ABSTRACT
The Nigeria economy with the first half of the century experienced quite a lot business failure. Business failure can be defined as the inability of a particular business enterprise to continue to function as a ‘ going concern’’. This development has started generating anxiety by both international and local investors in arriving at investment decision. However, the task of identifying the root causes of corporate collapse is what this study seeks after. This study is carried out at ensuring a survival dosage of business in post- Harcourt through the use of accounting profession (auditing) to appraise operational performance.Some of the causes of business failure include mismanagement Bribery and corruption, and poor remuneration etc. the brain behind the failure of business in the political undertone in the management positions.Based on the findings in the study, the following conclusion were dawn, mismanagement, mode of appointment and selection of key officer, poor co-ordinates management device, government inference, and privatization and commercialization programme.Finally, it is recommended that business should appreciated the importance of audit as a tool evaluating performance, appointment of board of directors and top management officers should be based on skill, should also institute its commercialization and privatization programme in place etc.
TABLE OF CONTENT
COVER PAGE
TITLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOWLEDGMENT
ABSTRACT
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1OBJECTIVE OF THE STUDY
1.2STATEMENT OF PROBLEM
1.3STATE OF HYPOTHESIS
1.4SIGNIFICANCE OF THE STUDY
1.5SCOPE OF THE STUDY
1.6LIMITATION OF THE STUDY
1.7DEFINITION OF TERMS
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1INTRODUCTION
2.2THE GOING CONCERN OF BUSINESS
2.2.1DEFINITION OF BUSINESS
2.2.2FORMS OF BUSINESS
2.2.3IMPORTANCE OF BUSINESS
2.2.4WHEN A BUSINESS IS NOT GOING CONCERN
2.2.5WHEN A BUSINESS MAY NOT BE A GIONG CONCERN
2.3SYMTOPMS OF IMMINENT BUSINESS FAILURES
2.4NATURE AND CAUSES OF BUSINESS FAILURES
2.5THE DEVELOPMENT OF ACCOUNTIGN PROFESSION
(AUDITING).
2.5.1DEFINITION OF AUDITING
2.5.2TYPES OF AUDIT
2.5.3THE AUDITOR AND TH DANGER OF SELF FULFILMENT PROPHESY
2.5.4 IMPORTANCE OF AUDITING
2.5.5THE AUDIT COMMITTEES
2.5.5.1NATURE OF AUDIUT COMMITTEES
2.5.5.2COMPOSITION OF AUDIT COMMITTESS
2.5.5.3FUNCTIONS OF AUDIT COMMITTEES
2.5.5.4QUALIFICATION OF AUDIT COMMITTEES
2.5.5.5SIZE OF AUIT COMMITTEES
2.5.5.6AUDIT COMMITTEES RELATIONSHIP WITH AUDIOR
2.6THE EFFECT OF BUSINESS FAILURES ON A DEPRESSED ECONOMY.
CHAPTER THREE
RESEARCH DEISGN AND METHODOLOGY
3.1INTRODUCTION
3.2RESEARCH DESIGN
3.3SAMPLING TECHNIQUES
3.4QUESTIONNAIRES DESIGN
3.5DATA COLLECTION TECHNIQUES
CHAPTER FOUR
PRESENTATION OF DATA ANALYSIS
4.1DATA PRESENTATION AND ANALYSIS
4.2TEST OF HYPOTHESIS
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATION
5.1SUMMARY OF FINDINGS
5.2CONCLUSION
5.3RECOMMENDATION (S)
5.4SUGGESTION FOR FURTHER STUDIES
BIBLIOGRAPHY
APPENDIX: QUESTIONNAIRE