AUDITING, IMPLEMENTATION AND PERFORMANCE IN NIGERIA’S PUBLIC SECTOR
Keywords:
Auditing, Performance, Expenditure efficiency, Public valueAbstract
This study evaluates auditing, implementation, and performance as it pertains to the public sector. The study employed primary source data culled via questionnaire and utilized the cross-sectional research design and a sample of eight public parastatals located in Rivers State, and adopting two dimensions for audit quality which are audit rules and internal audit quality and two fundamental measures of performance which includes expenditure efficiency and public value. The study found that audit and performance in the public sector with special focus on selected public sector organization has a great level of association as shown by the statistical analysis as carried out by the study as it was discovered that auditing procedure exhibited a significant relationship to expenditure efficiency of public institutions in Port Harcourt, Rivers state and auditing procedure exhibited a significant relationship to resource acquisition of Public institutions in Port Harcourt, Rivers state. Auditing rule exhibited a significant relationship to expenditure efficiency of public institutions in Port Harcourt, Rivers state, auditing rule exhibited a significant relationship to resource acquisition in Port Harcourt, Rivers state and organizational structure did not influence the association between audit and performance, It was thus advised that auditing be made an obligatory obligation in the public sector over regular auditing, and that audit reports be made public in order to achieve high levels of openness and accountability.
References
Adams, M.B. (1994). Agency theory and the audit, managerial auditing. Journal, On-line http://www.emeraldinsight.com.
Agbo, S., & Aruomoaghe, J. A. (2014). Audit: A tool for fighting corruption in the Nigeria’s public sector administration. International Journal of Management and Sustainability, 3(6), 374-383.
Aigheysi, O.S (2013), The relative impacts of federal capital and recurrent expenditures on Nigeria’s economy (1980-2011), American Journal of Economics, 3(5): 210-221.
Arthur, M. (1994) Information technology audit, Oxford University press, UK.
Asuquo, A. I., & Akpan, A. U. (2012). Professional ethics as instruments for effective and efficient financial management in the Nigerian public sectors: A Scientific Approach. 1-7.
Chinweoke, N, Njoku, R & Nwaeze, O.P (2014), Impact of government expenditure on Nigeria’s economic growth (1992 – 2011), The Macrotheme Review 3(7), 79 – 87.
Committee of Sponsoring Organization (COSO) (1992). Internal control integrated framework: Executive Summary. www.coso.org.
Copeland, J. (2008) Financial modeling and capital budgeting. Los Angeles, California: Addison Wisely Publishing Company.
David, H. (1999) Audit principles risk assessment and effective reporting, SANS Press, New York.
Dye, R. A (1993): Auditing standards, legal liability, and auditor wealth. Journal of Political Economy10(115), 887-914.
Ebimobowei, A., & Kereotu, O. J. (2011). Role theory and the concept of audit expectation gap in South-South, Nigeria. Current Research Journal of Social Sciences, 3(6), 445-452.
Enofe, A., Fyneface, A. N., & Oladutire, E. O. (2013). Audit and corporate financial performance: Banks in Rivers State. Research Journal of Finance and Accounting, 4(7), 22-29.
Fargason, J. S. (1993) Legal auditing and the federal sentencing guidelines. Journal of the Institute of Auditors, Altamonte Springs.
Goodman, R.A. (1994). Technology in computerized auditing, sage page, New York.
Hitt, M. A., Hoskisson, R. E, Richard A. Johnson, R.A & Douglas D. Moesel.D.D (1996) The market for corporate control and firm innovation. The Academy of Management Journal 39(5):1084-1119
ICAN (2009). Advance Auditing and Assurance: PE1 Study Pack. VI Publishers. Lagos.
Institute of Auditors Research Foundation (1994). System Audibility and Control.
INTOSAI (2001). Independence of supreme audit institutions. Final task force report.
Jacobs, J. (1992). Systems of survival: A dialogue on the moral foundations of commerce and politics (p. 132). New York: Random House.
JoelFont, (2009), Nigeria: corrupt auditors and auditing practices, Retrived online: https://auditjournal.wordpress.com/2009/10/13/nigeria-corrupt-auditors-and-auditing-practices.
Kaliski, B. (2001). Social responsibility and organizational ethics, New York, Macmillan Reference, pp. 140-150.
Kalu, U. (2011). ICAN Financial reporting and ethics manual. Kalma associates. Lagos.
Manaf, N. (2010). The impact of audit: The New Zealand experience. Master thesis, Victoria University of Wellington.
Mawanda, S. P. (2008). Effects of internal control system on financial performance in Uganda’s institution of higher learning. Dissertation for award of MBA in Uganda Martyrs University.
Morris, J. J. (2011). The impact of enterprise resource planning (ERP) systems on the effectiveness of internal controls over financial reporting.
Odia, J. O. (2014). Auditing and public sector accountability in Nigeria: The roles of supreme audit institutions (SAIs). Asian Journal of Management Sciences & Education 3(2), 102-109.
Office of the Auditor General (OAG) (2009). Audit reports. Website: http://www.oag.govt.nz/reports/reports/by-type/performance-audits.
Oladipupo, A.O., (2005). Auditing and investigation: Theory and practice. Benin City, Nigeria: Mindex Publishers
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
