TABLE OF CONTENTS

The title page i
The approval page ii
Certification page iii
Dedication iv
Acknowledgement v
Table of contents vii
List of tables viii
List of figures ix
The abstract x

Chapter ONE

1.1. Background of the study…………………………………………………………….1
1.2. Statement of the problem…………………………………………………………..3
1.3. Research question……………………………………………………………………….4
1.4. Objective of the study…………………………………………………………………4
1.5. Research hypotheses……………………………………………………………………5
1.6. Scope of the study………………………………………………………………………6
1.7. Limitation of the study…………………………………………………………………7
1.8. Significance of the study………………………………………………………………7
1.9. Definition of terms……………………………………………………………………….8

Chapter TWO

2.1. Difference between internal auditing and internal auditor…………….10
2.1.1. The need or objective of internal auditing in power sector……………..11
2.2. Difference between external auditing and external auditor……………..12
2.2.1. Objectives of external auditing…………………………………………………….13
2.3. Qualities of an auditor………………………………………………………………….14
2.3.1. Auditors right………………………………………………………………………………….16
2.3.2. Duties of an auditor………………………………………………………………………..17
2.4. Value for money audit as a tool of fraud control…………………………..18
2.4.1. Value for money objectives…………………………………………………..……….…19
2.4.2. Improving value for money audit………………………………………..………….…20
2.5. Problems and prospects of value for money audit…………………………20
2.5.1. Causes of fraud in the public sector………………………….…………………..21
2.5.2. Prevention measures of fraud in the public sector……………………..…23
2.6. Other preventive measures………………………………………….……………………24
2.6.1. Internal auditor’s role in fraud control……………………..……………………24
2.6.2. Fraud control methods………………………………………….……………………….26
2.7. Core of value for money audit…………………………………………………………27
2.7.1. Value for money audit concept……………………………………………………….31
2.7.2. Scope and emphasis……………………………………………………………………….33
2.8. Auditing and value for money……………………………..…………………………34
2.8.1. Steps involved in carrying out value for money audit…………………………36
2.8.2. Public sector audit………………………………………………………………………….36
2.9. Procedures for value for money audit…………………………………………….37
2.9.1. Value for money audit technique………………………………………………….39
2.9.2. Value for money review………………………………………………………………….41
2.10. Problems of value for money audit in the public sector………………….42

Chapter THREE

Introduction………………………………………………………………………………………..44
3.1 Research design………………………………………………………………………………44
3.2 Source of data……………………………………………………………………………………46
3.3 Population of the study…………………………………………………………………..46
3.4 Sampling size and techniques…………………………………………………………47
3.5 Instrument for data collection……………………………………………………..48
3.6 Validity for instrument of data ………..………………………………………….49
3.7 Reliability of the instrument data…………………………………………………..49
3.8 Method of data ……………………………………….…………………………………..49
3.9 Method of data analysis……………………………………………………………….50

Chapter FOUR

4.1. Data presentation and analysis……………………………………………………..53
4.2. Test of hypothesis…………………………………………………………………………63

Chapter FIVE

5.1. Summary of findings………………………………………………………………………75
5.2. Conclusion…………………………………………………………………………………….77
5.3. Recommendation…………………………………………………………………………78
BIBLIOGRAPHY………………………………………………………………………….80
APPENDIX / QUESTIONNAIRE……………………………………………..82

List of tables

4.1.1 Responses on the extent to which value for money audit is relevant to the effectiveness and control of an organization.
4.1.2 Responses on the significant relationship between internal control and fraud detection.
4.1.3 Responses on the causes of lack of transparency and wide spread corruption in power sector.
4.1.4 Responses on the significant impact of value for money audit in fraud detection and control.

List of Figures

Fig 2.7 Categorization of fraud detection methods
4.2 Anova table
4.2.1 Anova contingency table for hypothesis 1
4.2.2 Anova contingency table for hypothesis 2