ABSTRACT
This study by introducing the subject of the project work: the impact of auditing in controlling fraud and other financial irregularities. In chapter one, the researcher gave a background to the study, stating the problem, objective, scope, and limitation of the study and went further to define some terms relating to the study. In chapter two the related literature was reviewed, the depth of the stud and how the auditing can control fraud was reviewed. Finally, the researchers state his summary. Conclusion and necessary recommendation.
CHAPTER ONE
INTRODUCTION OF THE STUDY
In a various public company, the statutory requirement for the management is to present to the owners and other interested parties (creditors, tax authorities, potential investors, etc.) a financial statement showing the way and manner in which the resources of the company at the manager's disposal has been utilized or managed. This serves as the stewardship function of the management. However, before this financial statement can be accepted and is published. It must have been certifying by an auditor to be the true statement of the affairs of the business. Hence auditing is an independent examination of the financial statement of an organization with a view to expressing an opinion as to whether this statement gives a true or false view and comply with the relevant status. This primary objective of the audit is drive form section 360 of companies and allied matters decree (CAMD) 90 is to find out;
-Whether the financial statements have shown are true and fair view and comply with the relevant status
-Whether the financial statement is in agreement with the records
-Whether proper records are being kept under a secondary or subsiding object of an audit, which are;
Detection of errors fraud and irregularities
Prevention of fraud and other financial irregularities
These two are also the objective of conducting an audit as it is, however, the responsibility of the management to control and detect fraud and other irregularities conferred on them by section 331 of the (CAMD) 90. Irrespective of the above fact, the editor in the course of auditing is expected to approach this professional opinion with truth and fairness of the financial position as shown by the balance sheet and of the profit or lose as shown by the profit and loss account and any other information required by the law to be disclosed in the financial statement. In the cause of carrying out this above mention duty, the auditor should regencies the responsibility of material misstatement, financial irregularities or fraud which unless adequately disclose distort the result of the state of the affairs shown by the financial statements.
OBJECTIVE OF THE STUDY
1. As earlier stated earlier, the aim of the auditing is to detect fraud and irregularities but also to examine the financial statement presented by the management in order o give an opinion on whether or not the account show a true and fair view of the statement affairs of the business
2. This research is to analyze the extent to which auditing in the course of the above examination can be applied to control fraud or irregularities.
3. It is to examine how report is presented to the management and owners of the business at the end of the audit work bearing in mind the possibility of fraud and irregularity which unless if adequately disclose distort the result or state of affairs as shown by the financial statement.
4. The research work is also directed towards showing the importance of audit as regarding fraud and financial irregularities in the organization, (Nigeria coal cooperation Enugu).
5. It is to make an in-depth investigation and recommendations based on the finding to enlighten people on the impact of auditing in the controlling of fraud and financial irregularities.
SIGNIFICANCE OF THE STUDY
This study is significant in the following areas;
a. The academic
b. The editor
c. The society in general
