THE ROLE OF INTERNAL AND EXTERNAL AUDITORS IN BUSINESS ORGANISATION (A CASE STUDY OF OLORUNTOGBE INNOVATIVE LINK COMPANY LIMITED OWO, ONDO STATE)

The practice of auditing has its origin in the necessity for the institution of some system of check upon persons whose business it was to record the receipt and disbursement of' moneys on behalf of others. In the early stages of civilization the methods of account were so crude, and the number of transactions to be recorded so small, that each individual was no doubt able to check for himself all his transactions, but as soon as the ancient states and Empires acquired any coherent organization, records, are found of systems of check being applied to their public accounts, therefore, the ancient Egyptians, the Greeks, and the Romans, all having utilized systems of checks and counter-check as between the various financial officials.

 

TABLES OF CONTENT

Title page        …        …        …        …        …        …        …        …        …        i

Certification    …        …        …        …        …        …        …        …        …        ii

Dedication      …        …        …        …        …        …        …        …        …        iii

Acknowledgement      …        …        …        …        …        …        …        …        iv

Table of content          …        …        …        …        …        …        …        …        vi

Abstract          …        …        …        …        …        …        …        …        …        x

CHAPTER ONE:  INTRODUCTION

1.1       Background of the study        …        …        …        …        …        …        1

1.2       Statement of the problem       …        …        …        …        …        …        5

1.3       Research question       …        …        …        …        …        …        …        6

1.4       Objectives of the Study          …        …        …        …        …        …        7

1.5       Hypothesis ……        …        …        …        …        …        …        …        7

1.6       Significance of the Study       …        …        …        …        …        …        8

1.7       Limitation of the Study          …        …        …        …        …        …        9

1.8       Definition of Terms    …        …        …        …        …        …        …        9

CHAPTER TWO: LITERATURE REVIEW

2.1       Literature Review       …        …        …        …        …        …        …        10

2.2       Historical Background            …        …        …        …        …        …        11

2.2.1    The Nature and Definition of an audit …      …        …        …        …        11

2.3       Conceptual Framework           …        …        …        …        …        …        12

2.3.1    The Objects of an Audit         …        …        …        …        …        …        12

2.4       Theoretical Consideration       …        …        …        …        …        …        14

2.4.1    The Detention of Errors          …        …        …        …        …        …        14

2.4.2    Errors of Omission      …        …        …        …        …        …        …        15

2.4.3    Errors of Commission…        …        …        …        …        …        …        15

2.4.4    Clerical Errors …        …        …        …        …        …        …        …        15

2.4.5    Errors of Principle       …        …        …        …        …        …        …        15

2.4.6    Compensation Errors …        …        …        …        …        …        …        16

2.5       Classes of Audits and their Merits……        …        …        …        …        16

2.6       Audit of the Account of Private Firms …      …        …        …        …        18

2.7       The Conduct of an Audit       …        …        …        …        …        …        20

2.8       Review of Current Literature…         …        …        …        …        …        22

2.9       Audit of Expenditure Accounts         …        …        …        …        …        25

2.10     The Auditors Report …          …        …        …