EVALUATING ACCCOUNTING AND AUDITING SERVICES FOR NON-PROFIT MAKING ORGANIZATION IN BENIN CITY, EDO STATE

Atu, Efosa Collins (), Agbo, Innocent Sunny and Atu, Osaro Favour ()
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Atu, Efosa Collins: Staff Zenith Bank,, Postal: Ph.D Student Igbinedion University, okada.,, https://www.afarng.org/jfafi/
Agbo, Innocent Sunny: Accounting Department, Postal: Lecturer Igbinedion University Okada, https://www.afarng.org/jfafi/
Atu, Osaro Favour: Cost Controller, Postal: Okomu Oil Palm Plc, Edo State.,, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2021, vol. 6, issue 1, 136-154

Abstract: This study intends to provide rational assurance as to the accuracy of financial statements of an organization. Many organizations have experienced financial failures that eventually distorted their organization. Globally, over 28% of organizational declaring bankruptcy faced problem with the financial structure of their organization as the main cause of failure. Many others have existed and is still existing with no proper records ranging from books of account to financial performance which attracts investors. This led to the demand for audit services by many non-profit making organizations' operating in the country to avoid the numerous incidences of falsification of financial documents. The result further proved that audit firms render audit service to non-profit making organization, this is because about 90% of the respondent ticked “YES” The policy recommendation is that, recommended accounting standards like the IFRS and IAS relating to the financial transactions of non-profit making organizations should be checked regularly to ensure they are adhered to, in other to make the work of auditors easier and less costly.

Keywords: International accounting standard (IAS); International financial reporting standard (IFRS) (search for similar items in EconPapers)
Date: 2021
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Journal of Forensic Accounting & Fraud Investigation (JFAFI) is currently edited by Godwin Emmanuel Oyedokun, Muhammad Akaro Mainoma and Suleiman A. S. Aruwa

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