ACCOUNTING AND AUDIT PROCEDURE IN THE GOVERNMENT PARASTATALS. (A CASE STUDY OF UNIVERSITY OF ILORIN TEACHING HOSPITAL).

TABLE OF CONTENT

TITLE PAGE                                                                             PAGES

CERTIFICATION                                                                                I

DEDICATION                                                                                      II

ACKNOWLEDGEMENT                                                                  III

LIST OF TABLE                                                                                IV

CHAPTER ONE: INTRODUCTION

• BACKGROUND OF THE STUDY 1
  • OBJECTIVE OF THE STUDY        2
  • SIGNIFICANCE OF THE STUDY        3
  • SCOPE OF THE STUDY        3
  • LIMITATION OF THE STUDY        4
  • RESEARCH METHODOLOGY        4
  • PLAN OF THE STUDY        5

CHAPTER TWO

• MEANING OF PARASTATALS        7
• ESTABLISHMENT OF UNIVERSITY AND THEIR TEACHING HOSPITALS        7
• AUDITING IN RELATION TO ACCOUNTS        9
• ANNUAL STOCK TAKING     10
• APPRAISAL OF THE PERFORMANCE OF THE RETURNS                                                      11
• USERS OF AUDIT INFORMATION      12

CHAPTER THREE

• INTERVIEW      15
• QUESTIONNAIRE      16
• OBSERVATION      16

CHAPTER FOUR

• FINDINGS      18
  • HISTORICAL BACKGROUND OF UNIVERSITY OF ILORIN TEACHING HOSPITAL      18
  • ORGANIZATION STRUCTURE      20
  • ACCOUNT PAYABLES      21
  • SOURCES OF FUND: CAPITAL STRUCTURE      23
  • AUDITING PROCEDURE AT UNIVERSITY OD ILORIN TEACHING HOSPITAL                                                              23
  • AUDIT QUERRY                                   26
  • INTERNAL CONTROL      27
  • PROCEDURE      28

 CHAPTER FIVE

• PROBLEMS      31
• SUMMARY      32
• CONCLUSION      33
• RECOMMENDATIONS      33

REFERENCE                                                                                      35

BIBLIOGRAPHY                                                                                36

CHAPTER ONE

• BACKGROUND OF THE STUDY

Auditing may be defined as a systematic examination testing and confirmation of accounting record and routines to verify their accuracy and compliance with established concept, principle standard and legal requirement.

However, the Macdonald and Howard LR principle of auditing as a careful examination of the books of account and vouchers of a business, a will enable the auditor to satisfy himself that the balance sheet is property drawn up. So as to give a true and fair view of the state of affairs of the business and whether the profit and loss for the financial period according to the best of his information and explanation given to him and shown by the books of account and if not in what respect he is not satisfied.

• OBJECTIVE OF THE STUDY

The objective of the study of auditing procedure in government parastatals are as follows.

1. To get adequate and relevant information about the financial aspect of government parastatals.
2. To build new knowledge gained into these research for future use into operation of government parastatals.
3. to find out the extent to which those who elected to oversee the affairs of government parastatals in the teaching Hospital are able to account for their stewardship.
4. To make suggestion and recommendation as to new finding relevant to develop of most of hospital in Nigeria
5. to be able to detect likely error and irregularity and able to make necessary correction as not to affect the government set up.

• SIGNIFICANCE OF THE STUDY

The significant of the study could be a sort of enadicating the persistent increase in the misappropriation of fund in an organization. It could also provide job opportunity for graduates seeking employment. Because the system would entails employing a qualified and competent staff to handle the auditing exercise. Because in any organization set up, no matter how large or small it should exposed it self to verification of its various books of account so as not to give rooms to misappropriation by workers.

• SCOPE OF THE STUDY

The study is to avail a layman the opportunity to have a knowledge of how financial accounting and auditing interacts, check and balance each other.

The scope of the study is the financial department of university of Ilorin Teaching Hospital.

• LIMITATION OF THE STUDY

The major limitation of the study are time constraints, financial constraints and difficulty in obtaining adequate and up-to date information necessary for the research work.

The limitations mentioned above taken into consideration, the research work on accounting and audit procedure in the government parastatals on the university of ilorin teaching hospitals. But reference can be made from the findings if this research to other health institutions that fall within the public health sector particularly the other teaching hospital in the country.

• RESEARCH METHGODOLOGY

For the purpose of adequacy of data needed for this project, the researcher used interviews schedule, questionnaire method and observation method.

PLAN OF THE STUDY

The study is made up of five chapters.

Chapter one deals with general background of the study, this involve the introduction, objectives of the study, significance of the study, scope of the study, limitation of the study, research methodology, the limitation of terms and plan of the study.

Second chapter deals with meaning of parastatals, establishments of university and their teaching hospitals,. Auditing in relation to accounts, annual stock taking and appraisal of the performance of the returns, users of audit information i.e internal and external user.

The third chapter deals with interview, questionnaire and observation.

The fourth chapter deals with findings his includes historical background of university of ilorin teaching hospital, organizational structure, account payables, sources of fund i.e. capital structure, auditing procedure at university of Ilorin teaching hospital, audit query, internal control and procedure

Lastly chapter five contains the problems, summary,

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