AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE (A CASE STUDY OF INNOSON INDUSTRY NIGERIA LIMITED)

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ABSTRACT
This project titled Audit Efficiency as a tool for improving company’s performance with special emphasis on Innoson Industry Nigeria Limited Enugu is sadled with such problem as complexity of responsibility misappropriation of fund gross mismanagement and embezzlement, excess expenditure incompatible with budget and inability of audit department to indicate errors and lack of necessary cooperation.  Auditors necessitated the formation of the objective of this study which intends to findout same of the reasons for deficiencies and inefficiencies in the company to establish ways to eradicating the abnormities against the application of efficient audit, as well as point to how competent the auditor have been in determining appreciation weakness in the organization.  To tackled this problems, the research questions and hypothesis while formulated.  The procedures and processes adopted was the descriptive research method.  This method was questionnaire, oral interview, telephone conversations and observation as sources of guarding primary data. Out of a population of 648 a sample of size of 155 was drawn using Taro Yamani. This sample size was allocated to the care departments of this organization using Kumar-Sam’s of a population of 648 a sample of size of 155 was drawn using Taro Yamani. This sample size was allocated to the care departments of this organization using Kumar-Sam’s formula.  The hypotheses of these researches were tested using the Z Test.  The following were the research finding. This shows that record keeping and documentation is good and that staff are efficiently executing their jobs. It was also discovered that Innoson Industry Nigeria Limited based her employment on merit and due process.  Auditing in Innoson is a yearly affair because it is mandated by law to audit her accounts once every year.  However, internal audit is an every year affair. In conclusion, a good company, should have auditing process to improve the performance of the company.

TABLE OF CONTENTS
Title pageii
Dedication iii
Acknowledgement iv
Abstract v
Table of contentsvi

CHAPTER ONE
1.0Introduction1 
1.1Background of study1
1.2Statement of the problem2
1.3Objectives of the study3
1.4Research Questions4
1.5Research Hypothesis5
1.6Significance of the study 6
1.7Scope and Limitation of the study7  
1.8Definition of Terms9 

CHAPTER TWO            
2.0Review of Related Literature   11
2.1Historical Background of Innoson Industries Nigeria   11
2.2Historical Background of Auditing   13
2.3Purpose of Auditing   17
2.4 Selection of Auditors   20 2.5Audit Of Management   21
2.6Collection and Evaluation Evidence   22
2.7Evaluation of Internal Control System   28
2.5Planning For an Auditor  47
2.6Internal Auditors Importance  49
2.7Procedure for Efficiency in Auditing  51
2.8Reliance on other auditors.  52
2.9Role Auditing In Companies    52
2.10Preparation of Audit Report  53

CHAPTER THREE:
3.0Research Design and Methodology57
3.1Research Design 58
3.2Sources of data59
3.2Primary sources of data59
3.4Secondary sources of Data62
3.5Population and sample size determination63
3.6Method of Investigation 66 

CHAPTER FOUR:
Data Presentation, Analysis and Interpretation68
4.1Preliminary information68
4.2Test of Hypothesis81

CHAPTER FIVE
Summary of Findings, and Conclusions 
5.1Summary of Findings88
5.2Conclusions89
Bibliography
Appendix 

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APA

Kings, S. (2018). AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE (A CASE STUDY OF INNOSON INDUSTRY NIGERIA LIMITED). Afribary. Retrieved from https://afribary.com/works/auditing-efficiency-as-a-tool-for-improving-company-rsquo-s-performance-a-case-study-of-innoson-industry-nigeria-limited-3467

MLA 8th

Kings, Solomon "AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE (A CASE STUDY OF INNOSON INDUSTRY NIGERIA LIMITED)" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/auditing-efficiency-as-a-tool-for-improving-company-rsquo-s-performance-a-case-study-of-innoson-industry-nigeria-limited-3467. Accessed 22 Feb. 2024.

MLA7

Kings, Solomon . "AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE (A CASE STUDY OF INNOSON INDUSTRY NIGERIA LIMITED)". Afribary, Afribary, 29 Jan. 2018. Web. 22 Feb. 2024. < https://afribary.com/works/auditing-efficiency-as-a-tool-for-improving-company-rsquo-s-performance-a-case-study-of-innoson-industry-nigeria-limited-3467 >.

Chicago

Kings, Solomon . "AUDITING EFFICIENCY AS A TOOL FOR IMPROVING COMPANY’S PERFORMANCE (A CASE STUDY OF INNOSON INDUSTRY NIGERIA LIMITED)" Afribary (2018). Accessed February 22, 2024. https://afribary.com/works/auditing-efficiency-as-a-tool-for-improving-company-rsquo-s-performance-a-case-study-of-innoson-industry-nigeria-limited-3467