Select Currency
Translate this page

A CRITICAL ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR OF AN ORGANIZATIONS

Format: MS WORD  |  Chapter: 1-5  |  Pages: 78  |  736 Users found this project useful  |  Price NGN5,000

  DOWNLOAD THE FULL PROJECT

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

Auditing has existed as long as man has been required to account for their transactions. A famous example is in St. Mathew’s Gospel (Chapter 25) when the rich man went on a journey and delivered his goods to a servant to look after them while he was away. On his return, he asked each of these servants to account for the goods with which he had been entrusted. In the ancient ages, great land owners would not manage their own land, but would appoint stewards to manage their own land for them. The account of these land owners were checked by having them called out by those who gave them to those in authority (land owners) for hearing otherwise called stewardship accounting.

Auditing can be defined as the process of an independent examination of vouchers, internal control system and financial statements of an organization by a person or a group of persons called auditors so that the auditors can form and express opinion whether the vouchers, internal control system and financial statement, give a true and fair view of the organization. Auditing is carried in both the public and private sectors. In the case of public sector, there are two foremost types of audit that are carried out namely: Regulatory audit and financial audit and the third type is value for money (VFM) audit which is yet to be fully integrated in most part of the world.

According to Bechberger (2007), it is observed in the past decades that in order to fight global corruption and strengthening transparency and accountability in public sector organization across the world, public sector organizations are now under pressure from the public to integrate value for money principles in their management practices. Value for money according to National Audit Office (2007) means providing a service or a product in a way which is economical efficient and effective. Value for money audit is therefore, the type of audit that is used to asses the value for money system in any organization. It is an independent examination of the criteria (economy, efficiency and effectiveness) for the value for money to confirm that the organizations available resources are used wholly, necessarily, reasonably and exclusively so as to maximize progress towards the chosen objective.

1.2      STATEMENT OF PROBLEM

The research work “The critical analysis of value of money audit (VFM) and public sector performance in Enugu State centers on the major problems facing value for money audit in Enugu which includes:

a.  Problem of inconsistency in public sector objectives as a result of political and economic instability.

 

b.  Diversity in accounting records or lack of uniformity in accounting records system among public sector organization. 

c.  The problem of cash basis rather than actual basis in public sector accounting.

d.  The problem of insufficient emphasis of accounting and stewardship in public sector organization.

e.  Inadequate implementation of laws in Nigeria.

1.3   OBJECTIVES OF STUDY

 

The main objective of the study is to analyze the effects of value for money audit on public sector organization while the specific objectives are:-

a.  To ascertain the problem of inconsistency in public sector objectives which is as a result of political and economic instability.

b.  To examine the problem of diversity in accounting system in public sector organization in Enugu State.

c.  To determine the problem of using cash basis of accounting in public sector organization.

d.  To ascertain the problem of insufficient emphasis on accountability and stewardship in public sector organization. 

e.  To investigate the problem of inadequate implementation of laws in public sector organization in Enugu State. 

1.4   RESEARCH HYPOTHESES

In order to achieve the objectives of this research study, the following hypothesis was formulated.

Hypothesis One

 

Ho: There is no significant relationship between economic and political instability and performance of public sector organization in Enugu State.

 

Hi: There is a significant relationship between economic and political instability and performance of public sector organization in Enugu State. 

Hypothesis Two

 

Ho: There is no significant relationship between cash basis of accounting and performance of public sector organization in Enugu State.  

 

Hi: There is a significant relationship between cash basis of accounting and performance of public sector organization in Enugu State.

Hypothesis Three

 

Ho: Inadequate implementation of law had no effect on performance of public sector organization in Enugu State. 

 

Hi: Inadequate implementation of laws has been effect on performance of public sector organization in Enugu State.

1.5  RESEARCH QUESTIONS

1.  To what extent does the inconsistency in public sector objectives which is as a result of political and economic instability affect performance of public sector organization in Enugu State?

 

2.  How does the diversity in accounting records or lack of uniformity in accounting records affect the public sector organization in Enugu State?

3.  Could the problem of the use of cash basis rather than accrual basis accounting affect public sector organization in Enugu State?

4.  To what extent does the insufficient emphasis on accountability and stewardship affect public sector organization?

1.6   SIGNIFICANCE OF STUDY

This research therefore aims that value for money audit will be relevant in the public sector because of the special needs for government organizations to demonstrate their accountability and their regards for economy, effectively in the use of public funds and other resources. Value for money auditing is particularly appropriate for any organization whose activities cannot be judged solely by their contribution profit. 

 

a.  Budgeting and budgeting control

b.  The development of management information system necessary to plan, cooperate and control an organization.

c.  Human resources management (that is planning procurement appraisal) construction procurement and utilization of physical asset such as property, plant and equipment.

1.7   SCOPE OF STUDY

This work is restricted to Enugu State Water Co-operation; this work will enlighten them on how to achieve their goals with a minimum cost.

1.8  LIMITATION OF STUDY

The limitations involved in the course of this research includes hostility and non co-operation on part of executive respondent unwilling to disclose their necessary and vital information or document which they felt it will be detrimental to their business. Also the financial implication was very high and this imposed certain restrictions. The constraint of time was also a limiting factor as one the areas of interest were not covered as they would have been adequate. 

1.9   DEFINITION OF TERMS

Value for money: Providing a service for a product in way that is economical, efficient and effective.

  DOWNLOAD THE FULL PROJECT

A CRITICAL ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR OF AN ORGANIZATIONS

Not The Topic You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005


HOW TO GET THE COMPLETE PROJECT ON A CRITICAL ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR OF AN ORGANIZATIONS INSTANTLY

  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Abubakar Iliyasu Hashim
Federal college of education pankshin affiliated to university of jos
I am highly impressed with your unquantifiable efforts for the leaners, more grace to your elbow.I will inform my colleagues about your website.
Very Good
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Abdulrazak Bello Marsha
Usman Dan fodio University
It was quite a better guide for project and paper presentation purpoting. Many thanks.
Average
Peace From Unilag
I cried not knowing how to go about my project but the day i searched online and saw iprojectmaster, i called and got my full project in less than 15minutes, i was shocked!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Abdulrahman Jibrin
Nti Abaji
Nice one work prompt delivery tanx
Very Good
Abraham Ogbanje
NATIONAL OPEN UNIVERSITY OF NIGERIA
At first I was afraid.. But I discovered they are legit. I will bring more patronize
Very Good
Uduak From Uniuyo
IProjectMaster is the best project site for students. Their works are unique and free of plagiarism!
Excellent

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on A CRITICAL ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR OF AN ORGANIZATIONS?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on A CRITICAL ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR OF AN ORGANIZATIONS?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for A CRITICAL ANALYSIS ON VALUE FOR MONEY AUDIT ON PUBLIC SECTOR OF AN ORGANIZATIONS, What do i do?

Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!