The paper examined budget implementation and cost auditing in the public sector. It observed that
modern trends are emerging in the areas of audit of the public sector in particular and auditing in
general. Literature review methodology was adopted and the paper identified some of the emerging
trends to include due process, budget monitoring, cost and price intelligence, cost auditing, and the
value-for-money auditing. The paper noted that these modern trends have made reasonable impact
in budget implementation and monitoring. It concluded by noting that the emerging audit trends
are essential for effective budget implementation and recommended that these new audit issues
should be backed-up with enabling laws.
