The Nigeria economy with the first half of the century experienced quite a lot business failure. Business failure can be defined as the inability of a particular business enterprise to continue to function as a â€˜ going concernâ€™â€™. This development has started generating anxiety by both international and local investors in arriving at investment decision.
However, the task of identifying the root causes of corporate collapse is what this study seeks after. This study is carried out at ensuring a survival dosage of business in post- Harcourt through the use of accounting profession (auditing) to appraise operational performance.
Some of the causes of business failure include mismanagement Bribery and corruption, and poor remuneration etc. the brain behind the failure of business in the political undertone in the management positions.
Based on the findings in the study, the following conclusion were dawn, mismanagement, mode of appointment and selection of key officer, poor co-ordinates management device, government inference, and privatization and commercialization programme.
Finally, it is recommended that business should appreciated the importance of audit as a tool evaluating performance, appointment of board of directors and top management officers should be based on skill, should also institute its commercialization and privatization programme in place etc.
TABLE OF CONTENT
TABLE OF CONTENT
1.1 OBJECTIVE OF THE STUDY
1.2 STATEMENT OF PROBLEM
1.3 STATE OF HYPOTHESIS
1.4 SIGNIFICANCE OF THE STUDY
1.5 SCOPE OF THE STUDY
1.6 LIMITATION OF THE STUDY
1.7 DEFINITION OF TERMS
REVIEW OF RELATED LITERATURE
2.2 THE GOING CONCERN OF BUSINESS
2.2.1 DEFINITION OF BUSINESS
2.2.2 FORMS OF BUSINESS
2.2.3 IMPORTANCE OF BUSINESS
2.2.4 WHEN A BUSINESS IS NOT GOING CONCERN
2.2.5 WHEN A BUSINESS MAY NOT BE A GOING CONCERN
2.3 SYMTOPMS OF IMMINENT BUSINESS FAILURES
2.4 NATURE AND CAUSES OF BUSINESS FAILURES
2.5 THE DEVELOPMENT OF ACCOUNTING PROFESSION (AUDITING)
2.5.1 DEFINITION OF AUDITING
2.5.2 TYPES OF AUDIT
2.5.3 THE AUDITOR AND TH DANGER OF SELF FULFILMENT PROPHESY
2.5.4 IMPORTANCE OF AUDITING
2.5.5 THE AUDIT COMMITTEES
188.8.131.52 NATURE OF AUDIT COMMITTEES
184.108.40.206 COMPOSITION OF AUDIT COMMITTEES
220.127.116.11 FUNCTIONS OF AUDIT COMMITTEES
18.104.22.168 QUALIFICATION OF AUDIT COMMITTEES
22.214.171.124 SIZE OF AUDIT COMMITTEES
126.96.36.199 AUDIT COMMITTEES RELATIONSHIP WITH AUDIOR
2.6 THE EFFECT OF BUSINESS FAILURES ON A DEPRESSED ECONOMY.
RESEARCH DESIGN AND METHODOLOGY
3.2 RESEARCH DESIGN
3.3 SAMPLING TECHNIQUES
3.4 QUESTIONNAIRES DESIGN
3.5 DATA COLLECTION TECHNIQUES
PRESENTATION OF DATA ANALYSIS
4.1 DATA PRESENTATION AND ANALYSIS
4.2 TEST OF HYPOTHESIS
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY OF FINDINGS
5.3 RECOMMENDATION (S)
5.4 SUGGESTION FOR FURTHER STUDIES