Thesis Abstract

Abstract
Auditing plays a crucial role in ensuring organizational effectiveness by providing independent and objective assurance on the reliability and integrity of financial information. This research project aims to explore the multifaceted role of auditing in enhancing organizational effectiveness through various mechanisms. The study will investigate how auditing practices contribute to improving internal controls, risk management, and overall governance within organizations. By conducting a thorough literature review, this research will delve into the theoretical foundations of auditing and its impact on organizational performance. It will analyze the relationship between auditing quality and organizational outcomes, including financial performance, compliance with regulations, and stakeholder trust. The research will also examine the role of auditing in detecting and preventing fraud, errors, and irregularities that could undermine organizational success. Furthermore, this project will investigate the role of auditing in fostering transparency and accountability within organizations. Auditing processes help ensure that financial statements accurately reflect the financial position of the organization, enabling stakeholders to make informed decisions. The study will explore how effective auditing practices can enhance the credibility of financial reporting and strengthen investor confidence in the organization. In addition, the research will explore the role of auditing in promoting ethical behavior and corporate social responsibility. Auditors play a critical role in assessing the ethical practices of organizations and identifying areas for improvement. By evaluating the ethical climate within organizations, auditors can help prevent unethical behavior and promote a culture of integrity and accountability. Moreover, the project will examine the evolving landscape of auditing in the digital age and its implications for organizational effectiveness. As organizations increasingly rely on technology for financial reporting and data management, auditors need to adapt their approaches to address new risks and challenges. The research will investigate how auditing practices can leverage technology to enhance efficiency, accuracy, and effectiveness in ensuring organizational compliance and performance. Overall, this research project aims to provide valuable insights into the critical role of auditing in promoting organizational effectiveness. By exploring the various dimensions of auditing practices and their impact on organizational performance, this study will contribute to a deeper understanding of the importance of auditing in today's complex business environment.

Thesis Overview

Corporate performance management is the area of business intelligence involved with monitoring and managing an organizations performance such as revenue, returns in investment, overhead, operational cort etc. Price Walter house Cooper (2012) noted that it provides the avenue for translating a company’s strategy into measurable targets, in monitoring and evaluating how the company is doing. Corporate performance management gives management, investors, and other stakeholders a real time picture of how the organization is actually in line with its corporate targets so that corporate actions can be taken where necessary.
Margaret (2011) pointed out that it encompasses strategic planning, budgeting, forecasting, work fork, reporting, modeling, scenario planning, profitability analysis, key performance indicate monitoring and consolidation as it addresses both financial and generating activities of the business entity.
The key performance indicators according to Massey (2011), means the company’s progress as they relate to its goals and strategy and are usually enshrined in the financial statement of such companies. Harper (2012) and institute of centered accountant of Nigeria (2009) defined the financial statement as a formal record of the financial activities of a business, person or other entities; relevant information about the reporting entity are presented therein the financial statement and in a structured and easily understandable manner, having the following components.

          The very essence of financial statement is deeply routed in the companies and Allied matters Act (2004:5331) which states that “every company shall keep proper accounting record and such records shall be sufficient to show and explain the transactions of the company and shall be such to:

      Information emaciating from the financial statements are so vital that it helps a wide range of users such as shareholders, government, financial institutions, employees, creditors/suppliers, media, the general public etc. in making economic decisions.
Kleinschmidt (2007) pointed out that the very fact that ownership of companies differ from management, their trust is not enough to guarantee the accuracy of such financial statements prepared by management as they emphasized tend to conceal the following:

On account of the above challenges, the need for an independent appraisal of the state of affairs in any company cannot be over emphasized. Little Wonder Paul (2009) was quoted to say that “an audit can be compared to an annual checkup with the doctors, the auditor being the doctor while the company is the patient” in the same vein, section 359(1) of the companies and Allied Matters Act (2004) mandated and the need for auditing of companies individuals and on government accounts to guarantee a reasonable level assurance that the financial statement are true and fair, represent state of affairs at the company. This, Okezie (2008) pointed out helps to reduce or settle disputes that might otherwise arise regarding acceptance of the annual reports and accounts of companies.
In the lights of the foregoing, the researcher shall examine auditing, not just as a concept but also as an exercise, with a view to determining its place as the backbone of organizational effectiveness