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TOTAL QUALITY MANAGEMENT AND SERVICE
DELIVERY OF SMALL AUDIT FIRMS IN NIGERIA
Abstract
The project
examines the evaluation of total quality management and service delivery of
small audit firms in Nigeria. It emphasizes on the development of team success
through the implementation of total quality management practice resulting to
credible output to satisfy the various users of the financial statement upon
which, the auditor’s opinion is relied on. The primary source of data
collection was employed in this study in which questionnaire and personal
interview were used. The findings revealed that total quality management
practice is a continuous work process starting with customer/client requirement
and expectations and ending with their satisfaction. It is concluded that
continuous improvement process toward predictable degree of uniformity and
dependability which must involve all firms personnel. The study recommends that
teamwork establishment and improvement on process planning that focuses
attention on customer’s relationship.
TABLE OF
CONTENTS
Title
Page
i
Certification
ii
Dedication
iii
Acknowledgments
iv
Abstract
v
Table of
Contents vi
Chapter One:
Introduction
1.1 Background to the Study 1
1.2 Statement of Problem 3
1.3 Research Questions
3
1.4 Objectives of the Study 4
1.5 Statement of Hypotheses 5
1.6 Significance of the Study 7
1.7 Scope of the Study
7
1.8 Limitations of the Study 8
1.9 Definition of Terms
8
Chapter Two:
Review of Related Literature
2.1 Introduction
10
2.2 Total Quality Management Practice (TQM) 10
2.3 Benefit of Total Quality Management Practice
12
2.4 Audit firms and its services 13
2.5 The implementation TQM in small audit
firms 16
2.6 Objectives of Total Quality Management 20
Chapter
Three: Research Method and Design
3.1 Introduction 22
3.2 Research design
22
3.3 Description of the Population of the
Study 22
3.4 Sample Size 23
3.5 Sampling Techniques 23
3.6 Sources of Data Collection 23
3.7 Method of data Presentation 24
3.8 Method of Data Analysis 24
Chapter
Four: Data Presentation, Analysis
and
Interpretation
4.1 Introduction
27
4.2 Presentation of Data 27
4.3 Data Analysis
27
4.4 Testing of Hypothesis 44
Chapter
Five: Summary of Findings, Conclusion
and Recommendations
5.1 Introduction
51
5.2 Summary of Findings 52
5.3 Conclusion
53
5.4 Recommendation
54
References
56
Appendix
A 58
Appendix
B
59
CHAPTER ONE
INTRODUCTION
Background
to the Study
Total
Quality Management (TQM) practices and small audit firm’s services delivery
have had accounting antecedence. However, the concept can be traced back to the
early 1920 production control ideal notably, the concept developed in the 1940s
and 1950s by some Americans gurus in the likes of Deming, Juran and Feigenbaum.
The concept,
has many definitions worked upon by quality management discipline such as
Deming, Juran, Crosby, Ishikawa and Feigenbaum who defined the concept in
various ways but the essence and spirit remained unchanged. Furthermore, the
definition of quality have changed with the passage of time, with changing
customer/client’s need nad requirements but the essence has more or less been
able to develop an approach to problem solving and conformation to standard for
customer’s satisfaction (Vindu & Himanshu, 2007).
An audit
consists of a methodical review and objective examination of an enterprise
financial statement which includes the process of verification of specific
information as determined by the auditor of or established practice. The
purpose of an audit is to express an opinion as to whether or not the statement
of account presents a true and fair view whatever it purports to report and to
report accordingly (Conviser & Duffy, 2006).
Distinctively,
total quality management (TQM) practices and small audit firms services delivery
are crucial in the economy in the sense that, shareholder requires the services
of audit firms by appointing auditors to lend credibility to the financial
statement. A lot of people are interested in the financial statements of
companies for one reason or the other.
The users
are refer to as stakeholders and they include shareholders (actual and
potential), lenders (e.g. banks), employees, suppliers, customers government
etc (Odion & Lawani, 2009). These users and indeed the general public sees
the financial disclosures as the end result. Nevertheless, this has agitated
both the managers and employees with increased responsibilities to ensure
increased quality management and services delivery in small audit firms.
The focus of
this study is to determine total quality management practice and services
delivery in small audit firms in Nigeria.
Statement of
Problem
Total
Quality Management (TQM) practice and small audit services delivery by quality
service delivery which comes from inspired management team, employees and
managers at all level look up to executive in small audit firms to set an
example and a tune for the rest of the firms.
Research
Questions
If total
quality management practices can not provide accurate and sound audit services,
what else could? In view of this, the study attempt to address the following;
Does total
quality management practices ensure continuous improvement process in small
audit firms?
Is a total
quality management practice responsible for the objectiveness and effectiveness
of small audit firms?
Is the
concept of total quality management practice used in detecting or eradicating
weakness in small audit firms
Does total
quality management practice reflects a true picture of how small audit firms
need operate.
Objectives
of the Study
It is
impossible for an audit firm to produce outstanding services unless its top
managers engages in Total Quality Management (TQM) practices. Total quality
management practices arouses the understanding of group success. Personal
success is derived from group success and its credit must be distributed among
the team members. Hence, this research set to satisfy the following objectives;
To find out
if there is total quality management practices ensures continuous improvement
process in small audit firms.
To ascertain
if total quality management practices is responsible for the objectiveness and
effectiveness of small audit firms.
To find out
if the concept of total quality management practice is used in detecting or
eradicating weakness in small audit firms
To find out
if total quality management practice reflects a true picture of how small audit
firms need operate.
Statement of
Hypotheses
The
hypothesis of this research is divided into two. They are known as the null
hypothesis (HO) and the alternative hypothesis (HI).
In this
study, four hypotheses were formulated and are to be tested. The hypotheses are
listed as below;
Hypothesis
One
HO: Total quality management practice does not
ensure continuous improvement process in small audit firms.
HI: Total quality management ensures continuous
improvement process in small audit firms.
Hypothesis
Two
HO: Total quality management practice is not
responsible for the objectiveness and effectiveness of small audit firms.
HI: Total quality management practice is
responsible for the objectiveness and effectiveness of small audit firms.
Hypothesis
Three
HO: The concept of total quality management
practice is not used in detecting or eradicating weakness in small audit firms
in Nigeria.
HI: The concept of total quality management
practice is used in detecting or eradicating weakness in small audit firms in
Nigeria.
Hypothesis
Four
HO: Total quality management practice does not
reflect a true picture of how small audit firms need to operate.
HI: Total quality management practices reflect
a true picture of how small audit firms need to operate.
Significance
of the Study
The
significance of this study is to ascertain the dynamics of total quality
management practices and services delivery in small audit firms overall
performance.
Information
derived from this study will be of great benefits to the following members of
the society;
Researcher:
The study will serve as an existing literature for future researchers.
Firm: This
study will provide a basis to audit firm so as to appreciate total quality
management practice.
Scope of the
Study
The study is
to cover audit firms with less than ten staffs, owned by three or less
entrepreneurs and with a capital base of less than ten million naira
(N10,000,000) and that have adopted Total Quality Management (TQM) practices in
its organization. The study practically took place in Nigeria with more
emphasis in Benin City firms and was within the range of eight (8) years (2005
– 2013). A sample size of 85 was used for effective survey.
Limitations
of the Study
Total
quality management practices are difficult to achieve as a result of its
technicality. It is also, sometimes unrealistic and unattainable in many
aspects and so many organization contexts.
The research
design survey has a limitation that some respondents were unavailable to give
responses. The questionnaire research instrument has the limitation that its
structured nature may compel some respondents to provide answers that they do
not fully endorse. There were also the limitation of scarcity of materials
needed and money resources.
Definition
of Terms
Audit: The
auditing practice (APB) in the UK defined an audit as an exercise whose
objective is to enable auditors to express an opinion whether the financial
statements give a true and fair way (or equivalent) of the entity’s affairs at
the period and of its profit or loss (or income and expenditure) for the period
ended have been properly prepared in accordance with the applicable reporting
framework (for example, relevant legislation and applicable accounting
standards) or, where statutory or other specific requirements prescribed the
term “present fairly” (Odion & Lawani, 2009).
Auditing
Services: The American Accounting Association (AAA) Committee defines auditing
as a systematic process of objectively obtaining and evaluating evidence
regarding assertions about economic actions and events to ascertain the degree
of correspondence between the assertions and established criteria and
communicating the results to interested users (Odion & Lawani, 2009).
Audit Terms:
According to Coviser and Druffy (2006), audit firms are group of enterprise
that has legal power to carry out audit services for business enterprise.
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