accounting

AUDITORS LIABILITY

Written by: ). AGBOOLA OLUBUSOLA 2). IBRAHIM MUSA ABIODUN 3). MR ESEIWI WOROBOSA 4). GIWA AZEEZ ADEMOLA 5). SANNI YUSUF OLATUNJI 6). OGUNDARE AKINTOLA MARIAM Introduction: An audit of financial statements is obligatory in Nigeria and its responsibility is placed upon the shoulders of directors of the company. After preparing the financial statements, the company …

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AUDIT EVIDENCE

Written by:   AJASA FADEKEMI NKIRU EZIKE UCHENNA CHINWUBA ABDULWAKIL MUSTAPHA ALLI AYOKUNNU CHRISTOPHER OBIANIFE Introduction: According to Lee (2000) evidence is anything (tangible objects, documents, and testimony) that relates to the truth or falsity of an assertion made in an investigation or legal proceeding. An audit on the other hand is a systematic independent …

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PUBLIC DEBT

Written by: ELEMIDE AYODEJI OLUWASEUN AYODELE KEHINDE JOHN DEBORH U. OMOAREGBA BASHIRAT AJIBADE BAMIDELE OLUSEGUN THOMAS Introduction: Governments borrow to meet her fiscal and monetary needs, as when estimated revenue falls below or is exceeded by estimated expenditures. Many national governments incur such debt because of an unwillingness to limit spending or increase taxes for …

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VERIFICATION OF ASSET AND LIABILITIES

Written by: OBIANIFE CHRISTOPHER ELEMIDE AYODEJI OLUWASEUN AYODELE KEHINDE JOHN DEBORH U. OMOAREGBA BASHIRAT AJIBADE     VERIFICATION  “Verification is the proof of accuracy of extension, footings, posting, existence and ownership of assets.” (Arthur Holmes) Verification means proving the correctness.One of the main works of auditor is verification of assets and liabilities.Verification is the act …

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MONETARY POLICY

Written by:  AGBOOLA OLUBUSOLA  MR ESEIWI WOROBOSA  GIWA AZEEZ ADEMOLA  SANNI YUSUF OLATUNJI  OGUNDARE AKINTOLA MARIAM  IBRAHIM MUSA ABIODUN   INTRODUCTION Monetary policy is the art of managing money. Money must be managed because it is very use introduces a potential threat to the stability of the economic system. For the use of money enables …

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AUDITOR’S REPORT

  Written by: JONATHAN IJEOMA .C ALFRED EDOZIE MOSINDI FASHANU ABUBAKA AJIBOYE GBADEBO WASIU AUDU RUKAYAT OSUASHI An auditor’s report is a written letter from the auditor containing their opinion on whether a company’s financial statements comply with generally accepted accounting principles (GAAP) and are free from material misstatement. An auditor’s report can also be defined as a formal opinion, or disclaimer thereof, …

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FORENSIC ACCOUNTANT REPORT

Before discussing what forensic accounting report is, it’s good to define what ‘Forensic Accounting’ is. First, the report is made by forensic accountants that analyze, interpret and summarize difficult and complex business and financial matters. These professionals work in insurance companies, police forces, banks, public accounting firms and government agencies, to name some. Forensic accounting, on …

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What is Audit

INTRODUCTION TO AUDITING The word Audit is derived from a Latin Verb ‘Audire’ which means ‘to hear’. Various bodies and authors has defined auditing differently. The International Auditing Practices Committee (IAPC) stated that “Auditing is an Independent examination of and the expression of an opinion on the Financial Statement of an enterprise by an appointed …

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