeria, there is the problem of insufficient data.

Furthermore, the organization secrecy as to relating their financial report to the researcher was also faced.

1.8   METHOD OF DATA ANALYSIS

Most analysis was done by means of tables and percentages. Tables were drawn, to show the various response of the question raised in the survey. In testing the two hypothesis, chi-square (X2) is used in that, the data are discrete and variables studied are independent of one another.

1.9   DEFINITIONS OF TERMS

Terms used in the course of this study are explained in relation to what it stands for. They include:

  1. AUDIT: Okolo (1987:7) defined Audit as “an objective and conscientious examination of a statement of account, the underlying records and all the available evidence relating to the statement of account as will enable the auditor to form an opinion as to whether it represent a fair and true view of whatever it purports to represent and to report accordingly.
  2. AUDITING: Mautz and Sharaf (1961) say that auditing is concerned with verification, the examination of financial data for the purpose of judging the faithfulness with which they portray events and conditions
  3. AUDITOR: An auditor is an independent professionally trained accountant who deals with statement of accounts relating to different organizations. Austin. O. Okolie (2007).
  4. EXTERNAL AUDIT: Okolie (1988:61) defined external audit as “the independent, objective and conscientious examination of a statement of account, the underlying documents, physical assets and all other evidence as will enable the auditor to form an opinion as to whether or not the statement of account presents a true and fair view of whatever it purports to represent, and to report accordingly”.
  5. INTERNAL AUDIT: Millichamp (1990:434) defined internal Audit as “an independent appraisal function within an organization for the review of systems of control and the quality of performance as a service to the organization. It objectively examines, evaluates and report on the adequacy of internal control as a contribution to the proper economic, efficient and effective use of resources.
  6. FINANCIAL STATEMENT: Ayaduba (1996:16) defined financial statements as “periodical financial reports of accounts and other related documents that highlight the financial position of an enterprise as well as its profitability.
  7. INTERNAL CONTROL: Millichamp (1990:76) defined internal control as the whole system of controls, financial and otherwise established by the management in order to carry on the business enterprise in an orderly and efficient manner.
  8. FRAUD: Okolo (1988) it is used to refer to the intentional mis-representation of financial statement/information or mis-appropriation of assets which could result in mis-statements of an entity’s financial statements by proprietors, management, employees, third parties e.t.c.
  9. ERROR: Okolo(1988): this refers to unintentional mistakes in preparing financial statements.
  10. AUDIT PROGRAMME: Austin .O. Okolie (2007): is a list of audit assignments detailing work to be carried out by the auditor.

REFERENCES

Anyaduba, J.O. (1996): “Financial statements: still a long way to go”. ICAN News volume 1 No2 Victoria Island Lagos. A publication of The Institute of Chartered Accountants of Nigeria.

Arens, A.A. (1984): Auditing An Integrated Approach 3rd Edition Prentice Hall Int. Englewood Cliffs New Jersey.

Austin.O. Okolie (2007): Fundamentals of Audit 3rd Edition Benin city. Nono publishers.

Mautz, R.K and Sharaf, H.A (1961): The philosophy of Auditing, American Accounting Association, Florida U.S.A.

Mellichamp, A.H (1990): Auditing, An Instructional manual for Accounting Students. 5th Edition London D.P publications limited shepherds. Bush Green.

Okolo, J.U. (1987): The concept and practice of Auditing Ibadan Evans Brothers Limited.

Vivian R.V Copper (1977) Statement manual of Auditing. Gec and Co publisher 1. Hod London and Albon 1977.

 

Get the Complete Project

This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.

Click here to Get this Complete Project Chapter 1-5

 

 

 

 

 

You can also check other Research Project here:

  1. Accounting Research Project
  2. Adult Education
  3. Agricultural Science
  4. Banking & Finance
  5. Biblical Theology & CRS
  6. Biblical Theology and CRS
  7. Biology Education
  8. Business Administration
  9. Computer Engineering Project
  10. Computer Science 2
  11. Criminology Research Project
  12. Early Childhood Education
  13. Economic Education
  14. Education Research Project
  15. Educational Administration and Planning Research Project
  16. English
  17. English Education
  18. Entrepreneurship
  19. Environmental Sciences Research Project
  20. Guidance and Counselling Research Project
  21. History Education
  22. Human Kinetics and Health Education
  23. Management
  24. Maritime and Transportation
  25. Marketing
  26. Marketing Research Project 2
  27. Mass Communication
  28. Mathematics Education
  29. Medical Biochemistry Project
  30. Organizational Behaviour
  31. Other Projects
  32. Political Science
  33. Psychology
  34. Public Administration
  35. Public Health Research Project
  36. More Research Project
  37. Transportation Management
  38. Nursing

Education

 

 

 

Need a Project Writer for a Different Topic

Full Project – THE ROLE OF AN AUDITOR IN SMALL BUSINESS ORGANISATIONS

Click here to Get The Complete Research Project Chapter 1-5

RESEARCH PROJECT CONTENTS
CHAPTER ONE - INTRODUCTION
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research Hypotheses
1.5 Significance of the study
1.6 Scope and limitation of the study
1.7 Definition of terms
1.8 Organization of the study
CHAPETR TWO – LITERATURE REVIEW
2.1. Introduction
2.2. Conceptual Framework
2.3. Theoretical Framework
2.4 Empirical Review
CHAPETR THREE - RESEARCH METHODOLOGY
3.1 Research Design
3.2 Study Area
3.3 Population of the Study
3.4 Sample Size and Sampling Technique
3.5 Instrument for Data Collection
3.6 Validity of the Instrument
3.7 Reliability of the Instrument
3.8 Method of Data Collection
3.9 Method of Data Analysis
3.9 Method of Data Analysis
3.10 Ethical Considerations
CHAPTER FOUR - DATA PRESENTATION AND ANALYSIS
4.1. Introduction
4.2 Demographic Profiles of Respondents
4.2 Research Questions
4.3. Testing of Research Hypothesis
4.4 Discussion of Findings
CHAPTER FIVE – SUMMARY, CONCLUSION & RECOMMENDATIONS
5.1 Introduction
5.2 Summary
5.3 Conclusion
5.4 Recommendation
REFERENCES
APPENDIX


Frequently Asked Questions | PenViewWriting.com

Frequently Asked Questions

How do I get my choice complete project on any topic?
To get your choice of complete project on any topic, simply click on the Download button above. Once you do that, follow the simple procedure stated on the page to complete the process. The steps are easy and straightforward, ensuring you can quickly access the full project without stress. You may be required to provide some basic details or confirm your selection before the download begins. After completing the procedure, the project will be available for you to save on your device. This method guarantees you receive the exact project topic you want in a complete, ready-to-use format.
I have a fresh topic that is not on your website. How do I go about it?
If you have a fresh topic that is not listed on our website, don’t worry—you can still get a complete and well-prepared research project. All you need to do is chat with us directly on WhatsApp or contact our Instant Help Desk. Once you share the details of your topic, our team of experts will guide you through the process and provide a custom-written research project tailored specifically to your requirements. This ensures that even if your topic is new, unique, or uncommon, you will still receive a high-quality, original project that meets your academic needs.
How fast can I get this complete project on any project topic?
You can get your complete project very quickly, depending on your needs. If you want this exact project topic without any adjustments or modifications, it will be ready for you to download within 15 minutes. The process is fast, simple, and convenient, ensuring you don’t waste time waiting. However, if you require some changes, customization, or a fresh project written from scratch, the delivery time may take a little longer, depending on the scope of work involved. Either way, we are committed to ensuring you get your complete project promptly to meet your academic deadlines.
Is it a complete research project or just materials?
It is a Complete Research Project, not just research materials or excerpts. This means you will receive everything you need in a standard academic project format. Specifically, the package includes Chapters 1 to 5, a well-written Abstract, a detailed Table of Contents, complete References, and where applicable, Questionnaires or Secondary Data. Each section is carefully structured to meet academic requirements, making it suitable for submission or further customization. So, when you download, you’re not just getting scattered notes but a fully developed research project that is ready for use, study, or adaptation to your specific academic needs.
What if I want to change the case study for this topic?
If you would like to change the case study for this topic, it’s very easy. Simply chat with our Instant Help Desk now via +234 708 7083 227, and you will get an immediate response. Our team will assist you in modifying the project to reflect the new case study of your choice. This ensures the content remains relevant and tailored to your academic requirements. Whether you want to switch to a different organization, location, or sample population, our experts will make the necessary adjustments promptly, so you still receive a complete and well-structured research project without any hassle.
How will I get my complete project?
Your Complete Project Material will be delivered directly to your email address for easy access and use. The file will be sent in Microsoft Word document format (MS Word), which allows you to easily read, edit, and customize the content to suit your specific requirements. This format is widely accepted for academic work and ensures you can make adjustments such as changing the case study, updating references, or adding personal inputs if needed. Once the project is sent, you can download it to your device immediately and begin working with it without any extra steps or complications.
Can I get my Complete Project through WhatsApp?
Yes! You can also receive your Complete Research Project directly through your WhatsApp number for convenience. Once your project is ready, we can send the full material in MS Word format straight to your WhatsApp, making it quick and easy for you to download and access on your phone or computer. This option is especially helpful if you prefer instant delivery, faster communication, or easier access on mobile devices. Whether through email or WhatsApp, you will still get the same complete project—including all chapters, abstract, references, and questionnaires where applicable—delivered securely and without delay.
What if my Project Supervisor made some changes to a topic I picked from your website?
If your project supervisor has made some changes to the topic you picked from our website, there is no need to worry. Simply call our Instant Help Desk now on +234 708 7083 227, and you will get an immediate response. Our team will assist you in adjusting the project to reflect your supervisor’s corrections or modifications. Whether it involves rephrasing the topic, changing the case study, or adding specific requirements, we will make the necessary updates quickly. This ensures your project aligns perfectly with your supervisor’s expectations while still maintaining a complete, high-quality research structure.
Do you assist students with Assignment and Project Proposal?
Yes! We also assist students with Assignments and Project Proposals in addition to complete research projects. If you need help with writing, structuring, or editing your proposal or assignment, our team is ready to guide you and provide the necessary materials. Simply call our Instant Help Desk now on +234 708 7083 227, and you will be attended to immediately. We provide professional support to ensure your work meets academic standards, whether it’s a proposal for approval, a class assignment, or a full project. This way, you can save time, reduce stress, and achieve excellent results.
What if I do not have any project topic idea at all?
Smiles! 😊 We’ve totally got you covered if you don’t have any project topic idea at all. Our team specializes in helping students brainstorm and select suitable topics that align with their field of study, interests, and academic requirements. All you need to do is chat with us on WhatsApp now via +234 708 7083 227 to get instant help. We will provide you with a list of well-researched, relevant, and trending project topics to choose from. Once you make your choice, we’ll guide you through the next steps, ensuring you get a complete project tailored just for you.
How can I trust this site?
You can trust this site because we are genuine and duly registered with the Corporate Affairs Commission (CAC), which gives you confidence that we are a recognized and legitimate business. In addition, our platform is protected with Secure Sockets Layer (SSL) encryption, meaning all your personal details, communications, and financial transactions are highly secure and safe from unauthorized access. Over the years, we have successfully assisted thousands of students with research projects, proposals, and assignments, building a solid track record of reliability. With these measures in place, you can be assured of our credibility, professionalism, and commitment to your academic success.
Customer Testimonials | Https://azresearchconsult.com.ng

Our Customers are Happy

Ademola A.

★★★★★

I was skeptical at first, but after placing my order, my full project arrived in my email in under 15 minutes! The process was smooth, clear, and professional. Truly amazing service!

Kwabena K.

★★★★★

I needed a custom project on a new topic. Https://azresearchconsult.com.ng delivered within 3 days, and the quality was outstanding. They even guided me on how to defend it. Highly recommend!

Michael H.

★★★★★

Fast, reliable, and very professional. My research project was delivered on time, with no hidden charges. The team is trustworthy and supportive.

Fatou B.

★★★★★

I got my full project in minutes and my custom request within 3 days. Their communication is clear, and the material is top-notch. Excellent experience!

James O.

★★★★★

https://azresearchconsult.com.ng is a lifesaver! My project was delivered exactly as requested. The team is friendly, professional, and highly responsive. Very satisfied!

Ngozi E.

★★★★★

I was worried about paying online, but the team reassured me and delivered my complete project instantly. Transparent and professional service!

Ama S.

★★★★★

I requested a custom topic project and received it in just 3 days. The guidance and quality were excellent. I recommend azresearchconsult.com.ng to everyone!

Sarah W.

★★★★★

The service is dependable and efficient. My project arrived on time, and every step was transparent. Truly a professional service I trust.

Emmanuel T.

★★★★★

Fast and reliable. My full project was delivered in minutes, and the custom project in 3 days. Communication was excellent throughout.

Aisha N.

★★★★★

Extremely satisfied with the service. My project was delivered promptly, fully transparent, and of high quality. A trustworthy academic partner!

Related Posts