In the yearly of period of scientific management in the days of Fredrick Taylor, the use of management techniques known to them to improve the organization to improve the condition of the management could be linked to care of a disease which are partly known while other more serious ailment ravaging the body has not been diagnosed at all.

Infect management techniques and principle like the principle of management, management by objective (MBO), management by the expected, minimum and maximum great criterion, decision techniques and expected value etc., were all used as a way to enhance the organizational performance through good decision making. All this was like first aid in treating organizational performance.

Efficiency in auditing provides means of appraising companies performance and diagnosing ill or weakness of the company more effectively and comprehensively.

The research will conduct a comprehensive and a more critical on the topic: INTERNAL AYDITING AS A TOOL FOR IMPROVING COMPANIES PERFROMANCE, with the earning finding out how far has the EMENITE LIMITED ENUGU has carried out the efficiency required with a view to identifying the inefficient and deficiencies which are presumably believed to be non-existence and ahs the company used as a case of study been efficient as it ought to be.

A research work will be carried out on the coursed of low company performance and how o correct this abnormal using efficient auditing process.

The research work is divided into five chapters. The first chapters’ center on the introduction, the background of the study, statement of the study, objective of the study, hypothesis testing, scope and definition of term.

Chapter two deal on the view of some authors on the topic while the chapter three deals with the research design and methodology, furthermore, chapter four focuses on the data analysis and lastly, the chapter five is concern with the findings, summary of the findings, interpretation of data collected, conclusion and recommendation. Written data source of questionnaire and interviews will make use of by the research library and that will form the part of the secondary data formation collection and testing of the hypothesis will be done using;

Null hypothesis: Ho – the company’s internal auditing process is not efficient.

Alternative hypothesis (Hi) – the companies auditing process is efficient. Finally, various attempt will be made on how best Emenite Nigeria should be improved by applying efficiency in the auditing process, by carrying out the under mention objective;

1. Analysis of the company in general

2. Reviewing and approving the soundness, adequately, use of operational research and other accounting control like the inventory control, process costing, job costing control etc.

3. Assembling ascertaining, reviewing the extent of compliance with the established laws.

ACKNOWLEDGEMENT

I witch to express my sincere gratitude to my project supervisor for his excellent guidance and supervision towards the successful complement of this work. I also thank my head of department Mr. Ani , for his contribution toward the success of this research work.

My gratitude also goes to the following: my brother Mr. Thomson Imoudu , Geologist, warri Oil refinery, Margaret Imoudu, Rebbeca Imoudu, for all their moral and financial contribution throughout the studies.

Eng. Frank Imoudu (lecturer), River state university Port-Harcourt, Emmanual Imoudu (J.N.R.) Abraham, Grace and Dorah, they all are commeded for their contributions. To my parents Mr.& Mrs. Monday Imoudu is commended for their support.

In a similar development, a thank my class mate and all my friends; Chioma Onuoha, Oserentin Irorere, Vicente Uchechi, Nnenna Onyejiwa Okafor for their all their contributions, prayers towars the success of our H.N.D programme which we all archived

I am also grateful to the managements of the Emenit Company Enugu for their support. I also thank Patrick Nnamagai, Fidel’s Ani, J.K, Ani, Ewo micheil, all of Akintola Willians chattered accountants, Enugu for their support to me.

Finally and above, I thank the almighty God for keeping me alive till today inspite of the dizzy high of my academic struggle. After all except the lord keep the city, the keepers of the city labour in vain ( “Psalm 127 Vs 1 – 2” ) and without Jesus Christ we can do nothing John 15 Vs 5.

I called upon the lord in the days of my troubles and he delivered me both in my academics and other engagement- Psalm 50 Vs 15.

PREFACE

This research work is a guide, a touch that will basically help and direct attention to the important areas needed to find out whether a company is efficient, as it ought to be or not with reference to its auditing process. The research work is not expected to give an answer to every expected question of the topic under review. There is no gain saying the fact that auditing efficiency is an indispensable process in a company. Efficiency in auditing serves as a life wire in any company. Most companies that are having the mirage the socio-economic problems leading to abysmal performance are due to inefficient auditing.

I am highly optimistic that the completion of this will assist both the student in the future and even the staff in the tottery institutional will focus the general public who after passing through this research work will find it more valuable.

Furthermore, the technology gained form this research work will assist the professional accountant whose works are so valuable.

Ina nutshell, students, tutorial staff, in auditing will find this research work more rewarding and educative

CHAPTER ONE

INTRODUCTION

Since the creation of Enugu state on the 17 of august 1991 till date, many of the government owned company e.g. Niger gas limited, Emene flour mill limited Emene, Anambra vegetable refinery oil Nachi, Nigeria cement company Nkalagu located at Eboyi state which is jointly owned by Enugu Eboyi and other state – Imo are at the point of collapse. Many of the company if they are working are performing below 40% as optimum utilization as statistic on that will reveal latter. The above issue is not peculiar with Enugu state alone. Recently, there has been a drastic change in the business trends in Nigeria. Many reasons has been giving for the anomalies in the business which has resulted in many companies down – fall, ranging from lack of accountability, company crisis, misappropriation of funds, fraud, excess expenditure that are usually not compactable with the real budget. In this maiden broadcast to the state government, Dr, Chimeroke Nnamani raveled that the account of Enugu state public service has not been audited since the state was created while chief Egbogu, the chairman of the panel constituted (among other things) find the best way of making the civil service more functional to increase the in the state. In the interim report submitted to the deputy governor of Enugu state on Wednesday, 28 July 1999, that the fraud, overbroad wage bill, ghost workers syndrome were the factor militating against the efficient performance of the civil service and reported that the civil service will not be having above twelve thousand workers (12,000) while here has Ben speculation that payment re been made to up to thirty thousand worker in Enugu state.

The above shows categorically in all ramifications that of the state civil service and their minitry – extra minitry department and other parastatals have been audited efficiently, such anomalies could not have crept up.