Abstract:
Audit report is indeed very relevant to public sector
organizations. As such, its credibility is highly needed. When an
audit report losses these two qualities; relevance and credibility, it
looses its worth and can no longer be relied upon.
The study is oriented towards identifying set objectives for
audit report and the implementation of the objective directed
towards the growth and operational efficiency of the organization.
Audit report should be designed to comply with the statutory
requirements of audit and of the organization concerned.
Both primary and secondary data were collected from the
University of Nigeria Teaching Hospital Ituku/ozalla, National
Orthopaedic Hospital and the Power Holding Company of Nigeria
Plc Enugu Zonal Office. Tables and percentages were used to
analyze and interpret the collected data. However, findings from
hypothesis testing show that the relevance and credibility of audit
report is never in doubt and that audit report when relevant and
credible, helps in checking fraud and other irregularities in the
organization. However, there exist some lapses on the part of the
management which the researcher has made some
recommendations for improvement. Other measures that can aid
credibility to an audit report were also recommended.
In summary, the researcher do not claim to have carried out
an exhaustive study on the subject matter, hence, she has put up
some suggestions for further study.
