Table
of contents
Title
page
Certification
Dedication
Acknowledgement
Table
of contents
CHAPTER ONE: - INTRODUCTION
1.1
background of the study
1.2
statement of the problem
1.3
aim and objective of the study
1.4
research question
1.5
research Hypothesis
1.6
significant of the study
1.7
scope/definition of the study
1.8
limitation of the study
CHAPTER TWO :- LITERATURE REVIEW
2.1
introduction
2.2
Historical background of first lower Niger River basin
and rural development authority Ilorin.
2.3
Characteristic of good internal control
system
2.4
Definition of fraud
2.5
Classification of fraud
2.6
Form of fraud
2.7
Causes of fraud
2.8
Circumstances that allow fraud to be
perpetrated
2.9
Effect of fraud in an organization and
general public
2.10 How
to prevent fraud
CHAPTER THREE: - RESEARCH
METHODOLOGY
1.1
Introduction
1.2
Research design
1.3
Population of the study.
1.4
Sample and sampling technique
1.5
Method of data collection
1.6
Method of data analysis
1.7
Limitation of the methodology
CHAPTER FOUR:- DATA
PRESENTATION ANALYSIS AND INTERPRETATION
4.1
Introduction
4.2
Data presentation, analysis and
interpretation
4.3
Testing of hypothesis
4.4
Summary of the chapter
CHAPTER FIVE: - SUMMARY,
CONCLUSION AND RECOMMENDATION
5.1
Introduction
5.2
Summary
5.3
Summary of findings
5.4
Conclusion
5.5
Recommendations
5.6
Suggestion for further studies
Bibliography
Appendix.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In
any organization be it small, medium or big, it is very crucial to work towards
achieving a goal. To struggle towards the realization of this goal, one needs
to employ human, financial and material resources. The degree of achievement
largely depends on the organization’s ability to coordinate the above resources
towards achieving the stated objectives.
No
doubt, the economic recession has affected both individual and companies in
general and this has gone a long way to guide expenditure pattern and
disbursement of income, hence the need for proper planning and administration.
There is also the need to harness all available designing on appropriate and
acceptable management and accountability to the owners of the business.
The
managerial technique is known as internal control system. It is devices
introduce to ensure that managerial polices are strictly adhering to it is also
advice to safeguard assets and to secure as far as possible the accuracy and
completeness of records.
Internal
control is defined by American institute of certified public accountant is any
means for internal audit but it comprises the plans of organization and all of
the coordinate methods and means adopted within a business to safeguard its
assets, checks the accuracy and reliability of its accounting data, promote
operational efficiency and encourage adherence to prescribed.
1.2 STATEMENT OF THE PROBLEM
Fraud
practice as a result of improper talking account record in global phenomenon.
It is general believe that fraud can only be minimize but cannot be eradicated.
On the other hand, internal control comprises of all control. (Administrative,
finance and erterial) put eradication, an organization are always mead to
minimize, if not totally eradicated in government establishment.
The
extend to which certain control is performing in public or government
establishment is in question yet to be addressed with the rate of fraud in some
government.
However,
in this research attempt to addressed such question in order to bone a close
approval of their system of internal control system in the government
establishment management policies. Another school of thought sees internal
control as the plan of organization and all of the coordinated method and
measures adopted within business to safeguard its assets check the accuracy and
reliability of its accounting data promote operational efficiency and encourage
to prescribed management policies”
The
main reason for internal control is to detect and minimize on the other hand
fraud is a criminal and deceptive device employed by the use of false representation
to obtain unjust advantage either in cash or kind to the detriment of the
company.
The
system of internal control can very widely up upon the organization and
activities that are involved however, there is a common frame work of every
internal control system and these are usually in the form objective measurement
of performance against objectives , analysis and appraisal of the objective.
The
most important things is that for any organization to succeed, the most
effective internal control system is to detect and minimize fraud to its lowest
in order to achieve a statement objective of the organizations.
1.3 AIM AND OBJECTIVE OF THE STUDY
Internal
control comprises the whole system of financial control and other control
established and operated within a business including internal audit and all
other form of control. Internal control relates to the entire system of control
in an organization and it is not limited to accounting matters alone.
The
immediate objective of this study are:-
i.
To examine critically how assets of an
organization can be safeguard through internal control
ii.
To identify internal control system that
the works done by junior officers are duly checked by their superior to ensure
conformity with established standard.
iii.
To examine that the use of the
organization facilities are authorize and used for the benefit of the
organization.
iv.
To examine that funds and property of an
organization are kept in proper custody and suitable condition.
v.
To examine how all payment and receipts
are dully accounted for.
vi.
To identify internal control system that
would detect and minimize fraud in order to facilitate the attainment of
organization objectives.
1.3 RESEARCH QUESTION
1.
What does an organization stand to lose
if it internal control system are ineffective?
2.
Can effective internal control actually increase
the level of profitability and accountability by an enterprise?
3.
What are the impacts that internal
control system has in an organization?
4.
If the internal control system is weak,
is the management being noted about such weaknesses?
1.4 RESEARCH HYPOTHESIS
The
researcher have formulated hypothesis as a guide to adhere to the main purpose
of the study.
Ho:-
An effective internal control system does not prevent
or
reduce irregularities in government establishment.
HI:-an
effective internal control system prevent or
reduces
irregularities in government establishment.
Ho:-
The cooperation of all members of staff is not
necessary
for the smooth operation of an internal control system.
HI:-
The cooperation of all members of staff is necessary
for
the smooth operation of an internal control system.
Ho:-
Internal control is more or less paper works hence
errors
and fraud continue to re-occur.
HI:-
Internal control is more or less paper work, it does
not
allow errors and fraud continue to re-occur.
1.5
Significance of the study
The
significance of the study is to enable the responsible officers or manager
handle the rime of counterfeiting financing documents and stealing materials
and money in order to minimize fraud to its lowest rate so as to achieve the
organization objective this is wealth maximization. Also to make management
sees the need to make use of effective internal control system in order to map
the strategy to minimize fraud if not make proper record keeping part of its
life.
Na
organization with an ineffective internal control system will no doubt suffer a
great loss and this adversity affects its progress. Therefore, it is this
context that the researcher wishes to analyze and emphasis the need of internal
control on suggests ways by which effective control could be established in an
organization.
1.6 SCOPE / DELIMINATION OF THE STUDY
It
is not possible to look into the system of internal control of all government
establishments due to limitation in times, the project will be limited to the
internal control development authority ilorin. The objectives ad relevance of
internal control system will be covered by the study.
Furthermore,
out of the techniques that can be use in evaluating the system of internal
control this research is limited to internal control questionable.
The
data gathered from the internal control department of the case study as well as
the result and conclusion is expected to bear relevance to all companies with
internal control.
1.7 LIMITATION OF THE STUDY
The
research works will cover the use of internal control in organization taking government
parastatal (lower Niger
River Basin and Rural Development
Authority) as a case study. It will also cover the implementation of internal
control in the authority and the suggested to the weakness of the control if
any.
This
will not go beyond aforementioned above, due to some custards stated below:-
i.
Inadequate information together with
necessary data for the basis of the internal control system.
ii.
Lack of enough textbooks in the library
iii.
Lack of financial aid for the proper
analysis of the research work such as the use of questionnaire.
Login To Comment