ABSTRACT
Modern companies can be very large with multination. The preparation of the accounts of such groups is a very complex operation involving the brinding together and summarizing of account of subsidiaries with differencing conventions, legal system and accounting and control systems. The examination of such account by independent experts trained in the assessment of financial information is of benefits to those who control and operate such organizations as well as to owners and outsides. Also financial statements are required to conform to the very detailed and complex requirement of statement of standard accounting practice. It is essential that an audit should be carried out on the financial statements to ensure that they conform to these requirements. In order to ensure that an audit is carried out effectively and efficiently, the work needs to be planned, controlled, and recorded at each stage of its progress regardless of the size of the enterprise concerned. This research work will highlight the auditing procedures of planning and control in accounting firm. In conclusion, the audit planning and control format must be diligently undertaken to ensure that audit output conforms to auditing standards so as to guarantee credibility and reliability on financial statements.
TABLE OF CONTENTS
Cover page
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Abstract v
List of table vi
Table of contents vii
CHAPTER ONE : INTRODUCTION
1.1 BACKGROUND OF STUDY 2
1.2 STATEMENT OF PROBLEM 5
1.3 OBJECTIVES OF THE STUDY 6
1.4 RESEARCH QUESTIONS 7
1.5 SIGNIFICANCE STUDY 8
1.6 SCOPE OF THE STUDY 8
1.7 LIMITATION OF THE STUDY 9
1.8 FORMULATION OF HYPOTHESIS 9
1.9 DEFINITION OF TERMS 10
REFERENCES 13
CHAPTER TWO : REVIEW OF RELATED LITERATURE
2.1 DEVELOPMENT OF AUDITING IN NIGERIAN 14
2.1.1 LEGAL BACKING OF AUDITING 15
2.2 THE OBJECTIVE OF AN AUDIT 19
2.3 ADVANTAGE OF AN AUDIT 22
2.7 AUDITING PRINCIPLES STANDARD AND
GUIDELINES 23
2.8 PLANNING AND CONTROL IN AUDITING 25
2.9 FUNCTION OF ACCOUNTING FIRM 32
2.7 AUDITING PROCEDURE ACCOUNTING FIRMS 3 5
2.8 PROBLEM OF AUDITING 45
CHAPTER THREE: RESEARCH DEING AND METHODOLOGY
3.1 SOURCE OF DATA 47
3.2 SAMPLE SIZE SELECTION 49
3.3 DESCRIPTION OF INSTRUMENT FOR
DATA COLLECTION 50
3.4 MODE OF DATA ANALYSIS 50
3.5 STATISTICALLY METHOD USED FOR DATA
ANALYSIS 50
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA
4.1 ANALYSIS OF DATA 52
4.2 TEST OF HYPOTHESIS 67
CHAPTER FIVE: FINDINGS, CONCLUSION AND RECOMMENDATIONS
RECOMMENDATIONS 73
CONCLUSION 76
BIBLIOGRAPHY 79
APPENDIX 80
QUESTIONNAIRE 81-85
LIST OF TABLES
Table 4.1: Does your firm have other branch offices outside Enugu.
Table 4.2: Does your firm engage in audit services
Table 4.3 Does your firm have a standard and adequate plan and performance formed for your audit planning and control
Table 4.4 Do you employee the same plan and performance format in all your branches
Table 4.5: Is this plan and performance format in accordance with the international audit principles and concepts?
Table 4.6 do you comply with your audit planning and control format throughout you audit
Does the size and complexity of a clients business effect the format to be used?
Table 4.8: With close look at your format, what are your primary objectives of audit planning and control?
Table 4.9: In carrying out the audit work who amongst the staff are sent out to do the job?
Table 4.12: Do audit fees always commensurate with audit work required?
Table 4.13: Do the size of the audit fees effect your level of planning and control in audit work?
Table 4.14 is your audit procedures adequate for achieving your audit objectives?
Table 4.15 do you hope to change your audit planning and control format?
Table 4.16: What conditions will necessitate to the changes in your audit planning and control format.