ABSTRACT
This research study was conducted to investigate the role of auditors in fraud control in business organization with particular interest and attention on Champion Breweries Plc, Uyo. Staff of Champion Brewery constitutes the population of the study from which a sample size of forty (40) respondents was selected. Three hypotheses were formulated and tested, Chi-square and percentage distribution was the statistical tool used in testing the hypothesis, while questionnaires were the method used for collection of data for the study. The result reveals that internal auditors play a significant role in keeping the organization accounting records in order. They also help in checking fraud. The problem affecting internal auditor in the champion brewery plc Uyo are enumerated.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
It is pertinent at this introductory part to note the term auditing I its primitive and rudimentary form can well be traced back to the ancient firms but the term auditing is seen today in its formed state and was established in the later part of 19th century. Originally an auditor was one whom the receipt and payments of an establishment were read.The definition of auditing came as independent examination and investigation of the evidence from which a financial statement has been prepared with a view of enabling the independent examiner to report whether in his opinion and according to the best of his knowledge, the information and the explanations obtained by him is properly drawn up and gives a fair view of what it report to show if not in what respect he is not the independent examiner who does the investigation and report there upon is referred to as the auditor.
The auditor being an independent examiner who should be professionally qualified examine the book of account and vouchers of the company as will enable him to report whether he satisfied or not that balance sheet is properly drawn upon so as to show a true and fair view of the profit and loss for the financial period.The role of auditor is rigorous and from the above description of an auditor positions in this dynamic business do represent a true and fair view of financial position and earning and that the accuracy of the account is not distorted by any fraud and error which the auditor came across in the course of auditing. (Normond 2009).The detection of fraud and error is not the primary responsibility of the auditor in a business organization, is therefore important to note with great concern that the auditors is not absorbed from the responsibility of fraud or error committed by directors or managers of a company.The auditor must therefore satisfy himself that the accounts are incorrect in the consequent of fraud or error committed in director managers’ consequent upon the paradox position in which the auditors has found himself as regards the detection and prevention of fraud and errors the mechanism need to be instituted the efficiency by which the auditor can rely upon in carrying out his work.
This brings us to internal check and control as the system of control, financing and otherwise, established by the government in order to carry on the enterprise business in an orderly and efficient manner. It is design to ensure adherence to management policies, safeguard the assets and secure as fair as possible. The completeness and the accuracy of the records. It brings into play both internal check and internal audit (auditing guidelines 2004).