Effect of Audit on the Financial Health of Cooperative Societies in Enugu State, Nigeria

This seminar paper examined the effect audit on the financial health of cooperative societies in Enugu State, Nigeria, the specific objectives were to; ascertain the effect of internal controls on the financial health of cooperative societies, and determine the effect of data analysis on the financial health of cooperative societies. The researcher selected some cooperative societies from the area under study, the opinion of their members who were 422 in number was collected in the exercise. The data were presented by the researcher using table, frequencies and percentages. Hypotheses raised for the study were tested with Analysis of Variance (ANOVA) statistical tool. The result indicate that, there is a significant effect of internal controls on the financial health of cooperative societies, secondly, there is a significant effect of data analysis on the financial health of cooperative societies. The researcher recommends that; there should be judicious use of auditing services in the cooperative societies to expose weaknesses, and see that their financial health is maintained all the time. And measures should be put in place to see that cooperative societies audit their accounts all the time, it become a condition for some funding for the societies