Business Failure And Accounts Profession

The Nigeria economy within the first half of this century experienced quite a lot of business failure. Business failure can be defined as the inability of a particular business enterprise to continue to function as a going concern 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 in what this study seeks after. This study is carried out at ensuring a survival dosage of business in Enugu through the use of accounting profession (Auditing) to appraise operational performance.
Some of the causes of business failure includes mismanagement, bribery and corruption, and poor remuneration etc. the brain behind the failure of business in the political under tune in the appointment and selection of key officer to management positions.
Based on the findings in this study, the following conclusion were drawn, mismanagement mode of appointment and selection of key officers, poor coordinated management device, government interference and privatization and commercialization programme.
Finally, it is recommended that business should appreciated the importance of audit as a tool of evaluating performance, appointment of Board of Directors and top management officers should be based on skill, experience and qualification and government should also institute its commercialization and privatization programme in place etc.