THE EFFECT OF INTERNAL AUDIT IN AN ORGANIZATION (A CASE STUDY OF UNIVERSITY OF ILORIN TEACHING HOSPITAL ILORIN)


THE EFFECT OF INTERNAL AUDIT IN AN ORGANIZATION (A CASE STUDY OF UNIVERSITY OF ILORIN TEACHING HOSPITAL ILORIN)  

TABLE OF CONTENTS

Title page i

Certification ii

Dedication iii

Acknowledgement iv

Table of content vi

CHAPTER ONE

1.0 INTRODUCTION

1.1 Background of the study

1.2 Problems of the study

1.3 Aims of the study

1.4 Scope of the study

1.5 Organization of the study

CHAPTER TWO

2.0 LITERATURE REVIEW

2.1 Internal review

2.2 Function of internal audit

2.3 Internal control and accounting procedure

2.4 Internal auditing as an aid to management

2.5 Comparization of internal audit department

2.6 Comparism with external auditor

2.7 Investigation of internal auditor

2.8 Internal audits report

CHAPTER THREE

3.0 RESEARCH METHODOLOGY

3.1 Historical background of the case study

3.2 Source of data

3.3 Data analysis techniques 

3.4 The organization of the internal audit department of the case study 

3.5 Limitation of the study

CHAPTER FOUR

4.0 PRESENTATION AND ANALYSIS OF THE SYSTEM CONTROL IN UITH

4.1 Data presentation

4.2 Data analysis

4.3 Testing of hypothesis

4.4 Findings 

4.5 Control on cash office

4.6 Internal sources of revenue

4.7 The major unit of audit department

4.8 External auditor

4.9 The report

CHAPTER FIVE

5.0 SUMMARY CONCLUSION AND RECOMMENDATION

5.1 Summary

5.2 Conclusion

5.3 Recommendation 

References.

CHAPTER ONE

1.0 INTRODUCTION O THE STUDY

1.1 BACKGROUND OF THE STUDY

Internal auditor constitutes parts of the structure of the internal control system, which function as a check in other work in and organization.

The internal auditors enjoy some measures of independence from organizations operating personal for the fact that they make report, the chief executive of an organization to whom they are responsible.

The external auditor is certified that the activities of the internal auditor is assured of the reliability of accounting records, he can substantially limit amount of checking’s he has to do. 

He may decide, for instance, to adopt the figure to stock on the balance sheet if he is satisfied that the internal auditor conducts a continuous check on the stock record. It has to be noted that wherever reliance the external auditors, it is done at is own risk.

Therefore, if anything goes wrong, he cannot escape the liability merely because he relied on internal auditor, the internal auditor is more intimately associated with the operation on the external auditors as to area that requires a particular attention.

Once the internal auditor departments has created its term of reference to carryout internal audit work without objection and recitation from those responsibilities. The work of internal audit is not easy, because it work is concerned with inspection apart from other control system and people normally resent being inspected.

1.2 PROBLEM FACING THE INTERNAL AUDIT DEPARTMENT IN (UITH) UNIVERSITY OF ILORIN TEACHING HOSPITAL 

Present point of view of challenges facing the internal audit department in UITH, the deficiencies in corporate government revealed buy the financial crisis, the new compliance requirement and achieving a balance between the internal audit control departments.

Enterprise risk management (ERM).

TOP FIVE CHALLENGES FACING THE CASE STUDY

1 Realigning skills to address new requirement of the audit department in UITH

2 Aligning internal audit coverage new requirement of the case study.

3 Maintaining stature with the audit committee in UITH

4 Maintaining a focus to prevent and detect fraud in audit department

5 Addressing internal auditing role in assessing risk management.

Is clear from the explanation given that the internal audit is a responsibility job.

Infarct, its involves contacting the staff of  the department for expert advise, which requires qualified skill and experience staff of the department for expert advice, which required qualified skill and experience staff, for internal audit department to function effectively it has to be adhere adequate staff with skill officers and provide necessary infrastructure.

1.3 AIMS OF THE STUDY

The study is intended to establish the importance of role of internal auditors in an organization in terms of internal control and to ensure compliance with plans and polices of an organization 

The study is further means to highlight the function of auditor and its relations with account and other department in and organization

1.4 SCOPE OF STUDY

The case of study is very important to an organization especially to the university of Ilorin Teaching Hospital management in term of internal control and to attain corrective actions where necessary.

The study covers the internal audit as it affects the following sections 

A. Salary section

B. Expenditure section

C. Revenue section

D. Purchase and supplies section

E. Final account section

F. Cash office

The study goes further to cover the procedures for the payment of suppliers and contractors in this organization as it affect the internal control system.

1.5 ORGANIZATION OF STUDY

This project is broken down into five (5) chapters, which comprises 

Chapter one: - Introduction of study and scope of study.

Chapter two: - Contains the literature review of the internal control system.

Chapter three: Deals with research methodologies, which involve sources of data, data collection methods and analysis techniques, history of university of Ilorin teaching hospital and its organization chart.

Chapter four: - The summary of the role of internal auditor in a organization finally 

Chapter five: Contains the summary conclusion and recommendations for improvement of internal audit efficiency. 

CHAPTER TWO

2.0 LITERATURE REVIEW

2.1 INTERNAL AUDITOR DEFINITION

According to (2010) internal auditor is an employee of a company’s financial and operation business activities including its corporate governance?

Internal auditors also provide evaluation of operational efficiencies and will usually report to the high’s level management in how to improve the overall structures and practice of a company.

Okolo J.U.T (1978) said, the first point one should note about the internal auditor is its purely voluntary internal audit is not required by any low as the case with statutory or external audit with regard to limited liability Company’s for example 

The second point in the question of the power and authority of the external auditor. Authority to look into any records what so ever of the company and to require the official to give him any information he needs

Then power and the authority of the internal auditor depend on the management and the level of the internal auditor in the management structure.

If for instance, are in some cases the internal auditor is part and parcel of the chief accounting officer, it is unlikely that he would be able to see any document the chief accounting officer does not want him to see.

Also is unlikely that having its own interest heart, be would write any report unfavourable to his boss i.e. the chief accounting officer for and internal auditor to be effective, he should be on highest level of management reporting directly to the general management and to the board of directors he should be of equal rank at least with the chief accounting officer and other divisional heads, and have authority to require that to provide him with records and information relating to the affairs of there respective divisions.

.

THE EFFECT OF INTERNAL AUDIT IN AN ORGANIZATION (A CASE STUDY OF UNIVERSITY OF ILORIN TEACHING HOSPITAL ILORIN)



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.NET

Researchwap.net is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.net guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.net is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.net" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.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"

    Christiana, Landmark 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!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.