The needs to carryout research on the prospects of computerized audit system in Nigeria as a result of the advancement in the usage of computer in the business world.  Technological advancement is in retrospect to early 1950’s the first world stored program computer EDSAC was built in 19s50 at Cambridge while the first commercial stored computer was UNIVAC land used by America Bureau at census in 1951, in 1953, office computer “Leo” was introduced and since the computer of various sizes speed; reliability are new conceived an extremely wide rage of application without any changes in the fundamental principal.  The research work started with an introduction to the topic and ended with recommendation. It consists of five chapter’s altogether in which each chapter deals with an important aspect of the topic and the responds at all my interview on respondent. This has helped a lot in reading a logical conclusion about the prospects of computerized audit system in Nigeria and the introduction of the topic, the objective of the study, limitation and delimitation of the study and finally and definition of terms, chapter two based on literature review and stated with the historical background of the Wema Bank Nig. Plc which happen to be case study of the research work.  Chapter three also deals with the research methodology. It explains various methods put in place in conducting research. It ranges from observation method to questionnaire method and friendly talks about the problem encountered during the course of this research work. Furthermore more chapter four deals with analysis of data activities of the organization as a while finally chapter five deals with the summary, conclusion, recommendation and suggested area for further research and bibliography which end the research work.




Title page                                                             i

Certification                                                                   ii

Dedication                                                            iii

Acknowledgement                                                         iv

Abstract                                                                         v       

Table of content                                                             vi



1.1     Introduction                                                        

1.2     Justification of study

1.2     Statement of problem                                          

1.3     Objective of the study                                          

1.4     research of the study                                           

1.6     Scope of the study                                              

1.7     Limitation of the study                                        

1.8     Literature review                                                 



2.0     Literature review                                                 

2.1     Historical background of Wema bank Nig. Plc             

2.2     Introduction of computer       

2.3     Importance of computer in auditing                                                 

2.4     Manual and computer audit system compared                       

2.5     Electronic data processing and the auditor

2.6     Computer auditing approaches

2.7     Computer assisted audit techniques

2.8     Desirable safeguard of segregation of duties  

2.9     Computer audit working papers.



Research methodology  

3.1     Introduction

3.2     Selection of study area

3.3     Observation method

3.4     Personal interview 

3.5     Questionnaire

3.6     Problems encountered


4.0            Analysis of test of hypothesis, results and implication of statistical test  

4.1     Introduction to data analysis

4.2            Impact of computer on accounting system in the productivity of accounting of accounting personnel.  

4.3     Impact of computer and quality of accounting service      



5.0     Summary, conclusion and recommendation                 

5.1     Summary                                                   

5.2     Recommendation                             

5.3     Conclusion                                                

5.4     Suggestion for further research                           









An audit is define as the independent examination and expression of opinion on the financial statement f an enterprises by an appointed auditor in accordance with his terms of engagement and in compliance with an relevant statutory obligation and ethnical requirement. 

Accounting can be seen as set theories; concepts and techniques by which financial data are processed into information for reporting, planning, controlling and decision making purpose or the processes of recording classifying reporting and interpreting the financial data of an organization. Accounting involves actual writing of books, compilation of record and eventual preparation of financial statement where and auditing involves the examination of the completed book and records and subsequent submission of the reports by the auditors.

Accounting can be seen as a management information system. It help manager to perform their duties of reporting on how they have managed fund entrusted to their care share holders who appointed the manager to manage their financial and economic interest would be interested to know what has happen to such  investments in that particular period or year.

Today, limited companies are owned by shareholders and often managed by directors, appointed by the shareholders.

The reporting between the shareholders and the directors take the form of stewardship accounting reports are reports of financial state of affairs of an enterprises state a particular point in the time and it is used by the share holder, potential investors as the tools for making decision.     


-                     FINANCIAL STATEMENT

-                     MANAGEMENT ACCOUNT

-                     ACCOUNTANT REPORT

-                     SHARE VALUATION REPORT

A lot of problems often exist when managers reports to the owners (shareholders) the reports many contain errors, may fail to disclose relevant information as regarding the organization.

The objective financial reports are of varying degree but primarily the information is for the purpose of decision-making. Each decision maker judges what account and financial information useful for him such decision are influenced by the availability of information and the capacity of the decision maker to process the information presented to him for the purpose of his assignment.

Accounting report should therefore provide information that is useful to the management in making decision in maximizing the objective of the organization.    

The accounting  of multinational company is very complex to rational because it involves voluminous transaction and entries which must be integrated, summarized and presented in such a way to depict the relationship between the group (i.e holding and its subsidiary) and to  show the accounting concepts conventions and control system being adopted in the organization.                

The manager of these companies might find it very difficult in getting the correct information and proper recording.

The introduction of computer which has  become a household name in the world today make it possible to have then required information within a short period of time. The computer wide spread acceptance in business world is facilated by its accuracy speed and flexibility in data processing.  

The increasing volume of data and urgency at which information is being required and coupled with the efficiency of computer have made companies to computerized their accounting system.

Especially in advance countries, in Nigeria many companies especially multinational and banks have started giving attention to the need for their system to be fully or partly computerized therefore this study is here designed to examine the prospect of computerized audit system in Nigeria especially in banking industries.      



The objective o this study is to evaluate the ability of computer to detect error and irregularities and friend effectively.     



The project will intend to look into the inability of auditor to take cognizance of the problems that is affecting the advancement in the computerized accounting system or audit system in a computerized accounting system or audit system in computerized accounting and believed that computer’s error, irregularities and fraud is difficult to detect unless one is versatile with the use of different accounting packages and audit assisted programme in a computerized environment.

In any computerized environment, the following problems are common within the system of the company.

i.                   Weakness in the internal control system in most of computerized system their internal control system is always weak because they don’t take cognizance of their policies, safeguard the asset and secure as for as possible the competence and accuracy of their records.

ii.                 Fraud is common in a computerized accounting system because it is difficult to detect fraud in a computerized accounting system, unless special attention is paid to some technical area in the system fraud cannot be detected.  

iii.              Use of program by an authorized person in another problem that is associated with the use of computerized accounting and audit system.

iv.              Use of unqualified personal. Due to the fact that the appointed of staff this day base on “man know man” it is difficult to have a qualified person handling the job in a computerized environment.

v.                 Segregation of duties: It is common to every company that is operating a computerized system to be responsible for the operating and processing of various transactions that ought to have been performed by various staff by a single staff.



The justification of the study is to identify the possible benefits that the study of computerized audit system will bring to the management of Wema Bank Nigeria Plc, Investors (President and potential) and the Nigeria economy as a whole.

This project is to make clear the merit of computerized audit system in Nigeria especially in banking industries.

Secondly, this study is to show how computerized audit system helps the management in bringing about greater efficiency and effective use of resources.    

Thirdly, this study reveal the importance of internal control system in the operation of the company in a computerized audit system, it is the level of internal control that will enable the auditor whether to rely on the information supplied in a company.

Lastly, the study will unmask the deficiencies in the manual or conventional auditing practices in Nigeria particularly in banking industry as applicable to Wema Bank Nigeria Plc



This research work zero on the internal control system out in place by the management of the company, it is this control that win dictate the effectiveness and efficiency of the management as well as the quality of the work being performed by this personnel.

The study also try to compare the manual audit process with a computerized audit process which enable the researcher to know the advantageous one out of the study or of the two processing, therefore the whole work is all about audit.  

Lastly, the study will be limited in a scope to evaluate a bank until unit as an independent or separate department in the banking industry (Wema banks of Nigeria plc as a case study). The banking industry from the core of Nigeria economy and as such we have a high rate of fraud in the banking operation



This study will be limited in scope to evaluate a bank audit as an independent or separate department in the banking industries (Wema Bank plc a case study). The banking industry from the core of the Nigeria economy and as such we have a high rate of fraud in the banking operation. 

Also this research work zero on the internal control system put in place by the management of the company’s, it is this control that will dictate the effectiveness and effectiveness and efficiency of the management as well as the quality of the work being performed by this personnel.

The study also try to compare the manual audit process with a computerized audit process which enable the researcher to know the advantageous one out of the study or of the two processing, therefore the whole work is all about audit. 



There are many constraints to this study among of them are financial constraints which has limited the number of trip. I have to make to the place of study. Another one is the time constraints as there is a deadline for the submission and defense of the project work. Also, materials to be used are limited and some information needed was unable to be received a s a result of duty of secrecy in the banking industry.  

However, adequate care must be taken to ensure that then above limitation do not jeopardize the quality and validity of the findings.



In this section, a proper study of the structure of bank will be examined as applicable to Wema bank Nigeria Plc. The nature of the audit system and the related control in computerized audit environment in banking industry

According to banking decree promulgated in 1969 a bank means clay person who carries on banking business.

In the same Wema bank Nigeria Plc was incorporated in 18th November, 1981 and engaged in all aspect of commercial banking. The bank has been describe as a private profit seeking financial institution. 


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