Impact Of Statutory Audit Report On Financial Management Of Oil Palm Companies In Imo State (A Study Of Ada Palm Nigeria Limited Oham/Egbema L.G.A.
Abstract
Financial Matters in a corporate entity are so
important that they receive the utmost attention and recognition. To avoid
abuse, the code of corporate Governance placed a big role in the Management of
corporate entities. The research sought to evaluate the impact of statutory
audit reports on financial management of oil palm companies in Imo State, a
case study of Adapalm Nigeria Limited. The research also set out to recommend
measures that will enhance financial management and accountability. In this
research, four hypotheses were formulated and tested. The primary data was
obtained through the administration of questionnaires, Interviews and observation.
ThIs was supplemented with secondary data. The simple random sampling technique
was used in questionnaire administration. The population of the study was 60
out of which a sample of 45 was studied. Questionnaires administered to the
respondents were duly completed and returned. The chi-square (x2) test
statistics was used to test the four hypotheses. Percentage analysis was used
to analyses the data collected from the respondents. The findings of this
research indicate that statutory audit report enhance the confidence of the
general public on the audited financial statements of a corporate entity;
audits enhance the level of compliance with established standards and internal
procedures. The research also recommends that proper record keeping and
financial reporting be maintained; periodic internal audits be carried out; due
process to be observed in awards of contracts; external auditors to be rotated
within every five years and strong internal audit departments and procedures to
be maintained.
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OZOJIRI, M (2021). Impact Of Statutory Audit Report On Financial Management Of Oil Palm Companies In Imo State (A Study Of Ada Palm Nigeria Limited Oham/Egbema L.G.A.. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-statutory-audit-report-on-financial-management-of-oil-palm-companies-in-imo-state-a-study-of-ada-palm-nigeria-limited-ohamegbema-lga-7-2
MADUABUGHICHI, OZOJIRI. "Impact Of Statutory Audit Report On Financial Management Of Oil Palm Companies In Imo State (A Study Of Ada Palm Nigeria Limited Oham/Egbema L.G.A." Mouau.afribary.org. Mouau.afribary.org, 30 Nov. 2021, https://repository.mouau.edu.ng/work/view/impact-of-statutory-audit-report-on-financial-management-of-oil-palm-companies-in-imo-state-a-study-of-ada-palm-nigeria-limited-ohamegbema-lga-7-2. Accessed 31 Oct. 2024.
MADUABUGHICHI, OZOJIRI. "Impact Of Statutory Audit Report On Financial Management Of Oil Palm Companies In Imo State (A Study Of Ada Palm Nigeria Limited Oham/Egbema L.G.A.". Mouau.afribary.org, Mouau.afribary.org, 30 Nov. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-statutory-audit-report-on-financial-management-of-oil-palm-companies-in-imo-state-a-study-of-ada-palm-nigeria-limited-ohamegbema-lga-7-2 >.
MADUABUGHICHI, OZOJIRI. "Impact Of Statutory Audit Report On Financial Management Of Oil Palm Companies In Imo State (A Study Of Ada Palm Nigeria Limited Oham/Egbema L.G.A." Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/impact-of-statutory-audit-report-on-financial-management-of-oil-palm-companies-in-imo-state-a-study-of-ada-palm-nigeria-limited-ohamegbema-lga-7-2