AUDIT AND

INVESTIGATIONS.
*Introduction
*Audit programme.
*Departmental Accounts.
-Grants Account.
-P.G. School Account
-Goods and Services
Account.
-Internally generated Revenue
Account.
*Reporting format
* Conclusions.
INTRODUCTION
• Meaning of Investigation.-It is
the analysis and examination
of accounts of an organization
for specific purposes. The
review and the examination
may involve both financial and
non financial information.

• In most cases , investigations

are commissioned to gain an
insight into the affairs of an
organization to take some
business decisions.
• Types of Investigations:
- Purchase of business
- Purchase of shares in a
company.
- Participation in partnership
- Practical fraud, suspected or
actual.
AUDIT PROGRAMME
• Before the commencement of audit investigation,
the auditor must sit down and draw up his audit
programme.
• You need to obtain terms of reference
• Determine the scope of the assignment.
• Determine your duties as an auditor in relation to the
assignment.
• Obtain information from the University management
with respect to the suspected or actual fraud.
• Examine all the books of account and documents.
• Carry out the summary of income and expenditure in
the period to determine the actual cash flow.
• Compare the cash flow with the balance on hand and
in the bank.
• Carry out a review of assets purchased during the
period and make verification by inspection for actual
existence.
DEPARTMENTAL
ACCOUNTS
• Most of the departments and faculties in the University have :
- Goods and services account.
- Grants account.
- P.G School account
- Internally Generated revenue account.
- Other relevant accounts.
• Examine all the books of account and documents.
- Look for the commitment cards.
- From the commitment cards you can note the payment vouchers
number and the allocations to that department .
- Examine the payment vouchers, particularly assets purchased.
* Did all the vouchers pass through Internal Audit scrutiny?
* Fish out salary advances that have not been cleared.
* Are the internal control procedures with respect to payment observed?
* How about the e-payment . Compare the name on the Voucher with what
obtains on the e-payment details.
-

• Carry out the summary of income and expenditure in the period to determine the actual cash
flow.
• Compare the cash flow with the balance on hand and in the commitment card.
• Carry out a review of assets purchased during the period and make verification by inspection
for actual existence.
Reporting Format
The report of investigation should follow the following
pattern:
1. Subject matter – The subject matter should be clear
from the heading of the report.
2. Analysis and tables-Details of computations and
tables should be an appendix to the report.
3. Reservation- The auditor should include any
reservation he has or where there are doubts in his
report.
4. Simple language- The language of the report should
be simple. Technical terms used should be defined.
5. Conclusion- The report should summarize the
recommendations and conclusion.
CONCLUSION
• Modern audit &investigation are carried out in a computerized
environment and as such requires the use of CAAT’s.
-Audit Command Language (ACL)
- Interactive Data Extraction &
Analysis (IDEA)
- Structural Query Language (SQL)

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CONTACT:A.L.O.FANIRAN
E-MAIL: ao.faniran@mail.ui.edu.ng

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