Abstract:
The main purpose of this study was to study the practice of auditing in a service delivery company. The research was intended to get the response on how service companies practice auditing.
This study postulates that auditing practicing will be effective if the system is managed well without unnecessary interference. Research on the practice of auditing was done at Electricity Company of Ghana Kumasi. The researchers attempt to know the mode of payments for services rendered. To also find out the security measures put in place to safe guard the assets of the company and to also identify and determine the limitation at the system of internal controls.
Data were obtained through interview and questionnaires administration which were mostly close ended and open ended from twenty one(20) staff members from the company.
This study therefore can be carried by future researchers on the field at auditing for the service companies.
Description:
All over the world there is a realization that the auditing activity has the potential to provide hitherto unparalleled services to management in the conduct of their duties. This potential of auditing has been turned into a challenge and embodied in the new definition of Internal Auditing from the Institute of Internal Auditors (IIA).
Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business. However, recent auditing has begun to include non-financial subject areas, such as safety, security, information systems performance and environmental concerns. Management has the responsibility of instituting internal control measures to guide its operations. All companies are charged by law and other regulatory requirement to prepare final accounts and reports. This will enable users of such information to make decisions
