THE PERFORMANCE OF AN AUDITOR AND AUDITING IN NIGERIA ECONOMY

THE PERFORMANCE OF AN AUDITOR AND AUDITING IN NIGERIA ECONOMY

BACKGROUND OF THE STUDY

An auditor of the evidence may describe an audit as an examination from which final revenue accounts and balance sheet of an organization have been prepared. In order to ascertain that they present a true and fair view of the summarized transaction for the period under review and of the financial state of the organization at the end date this enable the auditor to report their on.Therefore an auditor which is part of internal control assists all level of management of the Union bank of Nigeria limited (or any organization) of in performing periodic accounting and administrative procedures and other activities of the organization, including identifying possible means of resources.

Improving the efficiency and economy of operations and use of resources the unit independent of all other department within the bank is direct responsible to the managing director of chief executive. In carrying out assignments, the head and as appropriate, members of the audits state have unrestricted access to all Union banks records, document and personal relative to the subject under review.

1.2   PURPOSE OF THE STUDIES

The objectives of this study are to determine and evaluate:

1. The functions performed by the audit (inspection) department of Union bank of Nigeria limited and how these fairly with the management's needs and requirement.
2. The perception of the various departments and the state of the departments being audited.
3. The contribution by the audit (inspection) departments towards the overall objective of Union bank of Nigeria limited.

The management of an organization has the primary responsibility of running the business efficiently and effectively. This is achieved by the installation of a good audit control line the organizational setup. The controls include physical as well as administrative techniques. An auditor is an importance aspect of those controls the effectiveness and competencies of the inspection department limited are functions of the following:

The Caliber (qualification, experience and maturity) of state in the department.

B.    Nature of the duties, performed and the extent of their independent.

C.    The objective of their report.

The audit (inspection) department contributes as great deal to the development of Union bank of Nigeria limited. It is therefore very important that the person should be capable of understanding and interpreting the system in operation its effectiveness can be measure in term of the extent of which fraud and error are controlled and minimized and the level of compliance with the management policies and gaudiness.

With reference to Union bank of Nigeria Limited, on which the research is based, the inspection unit is a big department of about 150 staff strength most of whom are of high integrity and matured these qualities are manifested in the inspection report issued by the department.

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