Auditing project topics

As CFOs and other leaders expect internal audit teams to be strategic, focusing more on the risks and issues of the future than only those of the past, just 28 percent of surveyed chief audit executives CAEs believe their functions have a strong impact and influence within their organizations.

Heading intoit will therefore be important for CAEs to chart paths toward impacting and influencing their organizations.

But to enhance their performance, value, and influence, internal audit groups need to be ready to address a number of high-impact issues with leadership in the year ahead. In my view, four of the most pressing concerns for internal audit in will hinge around cybersecurity preparedness, contemporizing internal audit amidst rapid business innovation, culture risk management, and new regulatory reporting compliance.

What should internal auditors be ready for in terms of managing cyber risk in ? This is one of the most asked questions I encounter in my conversations with CAEs, other c-suite executives and boards. Importantly, internal audit teams must understand that cybersecurity is not just about being prepared for a breach. However, there is a tendency among some internal audit teams to close the book on cyber readiness after completing just one attack and penetration audit or computer control exercise.

Cybersecurity risk assessment guidance, such as the framework recently established by the AICPA, can then help internal audit shed light on where more clarity is needed, such as more IT governance, a better crisis response plan for when an attack occurs, and even emerging cyber talent needs across the business.

However, the ability to stay ahead of the curve requires internal audit to contemporize its approach to audit and assurance. The good news is that there are a number of new technologies and approaches in the market today to help companies become more efficient and effective in navigating disruption happening elsewhere in the business.

In the year to come, internal audit can look to a range of emerging technologies and approaches — including robotic process automation RPAanalytics, and Agile internal audit methodologies — to help produce more dynamic and automated risk assessments to help with efforts as fundamental as Sarbanes-Oxley control.

One approach that can be particularly effective in helping contemporize internal audit to the innovation happening across a business is the Agile internal audit method. Derived from Agile software principles, Agile methods foster rapid response to emerging issues, closer collaboration with stakeholders, faster delivery cycles, and streamlined reporting.

Good candidates for Agile internal audit are areas with a need for more responsive and relevant reporting — such as high-stakes projects like IT installations or merger integrations — and where internal audit groups need to do more with less.

Regulators and boards are increasingly focusing on risk culture because culture drives behavior: it largely determines decisions, conduct, and risk-taking within an organization. However, many organizations continue to treat it as a compliance issue rather than as a driver of conduct and organizational performance. As an internal audit matter, risk culture is a gray, soft and subjective area reliant upon non-traditional audit methodologies to monitor intangible drivers of risk. What should internal audit know about the business complying with new regulations and standards?

At the end of the day, boards and c-suite executives want assurance that there is a sufficient response mechanism in place for a GDPR failure or breach. Of course, there are myriad other high-impact areas that internal audit teams will need to evaluate, including third-party risk management, integrated risk and sustainability assurance, strategic and emerging risk monitoring, strategic planning, and media audits.

While not every company will be impacted by the same issues in the next twelve months, it will be important for internal audit teams across industries to analyze which emerging risks could be the most impactful to their organization and ready themselves and the business to prepare and respond accordingly.

In this way, internal auditors can work toward driving value, impact and influence in the year ahead. The most pressing concerns for internal audit in will hinge around cybersecurity preparedness, contemporizing internal audit amidst rapid business innovation, culture risk management, and new regulatory reporting compliance.

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How prepared is internal audit to manage culture risk? Search Search for:. Sign In Please enter your username to continue. Please enter your password to continue. Keep me signed in Forgot Login Create account.

Please enter your username to continue.This seems to be a national issue. The increasing incidence of fraud, embezzlement and misappropriation of funds and property by accounting officers and chief executives in the public sectors of the Nigeria economy pose pertinent questions as to whether auditing plays any significant role towards ensuring proper accountability and judicious use of funds.

Investors and other people concerned, therefore, deserved to be assured that the resources which they put at the disposal of those accounting officers are efficiently, effectively and economically managed, since it is known that not all of us are judicious in the management of our own private affairs and much less so, the public affairs assigned on to us.

Accountability has dearly manifested itself as a principle to be pursued if the status quo is meant to be perpetrated. Accountability is also defined as the tendering off return on stewardship relating to the management of funds and other assets of which individuals or institutions had been custodians.

Auditing is regarded as one of the more or recently established professions born out of the complexity of modern business world. It becomes relevant so as to discourage men from erring and to expose those who erred when they give account of how they managed the funds and property entrusted to them.

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This account is usually done by means of financial statement. In order to verify the true and fairness of this reports independence person — an auditor — will audit the account. An audit is an investigation by an auditor into the evidence from which the final revenue accounts and balance sheets or other statements of an organisation have been prepared in order to ascertain that they present a true and fair view of the summarized transactions for the period under review and of the financial state of the organisation at the end date, so enabling the auditor to report thereon.

Business organizations are economic agents, which have certain objectives to achieve. Primary among them is profit, but however, thus primary objectives might not materialize as a result of increasing the nature of fraud in the financial organization, which is as a result of perceived neglect either real or imaginary by the companies or by any of financial organisation concerned.

The nature of fraud in the financial organization have forced the companies to combine both their primary objective of profit making with audit responsibilities is faced with such problems:. The role of auditing as an aid to accountability on the public sector cannot be over —emphasized. It is very clear from the problem that banking institution require an articulated corporate auditing work in the course of their operation for survival in the light of the above, our objective for this research shall include:.

The purpose of this study is to examine the auditing as an aid to account ability on the public sector of Union Bank as it relates to the banking institution. Therefore this study will be specially limited to Union Bank Plc and other banking organisation.

However, the general operations of Union Bank will be covered. In other to properly articulate the study and the address the problems earlier stated the study would be guided by the following research questions. To analyze means to resolve into elements or parts to separate the parts in relations to the consequently, that is analysis of account involves separating the entries into a systematic classifications in order to obtain accuracy.

This is all the relevant and reliable data, facts, information or records collected by the auditor in the course of his duty that are necessary and sufficient enough to enable him draw independent conclusion and express opinion on financial statement. A term used to describe audit approach, which ignores computer operating internal control and concentrates on manual and human activities of the transactions. These are those tests, which seek to assure the auditor that the internal control procedures are being applied as prescribed.

This is in compliance with verification of assets, which is also similar to substantive testing. To investigate o inspect or to cost by appropriate method and in accordance with accepted standards.

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This is similar to compliance test but it is a test on a single transaction through its length and breadth. These are those tests on transactions and balance and other procedures such as analytical review. Means the examination of transactions of a business together with documentary and other evidence of sufficient validity of satisfy an auditor that such transaction are in order. The researcher strongly believed that this work would provide a base for user in applying a sound principle of accounting in preparation of financial statement and also ensure a cordial working condition between the employer and the employee.

It will also provide measure for the management of Union Bank Plc of Nigeria Enugu to correct all lapse within the management. The work will further enrich the library since it will be kept in the library for students to make use of in their academic and research work. It is hoped that the member of the Union Bank of Nigeria Enugu State and the permanent secretary of both state and federal ministry and other parastatal will make this work their great companion.

The nature of fraud in the financial organization have forced the companies to combine both their primary objective of profit making with audit responsibilities is faced with such problems: 1 Performance procedure of audit responsibility service 2 Determining the extent auditing work 3 Reporting of auditing activities 4 Should auditor or accountant be responsible for solving all manner of fraud problem?

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That is why you must get your project online from a company that guarantees to meet your deadline.Browse through the Accounting project topics listed below. Click on any of the Accounting topics of your choice.

Read the chapter one of the Accounting project material. Enter your contact information and email address if you want to recieve any of the Accounting project materials in your email or download instantly. The main objectives of this accounting project topic can be stated as follows: The ability to manage the past and present loss resources of the business in order to preserve the effective operations of the business after any loss The objectives of this accounting project material are to examine the internal control system in a computerized environment and see whether it provides records that will form reliable base for the preparation of account and safeguard The aims and objectives of this accounting research work is to find out the reason why some firms do not use cost volume profit analysis, in planning and control of cost, and also in decision making The aim of this accounting project topic is to research into financial operations and accounting methods used in its operations.

It is aimed at enhancing the understanding of the effect of the use of these methods on the company operations The following are the purposes of the accounting project study: to find a solution to these uncontrolled issues of policies. To look into the equitability of commercial bank profitability and liquidity This study aims at investigating the role of accounting in the control of public enterprises in Nigeria. The aim of this accounting topic is to ascertain the lack of proper segregation and proper assignment of duties as well as shortages of staffs to carry out audit duties The purpose of this study is to examine whether software accounting system can handle large volume of data than the manual accounting system The objectives of this study which are stated in null form are: to ascertain the role of independent audit towards accountability in an organization The primary aim of the accounting project research is to evaluate the fraud control measures in the Nigerian Banks practical means of reducing the incidence of fraud in our bank to achieve these objectives The broad objectives of this accounting project work are to take a critical look at the principle of Total Quality Management so as to find out how its implementation will affect an organization performance The objectives of this work are to determine if there is a connection between the type of budget implemented and their actual performance and to determine whether or not budgetary controls This study tends to find out some of the objectives which will include: to find out the effect of value for money audit in fraud detection and control in the public sector The objectives of this study are: to determine he relationship between the application of the manual accounting system and the computerized accounting system in the banking system The specific objectives are as follows: to examine whether privatization has improved the cost performance and accountability of privatized firm The objectives of this research work are: To ascertain if the introduction of computer system may lead to industrial unrest as workers resists change The objectives are essentially: to investigate concisely the budgetary control of shell as a cooperation with the view of determining their efficacy in the managerial process of the company Budgeting was undertaking with the following objectives in mind: to find out whether or not manufacturing business organizations control their levels of profit making and the means used to achieve this The major aim of this Accounting study is to determine of the effectiveness of inventory management in a manufacturing company The objectives of this study are: to know how effective inventory control is when it comes to controlling cost in an organization, to outline the relationship that exists between inventory controlAcknowledgement This PROJECT REPORT would not have been possible without the kind assistance and guidance of many persons who indeed over very helpful, co-operative bind and hospitable during the entire course of my report and express my heart felt appreciation on for all these concerned.

The word audit is derived from the Latin word audire which means to hear. It is an important tool of management.

auditing project topics

It is concerned with making an analytical and critical analysis of the books of accounts, checking and verification of evidence in support of entries appearing in the books of accounts, and ascertaining the authenticity of the financial statements. It is also concerned with the examination of accounting data to determine the extent of an audit examination is too made on the basis of evidential document such as invoice, money receipts and other records by the authorized representative of the client.

Auditor has used to send for the accountants and hear whatever they had to say in connection with the accounts. The auditor has to look into the facts behind figures and he must certify their accuracy. Auditing is to ascertain the balance sheet and profit and loss account that they show a true and fair view of the financial state of affairs of a concern. The Institute of Charted Accountants of India has issued a number of statements of standard auditing practices and accounting standards for guidance of Auditor of India.

According to DICKSEE, An audit may be said to be such an examination of the books, accounts and vouchers of a business, as will enable the auditor to satisfy himself that the balance sheet is properly drawn up, so as to exhibit a true and fair value of the state of the affairs of the business, whether the profit and loss account gives a true and fair value of the profit and loss for the financial year.

According to the best of his information and explanations given to him and as shown by the books, and if not, in what respect he is not satisfy. Auditing has its origin in the necessity in the development of some system to put a check on the persons whose duties were to record receipts and disbursements of money on the behalf of owners.

In the ancient days auditing was confined to public accounts only. With the development of trade and commerce, the need for recording transactions was felt by businessman.

This had necessitated the development of some system of check upon the persons who recorded such transactions on the behalf of businessman. The audit in its present shape is the result of large-scale production in consequence of Industrial Revolution during the 18th Century.

With the development of banking facilities, communication and transport means, the concept of corporate management has taken birth. It necessitated the investors to know whether their investment is safe or not. Shareholders need an independent person having expert knowledge of accounts to report on the working of the company and truthfulness of the profit or loss and financial position disclosed by the management.

Both accounting and auditing are closely related with each other as auditing reviews the financial statements which are nothing but a result of the overall accounting process. It naturally calls on the part of the auditor to have a thorough and sound knowledge of GAAP before he can review the financial statements. In fact, auditing as a discipline is also closely related with various other disciplines as there is lot of linkages in the work which is done by an auditor in his day-to-day activities.

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To begin with, it may be noted that the discipline of auditing itself is a logical construct and everything done in auditing must be bound by the rules of logic. The knowledge of language is also considered essential in the field of auditing as the auditor shall be required to communicate, both in writing as well as orally, in day-to-day work. For example, if the business has really earned a profit but because of wrong accounting, the annual accounts show a loss, the proprietor may take the decision to sell the business at a loss.

Thus from the point of view of the management itself, authenticity of financial statements is essential. It is more essential for those who have invested their money in the business but cannot take part in its management, for example, shareholders in a company, such persons certainly need an assurance that the annual statements of accounts sent to them are fully reliable.

It is auditing which ensures that the accounting statements are authentic. In todays economic environment, information and accountability have assumed a larger role than ever before. As a result, the independent audit of an entitys financial statements is a vital service to investors, creditors, and other participants in economic exchange. Objectives of Auditing A Verification of accounts and financial statement The main objective of an audit is to verify and establish that at a given date balance sheet presents true and fair view of financial position of the business and the profit and loss account gives the true and fair value of the profit or loss for the accounting period.In modern business organizations, Management and ownership are distinguished.

The purpose management is to make it possible for people to operate in groups through the use of available human and material resources in order to make gain. Many organizations render valuable service to both members of the public and government.

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Examples are Local Government Areas whose services include provision and maintenance of road, Motor park, market, health service and primary school, as well as the maintenance of peace and order in the society. It is through Local Government that State and Federal Government generate enough revenue to finance their projects yearly.

The nature of services offered by Local Government place the state and Federal Governments at high level of generating revenues. It is based on these reasons that efficient operational results are demanded from the various Local Government Administration.

Efficient management only result through sound internal control and other control measures adopted by management. However, the introduction of control measures cannot itself guarantee profitability of any enterprise without the activities of the organization being reviewed, measured, evaluated and appraised.

An important tool used for this purpose is the Internal Audit Function. Auditing, in general, involves an independent examination and investigation of the guidance from which the financial statement has been prepared with a view to enabling the independent examiner report, whether in his opinion and according to the best of the information and explanations obtained by him, the statements is properly drawn up and gives a true and fair view of what of reports to show and if not, to report in what respects he is not satisfied.

Ayasi, Commenting on the role of internal auditors, Athens Holmes ad Wayne Overniyem said the internal auditor appraises financial records, accounting and operating procedures, evaluates the system of internal control periodically, summarizes the results of the continuous investigation and prepares recommendation for better operation and report the result o f his findings to top management.

The internal auditing is a management tool which functions by appraising all activities of the organization with a view to helping management attain its defined goals and objectives efficiently and effectively. Besides, internal auditing assists the operation of the independent auditor ensuring that a good system of internal control is maintained within the organization.

The researcher observed that the importance of internal auditing has not been realized by the management of most organizations including Local Government Councils. It is also observed that most assets of the Local Government Councils are exposed to waste and fraud as a result of poor or weak internal auditing carried out by internal audit unit.

To obtain accurate and concise facts for this study, few research questions were selected and answered in the study. It is essential in a number of ways such as: The study will reveal the reasons responsible for frequent loss of assets and occurrence of frauds leading to inefficient management by consecutive Local Government Council Management.

The study will also enlighten the management of Local Government Council on the need to establish a strong internal audit department in their respective councils and also improve their functions. The study is further intended to point out to the management and other employee of the Local Government that internal auditing is not a threat to their jobs but is mainly to ensure compliance with established system and polices set up by management.

No such study was conducted in any other Local Government Council within or outside the state. The study investigated the impact of internal audit. Project Topics. Get Full Work. The Efficiency of Education Expenditure in Nigeria — Problem and Prospect of Financial Control Tool. The Challenges of Rating Valuation in Nigeria. Chat with us!When you do sit down to write your final paper there are a few stylistic components and format components about which you should know:.

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4 Hot Topics Internal Audit Should Be Ready To Address In 2018

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This topic can cover auditing in general or a specific area of auditing depending on the expertise you have and the scope of your particular essay. Earnings management Cash flow. How has this changed with time?

The use of internet based accountants Offshore accounting History of accounting The best accounting practices Becoming a certified accountant Historical accounting practices Accounting and modern technology Accounting software Accounting ethics Tax. Financial markets. You can write about commodities or stocks.

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You can write about the role played by financial markets in the bigger global economy. You can write about how few people understand this and why. Write about what issues this raises and what can be done about it. Accounting information systems. Write about the rapid flow of information and what it does for modern accountants. Managerial accounting. How can managers use accounting information to make better decisions? Personal finances.

What benefits can individuals get from hiring personal accountants? Is it better overall? Debt management. This is a serious issue and what can be done to fix it for the future and stop problems before they happen?

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What influence does the culture or an organization have on accounting? What influence does culture of an organization have on the accounting procedures it uses?

When you do sit down to write your final paper there are a few stylistic components and format components about which you should know: Style: When you write your research paper make sure to use past tense unless you are referring to an established fact.To browse Academia. Skip to main content. Log In Sign Up. Papers People. However special emphasis is paid to manufacturing sector effort will also be made to discuss the principles applicable to all remuneration and incentive schemes.

Save to Library. Corporate Financial organizations are setup with the principal objective of creating wealth for their shareholders. Corporate Financial organizations are increasingly becoming more complex and in many cases global thereby engendering Corporate Financial organizations are increasingly becoming more complex and in many cases global thereby engendering the need for complete, transparent, reliable and accurate information that can be accessed quickly.

This is particularly germane as the gulf between ownership and management has grown wider in line with global best practices and most large business organizations are owned by a broad and disparate set of shareholders. The governor always emphasizes on the promotion and static financial structures within the economy of the country and the other financial institutions in the annual biannual reports on monetary policy and evaluate financial sector policies.

The governor ensure the annual, biannual reports on monetary policy an evaluate financial sector policies.

auditing project topics

He monitors and control inflation nary growth of the government appraise and monitors GDP growth, interest rates, foreign reserves through the review of government budget. Proposal Where Applicable. The objectives of the study were; to determine the uses of a computerized accounting information system, to find The objectives of the study were; to determine the uses of a computerized accounting information system, to find out the pros and cons of computerized accounting to financial institutions, and to establish the qualities of financial reports generated by computerized accounting system.

The researcher used qualitative and quantitative research designs with a sample of size 15 respondents. Both primary and secondary data were used and the data collection methods were questionnaires, observation interviews and investigative procedures. The study revealed the existence of a computerized accounting system at HFC Bank Limited and this system has enhanced operational efficiency.

It has not only improved the quality of financial reports but also provides timely reports on daily activities and has to a certain extent helped to minimize the risk of fraudulent transactions. The study established that computerized accounting had a great impact on quality of financial reports and that many financial statements were generated through the computerized accounting system.

auditing project topics

A continuous culture of utilizing a computerized accounting system is recommended. The Challenges of Tax administration in Benue State. The Impact of working Capital management on the performance of companies in Nigeria. The impact of Assesment and procedures for Tax collection on Revenue Generation.

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Related Topics. Proposals and Project Works. Follow Following. Finance and Acounting. Project Work. Project topics for banking and finance final year student. Project Topics. MBA and IT topics. Accounting and Finance.


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