This project work examined the role of management audit in evaluating organizational performance. The main objective of this study is to ascertain if management audit is a means of evaluating organizational performance and efficiency. The primary source of data collection which includes the personal interview and questionnaire were source to gather useful information during the project work. Simple percentage was used to analyze the data obtained. The chi-square was used to test the hypothesis drafted. The result reveals that good internal control system is the strong back bone to any establishment and objective, this internal audit department staff has to be sincere and honest. It was concluded that management audit should be carryout at a piece meal or continuous basis and it was recommended that control should be simplified and lines of accountability made direct.
TABLE OF CONTENTS
Table of Contents
Chapter One: Introduction
1.1 Background to the Study
1.2 Statement of Problem
1.3 Research Questions
1.4 Objectives of the Study
1.5 Statement of Hypotheses
1.6 Significance of the Study
1.7 Scope of the Study
1.8 Limitations of the Study
1.9 Definition of Terms
Chapter Two: Review of Related Literature
Chapter Three: Research Method and Design
3.2 Research design
3.3 Description of the Population of the Study
3.4 Sample Size
3.5 Sampling Techniques
3.6 Method of Data Collection
3.7 Method of data Presentation
3.8 Method of Data Analysis
Chapter Four: Data Presentation, Analysis
4.2 Presentation of Data
4.3 Data Analysis
4.4 Testing of Hypothesis
Chapter Five: Summary of Findings, Conclusion
5.2 Summary of Findings
The establishment of this organization is to produce and distribute coca-cola products and they are geared towards making profit through this goods and services they offer, this result is qualifiable and can easily be measured against predetermined standard.
In an attempt to achieve this objective this organization used some kind of internal control which every staff of the organization has to adhere to accordingly. The measure of the success of this organization is a reflection of the quality and effectiveness of its management. Management accounting to Breach, is a social process entailing responsibilities of the effective and economic planning and regulation of the operation of an enterprise in fulfillment of a given purpose or task. Such responsibilities involve:
Some organizations dos well than the others in the same environment with almost the same financial economic resources.
In efficiency and ineffectiveness of an organization result form may factors like bad management, fraudulent practices, lack of experience, planning and lack of good management skills. Management audit will reveal all this and recommend to the management the appropriate position and suggest solution to individual problems, then all this problems were started in the terms of reference to the management audit term.
The exercise is designed to check all levels of management. From the chief executive officer to the lowest rank officer of this organization. The independence of the management audit term has played a very crucial role in affecting the performance of the organization and to crown it all, the attitude of the management to the management audit term report has also has a very crucial role to play in measuring the extent at which management audit has affected performance in this organization.
It is a clear fact that this organization is established to make profit the worth of a firm is determined by the financial statement prepared by the management and an independent body (the external auditors) which is called up as to examine the accounts and report on the fieriness of the account opinion. In the establishment of the organizations the objectives and goals are spelt out in the memorandum and article of association which guide their activities internally and externally as the case may be. It is an often occurrence that in an attempt for an organization to work towards achieving their desired goods and objectives in the most effective and efficient manner, the Westford some resources and left untapped as a result of either inadequate technical know hoe, experience business acumen or mismanagement of fund.
This study therefore is aimed at establishing how management audit has affected the evaluation of performance in the NBC plc coca cola company and makes necessary recommendations in the area of weakness in the organization. With the data gathered so far, it crystal clear that this organization can never do well without a good system of internal control which in there hands of the management, and this is the main focus is the management audit which ensure that this system of this external control is well planned and prepared and ensure that management conform to it because this ahs a great effect in increasing performance.
An interview was conducted in order to ascertain of the following;
The following objectives were to be achieved by the researcher during the course of this research;
The hypotheses used for the purpose of this study have been divided into four;
HO: Management audit is not a means of evaluating organization performance and efficiency.
HI: Management audit is a means of evaluating organizational performance and efficiency.
HO: Management audit cannot have position change in an organization.
HI: Management audit can have position change in an organization.
HO: Management audit does not contribute to the economic development of the society.
HI: Management audit contribute to the economic development of the society.
HO: Management audit does not enhance the overall efficiency of the organization.
HI: Management audit enhance the overall efficiency of the organization.
Management audit has been increasingly important in the model management. In the face of increasing cost of operation resulting from high cost of input, rising risk in international political economy, any responsible organization can no longer afford the luxury of either over staffing the best laid goals of an organization. irrespective of the planning expert can be frustrated, it would be seen as inadequate and well round staffing structure, hence the role of management audit.
The inviolability of management audit in less developed countries cannot be overemphasized. This research work will clearly and lucidity spell to all that is involved in management audit as well as the compelling need of such an exercise from time to time. Management audit is not only this organization but any other organization which wishes to continue in existence and remain competitive for both human and non-human resources.
This research work covers all aspect of management audit in the coca-cola company it examine the doings and positions of every workers and see if there is need for a change in the management of the organization and for making and taking strategic and tactical plans and decision respectively. With reference to management, the underlying study is audit as it affects procedure for taking decisions, carrying out business and the goals and objectives of the organization. This study was basically carried in Benin City and a time frame of 5 years was used in the course of this study (2008 – 2013) with a sample of 40 respondents for easy clarification.
This project work suffered several limitations, which vary in different stages and forms in the course of the research work. Briefly put the time allocated for the work of this magnitude was rather too short, distance was another constraint which militated against this work, and sources of information failure by some officers to keep their appointment are factors which also affected the research work.