Performance Audit Effectiveness in the Nigeria Public Sector: A Review of Literature

Abstract

Performance audit, which is also known as "value for money" audits, have become increasingly common in the public sector over the past few decades. This paper examined performance audit effectiveness in the Nigeria public sector. Specifically, the study reviewed extant literature on the subject, examined Nigeria public sector and its governance as well as the concepts of performance audit, effectiveness of performance audit and public sector. The paper adopted the library research approach, such as journal articles, text books, online publications, magazines and so on. It was observed that prior literature on the effectiveness of performance audit was done in other countries. Studies from Nigeria focused on accountability, its measures, the role of Supreme Audit Institution, performance audit and public sector budgetary efficiency, as an effective tool for fighting corruption. Also, this paper found out that effective performance audit in Nigeria public sector is bedeviled by certain factors which have made its effectiveness questionable. It therefore, concludes that audit has gone beyond the examination of expenditure and now beginning to look into the processes and procedures that influence the decision on expenditure. However, recommended that the Auditor General of the Federation should ensure that adequate and competent staffs which can help it develop the right performance audit team matrix are employed.