PROBLEMS AND PROSPECTS OF AUDITING IN GOVERNMENT ORGANIZATION (A CASE STUDY OF FEDERAL MORTGAGE BANK ENUGU STATE)

ABSTRACT

    The  topic  of  this  research  is  problems  and  prospects  of  auditing  in government organization, the population of the study was 82 while the research used yaro Yamani formula in the determination of the sample

        size  which  was  68.The  researcher  used  both  the  primary  and  the secondary  sources  in  obtaining  the  relevant  data  used  in  the  course  of the study. The primary data was collected using the questionnaire while

        that  of  the  secondary  data  was  obtained  using  written  textbooks,journals, magazines, newspapers, and the use of library. The researcher used chi-square in the testing of the hypothesis formulated while simple

        percentages were used in analyzing the research questions. Some of the problems  bound  to  be  encountered  when  auditing  government establishments  are  embezzlement  of  funds  by  some  government

        officials,  deficiency  in  confirming  accounts  receivable  and  failure  to exercise  due professional  care. Some  findings  were  made  of which  one out  of  them  is  that  financial  reports  submitted  are  not  in  consonance with  the  transactions  carried  out  by  the  government  establishment.

  Recommendations were also made of which one out of them is that the auditor  should  maintain  his  position  of  independence  as  much  as possible.