ANALYSIS OF AUDIT PROCEDURE IN A PUBLIC SECTOR ORGANIZATION (A CASE STUDY OF KADUNA STATE WATER BOARD)

ABSTRACT

Auditing is an essential tool for proper governance in the public sector. It constitutes an indispensable control mechanism for ensuring proper management of economic resources and for ensuring compliance with prescribed financial policies and regulations.

Effective audit procedures become important to the public sector organization in order to curtail the rate of financial mis-management and abuse which hampers the growth and proper administration of the organization.

 

Auditing in the public sector has extended more than the traditional financial statement audit to the value for money audit. This audit is concerned with the economy, efficiency and effectiveness of a particular function or department within the body whose affairs are being audited.

For the purpose of the study, data were collected through the use of questionnaire, observation and other written documents.

Major findings of the research shows:

-      That auditing cannot exist without the preparation of accounts.

-      That auditing has helped to uncover irregularities, error and other financial mismanagement.

-      That auditing is imperative in public sector as it would help them motivate and maintain operational autonomy and will alongside help them ensure economic stability.  

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