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Auditing came into existence as a result of demanding for reliable report on the stewardship account that will be present by the management to the wealth provider a third party.

Information is essential to the very existence of the society. The investor making decision to buy or sell securities the Banker decide whether to approve a loan the Government in obtaining revenue based on income tax rapture, are relying on information produced by others. In many of this situation above the goal of the provider of information run directly counter to those of the user. Implicit in this line of reasoning is recognition of the social need for an independent auditor. Individual of professional, competence and integrity who can see the plank to tell us whether the information which we want to rely on constitute a fair picture of what is really going on in an organization.

The passing of the companies act in Britain, introduce by Glad store in 1844 set the scene. It required the registered company’s solvency to creditors similarly the company and allied matter act of 1990 (CAMA) in Nigeria also stated in section 395 (1) that the auditor of a company shall make a report to its member on the accounts examined by them and on all group financial statement copies of which are to be laid before the company in a general meeting during the auditor tenure of office the basic reason for appointing an auditor is just to express an opinion on the financial which he has examined whether it show true and fair situation the growth of auditing recent past has been such phenomenal that management of business assist in the efficient running of the business enterprise.

Phrase like management of auditor committee has surfaced to broaden the significance of work auditors this also resulted in many vita publication on auditing. However this study is an attempt to bring into view the challenging roles that the internal of the business enterprises to a layman the word audit is mainly to detect fraud but it means more than preventing it within the business organization. There are other reasons for having audit work conducted especially the internal audit. Internal audit main function is to assist the management in safeguarding the assets ensuring correctness of financial statement, proper handling of book and records. Internal audit also help to confirm the validity of the transaction that take place in the business and is mainly used by the management but also for the share holder, the inland revenue member of the public and ministerial agencies here it must be clearly stated that the internal auditor serve in an advisory capacity to the management but the management is not duly bound to accept the advice or recommendation. The internal audit work can also aim of providing a basis for up dating of financial and accounting years for up dating of financial and accounting a basis for updating of financial and accounting years thereby building a vivid and healthy accounting department with itself is a check on the excesses of the accounting department staff, as well as other staff e.g. the organization store officers. When people are aware that one time or one day within the accounting year or of all time they may be called upon to explain any ambiguity in the process of records, receipt any fortification or will be discipline, careful and used all their skill in serving the enterprises and make it to utilized the limited available resources. For the owner of wealth to be satisfied the limited available resources for the owners of wealth to be satisfied the limited available resources for the owners of wealth to be satisfied and manager to be justified in establishing and maintaining the integrity potential share holder prospective investor and Government agencies it became necessary to invite an independent person or body who is not involve with either of the parties (management and owners) to examine the steward report. The independent party’s duty is not just more examination of the account from which the financial statement were prepared rather it includes collection all relevant information thought necessary to satisfy him in information of opinion.


The main hindrance against the principle of internal and external auditing a non audit officer, some of those problem are highlighted below:

  1. The fact external audit work depend to some extent on the internal control system put in place by the organization and the reliability of auditor report depends on the degree of accuracy of the records.
  2. Difficulty of an internal auditor to have a reasonable degree to independent in main and attitude due to management influence in their term of references and scope of work.
  3. Lack of cooperation which served as an obstacle because in a situation where staff fails to co-operate the internal audit department in gluing reliable reports, it make the work of internal audit department in effective which automatically affect the smoothness of the work of external auditors.

Some researchers have discussed widely and extensively on this topic perhaps because of concept of auditing is of great importance to an enterprise. This present study well focus on enlightenment of the stock of share holder on the advantages of auditing and now of great importance a sound internal auditing department is this work will give the true image of an internal auditor as a sound internal of other staff not as an enemy. Also this research will be of great benefit to any manufacturing company and assist the management of the bottling company Ilorin plant to adequately effectively and efficiently use their resources by means of a sound internal audit.

   Finally, this study will assist fellow colleague who might also share in the priviledge of undergoing a synonymous course or research in the same field of study.

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