Demand And Supply For Accounting And Auditing Services For Non-profit Making Organization In Edo State

The economic theory of the non-profit makings organization has witnessed significant progress in the last decades. the existence of non-profit making organizations has been attributed to a number of specific markets and government failures that creates the need for alternative institutional frameworks to perform some socially useful tasks. However, an important challenge faced by the evolving theory of this sector lies in taking account of the extraordinary heterogeneity and diversity of organization in it. The aim of this study is to present results of a systematic inquiry about the state of demand and supply of accounting and audit services for non-profit making organization in Nigeria particularly Edo State. A sample of 100 questionnaire was selected for the study randomly. Two different questionnaire were distributed and were used in gathering the primary data. The data collected were analyzed using chi-square (X2) as the statistical tool to

determine the valuation of the hypothesis. the followings indicates that non-profit making organization demand for accounting and audit services and also that audit firms supply professional services to non-profit making organization. In

conclusion weak internal communication can hurt the reliability of a non-profit making financial information about the accountability and trust of the organization to investors and the public. Auditing on the other hand lends credibility  to financial statements of the organization. The study recommend that effective internal audit system ensures operations compliance with set policies, promoting accuracy and reliability of financial information. And also proper orientation should be given to non-profit making organization owners, operations and managers on the impact of accounting and audit services on their organization's operations.

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