THE AUDITOR AS AN INDISPENSABLE PART OF A PROFITABLE BUSINESS ORGANIZATION (A CASE STUDY OF AUDITING PRACTICE COMMITTEE)

Now that we have attained democracy, many countries of the world will be expecting to invest in this country therefore there must be a vast changes in the mature of business organisations. Precisely, to cope up with the vast changes the need for competent auditor can be over emphasized.

In these changing times, auditing as a discipline born out of the need to discourage and stop fraud, ought to be facing the greatest challenges of time. The growth of auditing can only be in developing complex means of combating complex fraudulent acts in changing times.

However, form the foregoing, there still appears a large gap existing between the general publishes expectations that financial misappropriation should be detected by audit roles have changed tremendously, it is hoped that the changing roles of auditing should at last be a deferent to fraud. If the rate of fraud and distress in banks continues to escalate as it is doing now. It should be clear to the auditing profession that they may be needed to play their traditional role. Based on the information gathered from questionnaires and analysis made from the result from interviews conducted, it can be observed that to achieve profitable business organizations, audit functions are very important.

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