ABSTRACT

Fraudulent practices among Nigerians are major challenges facing the development of the country. The federal government has been making several efforts in tackling these dreadful menaces by setting up many anti corruption institutions to reduce cases of white collar crimes and other activity of financial and economic crimes but the efforts seemed not to have yielded the desire results or have not been effective. No doubt, financial crimes have affected individuals and corporate organizations negatively. This has put accounting professional bodies into a new perception and paradigm that go beyond statutory audit. The objective of this study focus on forensic investigation , evidence from Nigeria, primary sources of data were appropriately used. 20 questionnaires were administered. The Researchers Use SPSS 21 to test the hypothesis to determine the F-value. The findings are that Forensic investigation significantly influences fraud detection and control, also, that there is significant difference between the duties of professional Forensic Accountants and that of traditional External Auditors. The researchers recommended that trained experts like the Professional Forensic Accountants should conduct the investigation, where there is evidence of fraud, appropriate disciplinary action in accordance with the Provision of rules should be implemented, and the restructuring of corruption agencies by the government for better performance. These agencies should have the will power and courage to perform optimally. The professional accountancy bodies in Nigeria should ensure that forensic accountants are trained with modern skills of forensic investigation procedures, the financial reporting council should ensure harmonization and unification of the conflicting regulatory codes that will guarantee best standards and regulations are established for best practice and service delivery.
CHAPTER ONE

INTRODUCTION

Sutherland, 1949 cited in Michael, (2004) defined White collar Crime as crime committed by a person of respectable and high social status in the course of his occupation. He noted that in his time, less than 2 percent of the persons committed to Prison in a year belong to the upper class.  He tried to establish a relationship between money, social status, and the likelihood of going to jail for a white collar crime with a more visible, typical crime. He tried to separate and define the difference between the blue collar street crimes like burglary, theft, rape, arson and vandalism which are often blamed on psychological, associational and structural factor with white collar crimes committed by criminals who are  opportunists who overtime learn that they can take advantage of their circumstances to accumulate financial gains. These criminals are educated, intelligent, affluent individuals who can get a job which allows them unfettered and unmonitored access to often large sum of money. White collar crimes include such illegal acts which are characterize by deceit, concealment, or violation of trust and which are not dependent on the application of physical force or violence. This study will be anchored on white collar crime.

        Background to the Study
The widespread frauds in modern organizations have made traditional auditing and investigation inefficient and ineffective in the detection and prevention of the various types of frauds confronting businesses world-wide. (Onuorah and Appah, 2012) The incidence of fraud continues to increase across private and public sector organizations and across nations. Fraud is a universal problem as no nations is resistant, although developing countries and their various states suffer the most pain. Today; modern organized financial crimes have appeared. Financial crimes such as employee theft, payroll frauds, fraudulent billing systems, management theft, corporate frauds, insurance fraud, embezzlement, bribery, bankruptcy, security fraud (EFCC, 2004), among others, have taken the centre stage in the scheme of things; and on the scale of private, public and governmental preference. Financial crimes today have grown wild, and the emergence of computer software coupled with the advent of internet facilities has compounded the problem of financial crimes. Besides, the detection or minimization of these crimes are made more difficult and committing these crimes much easier. (Izedonmi, and Ibadin, 2012). All these, no doubt, remain outside the ambit of the statutory auditor to report on except he is placed on inquiry. The statutory auditor is not primarily bound to detect fraud and errors. His responsibility is defined by Sec. 359 (CAMA, 2004) and the relevant auditing standards. (Uwojori and Asaolu, 2009) added that quite unfortunately, is the inability of the statutory auditor constrained by the relevant statutes and standards, to deal with financial crimes. Okunbor and Obaretin (2010) reported that the spates of corporate failures have placed greater responsibility and function on accountants to equip themselves with the skills to identify and act upon indicators of poor corporate governance, mismanagement, frauds and other wrong doings. It has become imperative for accountants at all levels to have the requisite skills and knowledge for identifying, discovering as well as preserving the evidence of all forms of irregularities and fraud. Therefore, fraud requires more sophisticated approach from preventative to detection. One of the modern approaches that can be used from the prevention to detection is called forensic investigation.
 
Forensic investigation is a rapidly growing field of accounting that describes the engagement that results from actual or anticipated dispute or litigations. (Okoye and Gbegi, 2013) concur that “Forensic” means “suitable for use in a court of law”, and it is to that standard that Forensic Accountants generally work. Forensic investigation is an investigative style of accounting used to determine whether an individual or an organization has engaged in any illegal financial activities.
 
Professional Forensic Accountant may work for government or public accounting firm. Although, forensic investigation has been in existence for several decades, it has evolved over time to include several types of financial information scrutiny. Forensic investigation can, therefore, be seen as an aspect of accounting that is suitable for legal review and offering the highest level of assurance (Apostolou, Hassell & Webber, 2000). Also, forensic investigation encompasses three major areas, investigation, dispute resolution and litigation support. Manning (2002) defines it as the combination of accounting, auditing and investigative skills to standard by the courts to address issues in dispute in the context of civil and criminal litigation. Ojaide (2000) noted that there is an alarming increase in the number of fraud and fraudulent activities in Nigeria, requiring the visibility of forensic investigation services. Also the recent happening in the forensic audit of the oil sector where the present government is demanding for another forensic audit exercises to be carried out after a Nigerian audit firm has presented a report to the authority. In the light of the above this study therefore looks into the relevance of forensic investigation and fraud management in the effective reduction of fraudulent practices in Nigeria.
 
 

          Statement of the Problem

In recent times, series of fraud have been committed both in the public sector and private sector of the economy. These in no doubt are perpetrated under the supervision of the internal auditors of the organization. Ojaide (2000) added that there is an alarming increase in the number of fraud and fraudulent activities in Nigeria emphasizing the visibility of forensic investigation services. Okoye and Akamobi (2009) Owojori and Asaolu (2009), Izedomin and Mgbame ( 2011), Kasum (2009) have all acknowledge in their separate works, the increasing incidence of fraud and fraudulent activities in Nigeria and these studies have argued that in Nigeria, financial fraud is gradually becoming a normal way of life. (Modugu and Anyaduba 2013) submitted that financial irregularities have becomes the specialty of both private and public sector in Nigeria as individual perpetrates fraud and corrupt practice according to the capacity of their office. Consequently, there is a general expectation that forensic investigation may be able to stem the tide of financial malfeasance witnessed in most sectors of the Nigerian economy. However, there has not been adequate emphasis, especially survey evidence on how forensic investigation can help curtail white collar crimes beyond the several unreliable views that abound. Consequently, the study fills this gap of forensic investigation evident from Nigeria.
 
Objective of the study
The general objective of this study is to assess the influence of forensic investigation in the fight against white collar crime in Nigeria
The specific objectives of this study include:

1. To examine whether effective forensic investigation significantly influence white collar crime  reduction control.
2. To examine if there  is significance difference between professional Forensic Accountants and traditional External Auditors.

  Research questions

The study has the following research questions;
 

1. What is the extent of influence that effectiveness of forensic investigation has on white collar crime control and management
2. How significantly different are the duties of professional Forensic Accountants and traditional External Auditors.

          Statement of Hypothesis

H01: Forensic investigation does not significantly influence white collar crime control and management.
H02: There is no significant difference between the duties of professional Accountants and that of traditional External Auditors

CHAPTER ONE
INTRODUCTION
 
 
1.1 BACKGROUND OF STUDY
Accounting is the process of identifying, classifying and recording, and presentation of financial economic activities of an entity with the aim of facilitating decision making by the users of the information Fidelis (2013). This process is usually done manually with the use of separate ledgers to record financial transactions. It involves the use of paper, books and pen to record and prepare financial statements and manual calculations. This task is tedious and time consuming and can therefore lead to several human errors. This occurrence might be minimal in small entities such as sole proprietorship. Kwanchukwu (2004). However, in big entities such as a public limited liability company, these errors can occur more often without possibility of being detected which can affect the entity on the long run.
There is no doubt that the manual system of accounting is cheaper than the automated accounting system which is one of the reasons why small businesses still use it. But as a business grows, there is the need for a shift from manual accounting system of financial transactions to automated processes i.e. Information and Communication Technology especially in today’s generation where most transactions are performed with the use of electronic gadgets such as Computers, Computer software and the internet Onaolapo et al. (2012). The Accountant only needs to enter the transactions into the software which simply performs computations and presentation thereby relieving the accountant of such task. Any company with large size seeking to be efficient and effective in it financial operations would need to adopt an automated system of accounting. For a company to attain efficiency and effectiveness, it would require capacity to process accurate and timely information, hence, the need for Information and Communication Technology.
Information and Communication Technology (ICT) is often used as an extended synonym for information technology (IT), but is a more specific term that stresses the role of unified communications and the integration of telecommunications (telephones lines and wireless signals), computers as well as necessary enterprise software, middleware, storage, and audio-visual systems, which enables users to access, store, transmit and manipulate information. ICT is an umbrella term that includes any communication device or application, encompassing; radio, television, cellular phones, computer and network hardware and software. Jordan (1999)
Information technology has been around for a long time as long as people have been around because there were always ways of communicating through technology available at a point in time. There are four (4) main ages that divide up the history of information technology These ages include; pre-mechanical, mechanical, electromechanical and electronic only the latest age i.e. electronic and some of the electromechanical age really affects us today. Yusuf, M.O. (2005).
In the recent past, before the inception of ICT, accountants of an organization were using a socially acceptable behavioral method of reporting accounting and economic reports, carried out during accounting year ends Kwanchukwu (2004). Accounts prepared include statement of account, statement of financial position, cash book, and statement of cash flow. The ICT, on accounting practice in Nigeria has become a subject of fundamental importance and concerns to all business enterprise and is gradually becoming a prerequisite for local and international competitiveness. It is obvious that the way accountants plan and take decision on what and how to provide their service in the accounting profession has been affected immensely by Information and Communication Technology (ICT). This has continued to change the manner in which accounting practice and their corporate relationships are organized worldwide and the variety of innovative device available to improve and facilitate the speed and quality service delivery. A major ICT has been made on accounting is the ability of companies to develop and use computerized system to track and record financial transactions properly and accurately. The recording of business transaction manually on ledgers, papers, spread sheets etc has been translated and computerized for quick and easy presentation of individual financial transaction and give report on it. (Granlund & Mouritsen, 2003).Shanker(2008)ascertains that the use of ICT in many organization has assisted in reducing transactional cost, overcome the constraints of distance and have cut across geographic boundaries thereby assisting to improve coordination of activities within organizational boundaries. It is very clear that, the computerized accounting system have improved the functionality of accounting departments by increasing the timeliness of accounting information and report preparation of statement of cash flow, market shares report and departmental profit & loss are now more accessible with computerized system.
Computerized accounting systems have internal check and balance measure to ensure that all transactions and accounts are properly balanced before the financial statement is finally prepared. It also will not allow journal entries to be out of balance when posting, ensuring that individual transactions are properly recorded.
Since the inception of information and communication technology (ICT), accountants can now process large amount of financial information and process it quickly through computerized accounting system. Quicker processing time for individual transactions has also lessened the amount of time needed to choose out each accounting period. Transactions that would have taken an accountant months or years to prepare are done quickly and faster and thereby cutting high cost that would have resulted in preparing the reports (Pricewaterhousecoopers, June 2008).This study therefore seeks to examine the impact of Information and Communication Technology in Nigeria a study of The Institute of Chartered Accountants of Nigeria (ICAN)  . This study focused on the overall performance of accounting  and how the adoption of Information and Communication Technology impacts on their daily operations.
1.2 STATEMENT OF PROBLEM
Accountant’s worth is now reflected in higher order critical-thinking skills, such as designing, business processes, developing e-business, model in providing independent assurance and integrating strategic knowledge. Hence, most companies have derived a way of recording and reporting transactions. ICAN are expected to take advantage of  ICT to automate existing processes for conducting business in new and innovative ways. Growth within management accounting and information system is becoming prominent with the advent of ICT. Enterprise Resource Planning(ERP)system, Software and ancillary equipment such as Automated Teller Machine(ATM), Debitcards, Electronic commerce, Computer hardware, Database, Internet, Intranet, Telecommunication, Oracle, Peachtress, Accounting software and Statistical Package of Social Sciences etc. are related products emanating from ICT. Ogbu (2011)
This study seeks to evaluate the degree of ICT adoption by ICAN in the preparation and presentation of financial reported accounts. To what extent are ICAN members literate with the use of ICT? How relevant is ICT to ICAN?
1.3 OBJECTIVES OF STUDY
The main objective of the study is to examine Impact Of Internet Communication Technology (ICT) A Study Of  ICAN ,Nigeria
The specific objectives of the study are to:
Assess the impact of ICT on financial transaction report of  ICAN
Examine the effect of ICT implementation on the financial performance of ICAN
Evaluate the challenges associated with integration of  ICT in accounting profession.
Analyze the importance of ICT in training requirement of an accountant.
1.4 RESEARCH QUESTIONS
For the purpose of this study, the following questions have been put forth in line with the of research objectives;
To what extent has ICT impacted on the transaction report of ICAN?
What are the challenges associated with adoption of ICT in ICAN?
How has ICT improve the financial performance of  ICAN?
What are the importance of ICT in training requirement of accountants?
1.5 RESEARCH HYPOTHESES
The following null hypotheses are formulated to  guide the study:
Hypothesis One:
H0; ICT has no significant impact on transaction report of ICAN
Hypothesis Two:
H0; ICT has no significant impact on improved financial performance of ICAN
Hypothesis Three:
H0; There are no challenges associated with integration of ICT into accounting profession in ICAN
Hypothesis Four:
H0; ICT has no importance in training requirement of accountant
1.6 SIGNIFICANCE OF THE STUDY
The efficiency of accounting practice and the factors that affect the use of ICT covers a wide aspect; ranging from the profession, statutory and a host of several other factors but this work is restricted to cover the impact within accounting practice and profession. The level of ICT investment by companies obtained will help our result to focuses  on financial statement.
This study also serves as a guide for further research work in the impact of ICT on business and finance. Findings from the study will also prove useful to students in the field of accounting.
1.7 SCOPE OF THE STUDY
The scope of this study is to evaluate the impact of ICT on accounting profession in Nigeria. The research work adopts ICAN as a study area.
1.8 ORGANIZATION OF THE STUDY.
CHAPTER ONE; This chapter comprises of the background of the study, statement of the problem, objectives of the study, research questions, research hypothesis, significance of the study, scope of the study, organization of the study and definition of terms.
CHAPTER TWO; critically review related literature, conceptual clarification and theoretical framework relevant to the research study.
 
CHAPTER THREE; Examined the research methodology. It presents the research design, the population, the sample size, the nature and source of data, the method of data collection, the techniques of data analysis, the decision rule and the summary.
 
CHAPTER FOUR; Discussed data analysis which includes; data presentation, test of hypothesis and the results of findings.
CHAPTER FIVE; this chapter gives the summary of findings and conclusion from the research work. Recommendations, limitations of the study and suggestion for further research are also presented.
 
1.9 DEFINITION OF TERMS
a.Information and Communication Technology(ICT):This to the automated means of originating, processing, storing and communicating information and includes recording device, communication system, computer system( including hardware and software component and data)and other electronic devices(AIC PA 2006a, AU319.02).
 
b.Accounting information system (AIS): Is a system of collection, storage and processing of financial and accounting data that is used by decision makers.
 
c.Enterprise Resource Planning (ERP): Is an integrated information system that serves all departments within an enterprise.
 

ABSTRACT
This project has been carried out to empirically examine Forensic Accounting And Fraud Detection In Nigerian Public Sector. A research survey design was used for the purpose of this paper with a sample size of thirty (30) respondents which comprises of auditors and accountants of four (4) ministries selected from Edo state in Nigeria. The statistical tool used to test the hypotheses was Analysis of variance, (ANOVA). From our findings we found out that forensic accounting in Nigeria’s public sector is effective in detecting fraud, there is a significant relationship between forensic accounting and litigation support service in Nigeria’s court and lastly the application of forensic accounting in the public sector is effective in preventing fraud. We therefore recommended that the public sector should build a continuous improvement in the internal control system and initiate effective and efficient internal check, they should adopt a sound accounting system in principal and effective practices, forensic accountant should acquire proper training on forensic accounting skills and procedures and officials in the public sector should embrace integrity, objectivity, fairness, accountability as a moral duty to reduce the level of fraud.
 
CHAPTER ONE
INTRODUCTION
Background to the Study
Corruption, fraud and other financial and economic fraud and crimes has made it difficult for Nigerian’s to meet her welfare and social responsibilities to citizenry, these evil have assumed alarming proportions and pervasive mismanagement of resources have become the order of the day in public sector. (Okunbor & Obaretin, 2010). According to Okolo (2007), financial crime has become really pervasive and the likelihood of corporate fraud occurring has also become more severe. High level of financial abuse was hindering tax collection, making and enforcement of Law difficult and discourages foreign investment. The wide spread of fraud in public sector have made traditional auditing and investigation inefficient and ineffective in detecting fraud. Oyejide (2008) opined that fraud is a subject that has received a lot of attention both globally and in Nigeria.
According to Karwai (2002), he maintains that the increase wave of fraud is causing a lot of havoc in the Nigeria public sector. This is because fraud has penetrated into every aspect of Nigeria public sector. Okunbor & Obaretin (2010), reported that the spates of corporate failure have placed greater responsibilities and functions on accountant to equip themselves with skills to identify and act upon indicators of poor corporate governance, mismanagement, frauds and wrong doings.
 
Statement of the Problem
The failure of auditor to prevent, detect and reduce modern frauds like white collar crimes such as security fraud, embezzlement, bankruptcies, contract disparate, money laundering and other financial crime in the public sector has put pressure on professional accountant and legal practitioners to find better ways of exposing fraud in public sector. (Owojori & Asaolu, 2009).It has now become pertinent to introduce and practice forensic accounting which is one of the approaches that can be used for the prevention and detection in public sector since external auditor do not or may not have the required knowledge to be able to detect, prevent or reduce fraud in Nigeria’s public sector.
The research questions
On the premise of the above problems, this study seeks to specifically address the following research questions:

1. Is the application of forensic accounting service effective in detecting fraud in Nigerian’s public sector?
2. Is there significant relationship between forensic accounting and litigation support service in Nigerian’s court?
3. Is the application of forensic accounting service effective in preventing fraud in Nigerian’s public sector?

Objectives of the Study
The main objectives of this study is on Forensic Accounting And Fraud Detection In Nigerian Public Sector
  Hypotheses
H1: The application of forensic accounting service in public sector is not effective in detecting fraud.
H2: There is no significant relationship between forensic accounting and litigation support service in Nigerian’s court.
H3 : The application of forensic accounting is effective in preventing fraud in Public Sector.
 
Significance of the Study

• Significance of the Study

The findings of this work will be of immense significance to the banking sector in Nigeria. It will go a long way in enlightening them on the concept of  forensic auditors as well as its role in the management of fraud. It will also benefit other organizations. The findings from this study will aid them to apply better forensic accounting strategies or effective control mechanisms in checking fraud in their diverse organizations.
It will as well benefit the general populace. They will be enlightened on the concept of forensic auditing  as well as its roles.
Students and researchers will as well benefit from this study. They will widen their scope from the information contained in this study.

• Definition of Terms

Auditing:Auditing is a branch of accounting concerned with the efficient use of resources to achieve a previously determined objective or set of objectives contained in a plan (Obazee, 2012).
Internal Audit:Internal auditing is the whole system of auditing, financial and otherwise, intended to secure management information and reliability of accounting records (Gbenga, 2011).
Bank Fraud:Bank fraud is defined as the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently representing to be a bank or financial institution (Daniel, 2012).
Internal Control System: This is defined as the whole system of control, financial and otherwise established by management in order to carry on the business of the enterprises in an orderly and efficient manner (Beattie, 2006).

Abstract

This study, an evaluation of financial and budgetary control in construction industry in Nigeria , was conducted using Cadbury Nigeria Plc, as case study. Since wants are plenty while resources are limited, every organisation tends to find means by which it can get what it wants with the limited resources at its disposal. Therefore, firms seek  to adopt the concept of budgeting and budgetary control to satisfy their needs at the least possible cost and at the same time fulfill their stewardship obligations to the numerous stakeholders. We adopted a descriptive research design with data gathered through questionnaire administered to respondents. Non-parametric tool of chi square was employed to analyse the data. Hypotheses were tested and analysed on a 5% level of significance and it was revealed that budgeting is a useful tool that guides firms to evaluate whether their goals and objectives are actualised. Considering the changing environment in which firms now operate, it can be concluded that budget, which is a continous management activity, should adapt to changes in the dynamic business environment.
 
CHAPTER ONE

Introduction

1.1 Background to the Study

Wants are numerous while resources are limited but there is every tendency to waste or under-utilise the limited resources by the human factor involved in the production of goods and services. With various companies competing with one another, only few that are able to produce at least possible cost will survive the growing competition in the market. Therefore, it is paramount for every serious business undertaken to produce at that possible minimum cost so as to remain in business and also achieve the corporate objectives of profitability and stability. In view of this, there is every need to do a realistic planning of the activities of the firm taking into consideration the limiting factors and the long term objectives of the firm. In order to achieve this, budgeting – a tool of planning and control becomes indispensable. Budgeting is ubiquitous and has long been considered as a necessary tool in managing a company.
 
A budget has been defined by Chartered Institute of Management Accountants (CIMA), as “a financial or qualitative statement prepared and approved prior to a defined period of time for the purpose of attaining a given objective.  It may include income, expenditure and  the employment of capital”. CIMA also defined budgetary control as “the establishment of budgets relating the responsibilities of executives to the requirements of a policy and the continous comparisons of actual with budgeted results, either to secure by individual action the objectives of that policy or to provide a basis for its revision.
 
Horngreen (1982) defined a budget as “a quantitative expression of a plan of action and an aid to coordination and  implementation”.  The  Oxford  Advanced  Learners‟ dictionary defined budget as an estimate or plan of the money available to somebody and how it will be spent over a period of time. Both Horngreen and the dictionary emphasised the word plan, but planning itself is found in all aspect of human endeavor, hence planning is a blue print of business growth and a road map for development that helps in deciding objectives, quantitatively and qualitatively. It involves setting a goal on the premise of the objectives and keeping of the resources. The process of planning requires that managers of business to act as if they are fortune tellers and attempt to predict the future course of action to be adopted. Such prediction of the so-called fortune tellers will determine whether or not the objectives of the firm will be met.
 
Adams (2001), views budget as a future plan of action for the whole organization or a sector thereof. Budgets are plans that deal with future allocations and utilisation of resources to different activities over a given period of time. For any organisation to make progress or achieve its goals, it needs capital and to be able to make profit, it requires planning of its resources, which can only be achieved through budgeting, hence budgeting serves as a tool for financial planning.
 
Batty (1982), defined budgetary control as a system which uses budgets as a means of planning and control- ling all aspects of producing and or selling commodities or services. This is true as we tend to prepare revenue and expenditure variance analysis to be able to deduce areas of divergencies for which the management  needs to watch to avoid embarassment as any adverse variance will translate into inability to meet the corporate objective which will eventually lead to disagreement with stakeholders.
 
Pandy (1985) has observed that although many people will complain about budget and its process, budgets are indispensable in a large modern organisation as the benefit that occurs from budgets and its control is much greater than the cost involved. In view of this, the fact that resources are scarce, coupled with high competition that permeate most businesses, budgets when rightly applied, would be an effective tool for planning and con- trol, especially in large corporation as Cadbury Nigeria Plc.
 
Lucey  (2010),  in  support  of  the  CIMA‟s  definition  de- fined budget to be a plan quantified in monetary terms, prepared and approved prior to a defined period of time, usually showing planned income to be generated or ex- penditure to be incurred during the period and the capital to be employed to maintain the given objective. From this definition, we can as well state that budget is an aid to making and coordinating short range plan; a device  for communicating plan and objectives to various responsibility centres and a basic evaluation of performance.
 
Therefore, it can be said that budget is a parameter  which measures the actual achievement of people, departments, ministries and firms, while budgetary control ensures that actual results are positively or negatively in accordance with the overall financial and policy objectives of the establishment.

1.2 Statement of Problem

The decision as to how to distribute limited financial and non-financial resources, in an effective and efficient manner, is an important challenge in all organisations.  In most large and complex organisations, this task would be nearly impossible without budgeting. Without effective budget analysis and feedback about budgetary problems, many organisations would become  bankrupt. Some of the problems arise from inadequate data to formulate and implement a proper budget; and non existence of well defined structure, which leads to overlap- ping of duties. These deficiencies can therefore be addressed through the use of budgeting technique. There- fore, this study traces the extent by which budgeting can used as a good planning and controlling tool in a  construction company.
 
1.3 Objectives of the study
The main objectives of this study is an evaluation of financial and budgetary control in construction industry in Nigeria.
The specific objectives are thus:
 

• To examine the extend to which budgeting technique serve in a construction industry in Nigeria
• To investigate how budgeting aid the planning of a construction industry profit in Nigeria
• To ascertain whether control affect the working performance of employees in a construction industry in Nigeria
• To find out if construction industry in Nigeria lack adequate skill for planning and controlling policy formulations and implementations
• To investigate whether inadequate data and records create problems for construction industry in formulating effective budgeting?

1.4 Research Questions

The study was guided by the following research questions:

1. a) What importance does budgeting technique serve in a construction industry in Nigeria?
2. b) How does budgeting aid the planning of a construction industry profit in Nigeria?
3. c) How does budgetary control affect the working performance of employees in a construction industry in Nigeria?
4. d) Why do construction industry in Nigeria lack adequate skill for planning and controlling policy formulations and implementations?
5. e) In what way do inadequate data and records create problems for construction industry in formulating effective budgeting?

1.5 Research Hypothesis

For the purpose of analyzing the data, the following hypotheses were tested:

1. a) Ho1: There is no significant relationship between budgetary planning and control on organisation performance;
2. b) Ho2: Effective budgetary control does not influence the result achieved;
3. c) Ho3: Budgeting technique is of no importance in a construction industry;
4. d) Ho4: Budgetary control does not affect the working performance of an employee in a construction industry

1.6 SIGNIFICANCE OF THE STUDY
This study will be of importance to building professionals and the general public because it would not only clarify but also create awareness of the extent to which inadequacies in cost control techniques can adversely affect project performance. The study will also help contractors, clients, consultants and all parties involved in construction projects about ways of improving their current method of cost management and control.
The study will also be of great benefit for other student researchers’ who may want to venture into the same subject matter. Having gotten results-both empirically and theoretically, the study will serve as a foundation for future research studies.
1.7 SCOPE OF THE STUDY
The study will cover some selected quantity surveyor. All findings and recommendations from the study may not reflect the true view of the traditional roles and changing roles of quantity surveyors as the researcher could not cover a wider area due to financial and time constraints.
1.8 DEFINITION OF TERMS

• Construction:In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking. Normally, the job is managed by a project manager and supervised by a construction manager, design engineer, construction engineer or project architect
• Deliverable: Deliverable is a term used in project management to describe a tangible or intangible object produced as a result of the project that is intended to be delivered to a customer (either internal or external). A deliverable could be a report, a document, a server upgrade or any other building block of an overall project.
• Project management:this is the discipline of planning, organizing, motivating, and controlling resources to achieve specific goals. A project is a temporary endeavour with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.
• Time: This is a dimension in which events can be ordered from the past through the present into the future, and also the measure of durations of events and the intervals between them.
• Cost: A cost is the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.
• Cost overrun: occurs when the final cost of the project exceeds the original contract value at the time of completion.
• Good cost performance project: Project in which the cost overrun of the project does not exceed 10 percent of the initial budget.

·         Poor cost performance project: Project in which the cost overrun of the project exceeds 10 percent of the initial budget

ABSTRACT
This work is on Accounting Professions And Its Role In Accountant General Office, Kogi State. The study is  survey research  type  where  cross-sectional design was used. The  population  of  this  study comprised of  sixty (60) staff  of  the  office  of  the  Accountant-General of Kogi state and the sample size of forty two (42) respondents were obtained using convenient Non- probability sampling technique. Primary source of data was used through which questioner and interview methods were used in collection of collect data. Data collected were presented via tables,  descriptive  statistics – percentages, mean and standard deviation and data  generated  were  analyzed  using Chi-square. The study revealed that Checks and balances which is the primarily aim of enhancing transparency and accountability is not effective, as a conseavence  financial records are  not  been  properly kept  and  updated. The study therefore recommends that:- the office of the Accountant General of  Kogi  State  should  ensure  that each payment to be made is properly approved and authorize  to  ensure  check  and  balances. This  if done will enhance their level of productivity and also simplify their job schedules.
 
 
 
 
 
CHAPTER ONE
INTRODUCTION
 

• BACKGROUND OF THE STUDY

 
Public sector is mainly established to provide services to the general public; these services cannot be efficiently and effectively provided without government accounting. The focus of government accounting is the determination of how much money was received and the sources of such receipts, how much money was spent and for what purposes and what remains after meeting the financial obligations. In line with this statement, Public finance and particularly the financial management and accounting of government institutions have become fundamentally important:-
 
Public finance has been described as the collection and disbursement of funds for public use (Corbally, 1962, Osuntokun, 2003). It has also been regarded as the financial activities of public authorities in terms of taxing, spending, borrowing and lending and it involves the means of providing for the expenditure involved in the staffing, equipment and maintenance of educational institutions (Adesua, 1981, Charles, 2002).
 
Accountant-General of the Federation is referred to as  the Chief Accounting Officer for the receipts and payments of the government of the federation (Financial Regulation 107(a) 2009), also at the state level, the Accountant-General of a state is referred to as the “Chief Accounting Officer for the receipts and payments of the government of the state.
 
As a result of more interest in receipts and payments account, the government accounting practice that evolved over the years focused on cash receipts and disbursements on the basis of budgetary headings to reveal the balances available at a given time under various heads and sub-heads of votes. This therefore means that the basis of accounting in government is normally the cash basis (or modified cash) rather than the accrual basis of the private sector. Under the cash basis, the government revenue is recorded and accounted for when cash is received and expenditure is incurred when cash is paid irrespective of the accounting period in which the benefit is received or the service rendered.
 
The Accountant-General being the chief accounting officer of receipts and payments is also concerned with efficient management of public resources and to also give evidence of accountability of those resources. Okoh and Ohwoyibo (2009) opine that accountability reflects the need for government and its agencies to serve the public effectively in accordance with the laws of the land. Appah (2010) point out that with the number and monetary value of public sector activities has increased substantially. This increase in activities has brought with it an increased demand for accountability of public officers who manage these activities of the public
 
1.2 STATEMENT OF PROBLEM
The problems of this study include: One of the most prevalent problems facing the office of the Accountant General of Kogi state towards ensuring effective management of public funds is mediocre and unqualified personnel, hence giving loopholes for embezzlement and financial misappropriation. Secondly, keeping adequate records of collections and disbursements which is essential to management of public funds is very difficult. Thirdly, proper accountability is not ensured towards collection and disbursement of public funds and fourthly, Public officers saddled with the responsibility of managing and ensuring effective public funds are the same officers that misuse the advantage of their offices to misappropriate funds thereby eroding the confidence in the minds of tax payers. And as such, substantial development in the society will be hindered. Availability of adequate fund, coupled with efficient financial management constitutes the required catalyst necessary for timely execution and completion of development projects and other activities by the state.
 
It is in light of the above that this study analysed Accounting Professions And Its Role, where  the office  of   the Accountant-General of   Kogi  state was used as a case study
1.3 OBJECTIVES OF THE STUDY
The study set to achieve the following set objectives:-
1.To assess whether the accountant-general  abuse the authority given to them with respect to management of public funds.

2. To assess whether the staff of the accountant-general office is adequate and qualified to effectively collect and disburse public funds.

3.To assess the contributions of state Accountant-general in ensuring proper accountability of public funds.

• RESEARCH QUESTIONS

1. Does accountant-general abuse the authority given to them with respect to management of public funds?
2. Does the staff of the accountant-general office is adequate and qualified to effectively collect and disburse public funds.?

3.What are  the contributions of state Accountant-general in ensuring proper accountability of public funds?
1.5 HYPOTHESIS

1. Staff of the Accountant-general office of Kogi state are not adequate and qualified to effectively manage public

2. Accountant-general and his staff do abuse the authority given to them in ensuring effective management of public funds

3. Accountant-general does not ensure proper accountability in the management of public funds

 
 
 
1.6 SIGNIFICANCE OF THE STUDY
This research work which focuses on Accounting Professions And Its Role In Accountant General Office, Kogi State will be of great importance to federal, state and local governments who are basically responsible for incurring public expenditure. This is because this research work will awaken their consciousness on the enormous role accountant general plays on the control of public expenditures.
This research will also be of great importance to administrators of public institutions who before now may be ignorant of the roles accounting plays in ensuring transparency and accountability in the execution of public expenditures.
 
Finally, this research will also serve as a stepping stone for students of institution of higher learning who may be researching on similar or topic related to this. It could help precisely on the review of related literature.
 1.7 SCOPE AND LIMITATIONS OF THE STUDY
In the course of this research the researcher examined the role of accounting in the control of public expenditure in Nigeria. However, this research covered only the FIST Bank of Nigeria, Enugu branch.
This research work is not free of limiting factors. The researcher was constrained by the following factors:
FINANCE: Previously, research project such as this use to be a joint or group work, but now is embarked upon individually. Thus, the meager fund at the disposal of the researcher constrained her from extending the research to other branches.Some other public (government) establishment in addition to the FIST bank would have been visited by the researcher if not for this constraint.
SCARCITY OF RELATED LITERATURE: Most of the libraries visited lacked journals with articles related to the topic of this study. Even when there is related article, such article will not give detailed analysis of the topic. More so, there is scarcity of already made research on this topic. Although one was gotten in the course of the research for it, but its contents were insufficient for this study. All of these constrained the research from making intense analysis.
STANDARD COSTING: Nweze (2014:80) defined it as a system of cost accounting which makes use of predetermined cost relating to each element of cost layout, material and overhead for each line of product manufactured or service supplied.
BUDGETING: Adeniji (2009) defined it as the processes involved in making a budget. That is the act of constructing a budget.
BUDGET: Adeniji(2009:596) defined it as a financial summary of estimated incomes and expenditure of government for a fiscal year.
BUDGET IMPLEMENTATION: The is defined as the execution of budget through either revenue generation or public expenditure.
BUDGETARY CONTROL: This is the methodical control of an organization’s operations through establishment of standards and targets regarding income and expenditure and a continuous monitoring and adjustment of performance against them.
ACCOUNTING CONTROLS: These are measures instilled by a good accounting system to ensure accurate recording of transaction, adherence to rules, safety of assets and accuracy of financial statement.
ACCOUNTING SYSTEM: This is defined as an organized set of manual and computerized accounting methods, procedures and controls established to gather, record, classify, analyze, summarize, internet and present accurate and timely financial data for management decisions.
PUBLIC INSTITUTION: This is defined as an institution or organization owned and majority managed by the government for the interest of the general public. ADMINISTRATOR: This is an individual who administers affairs, one who directs, manages, executes or dispenses, whether in civil judicial, political or ecclesiastical