TABLE
OF CONTENT
CHAPTER
ONE
1.0 INTRDUCTION
1.1 BACKGROUN
OF THE STUDY
1.2 STATEMENT
IOF THE PROBLEM\
1.3 RESAERCH
QUESTIONAIRE
1.4 OBJECTIVE
OF THE STUDY
1.5 SIGNIFICANCE
OF THE STUJDY
1.6 RESAERCH
HYPOTHESIS
1.7 SCOPE
OF THE STUDY
CHAPTER
TWO
2.0 LITERATURE REVIEW
2.1 HISTORICAL
BACKGROUJND OF THE STUDY
2.2 MEANING
OF THE INTERNAL CONTROL
2.3 THE
IMPORTANT OF THE INTERNAL CONTROL
2.4 TYPES
OF THE INTERNAL CONTROL SYSTEM
2.5 FATURES
OF THE ITERNAL CONTROL
2.6 LIMITATION
OF INTERNAL CONTROL
2.7 CONDITION
FOR INTERNAL CONTROKL
2.8 INTERNATION
ASPECT OF INTERNAL CONTROL
CHAPTER
THREE
3.0 RESEARCH
METHODOLOGY
3.1 RESEARCH
DESIGN
3.2 STUDY
OF THE POPULATION
3.3 DATA
COLLECTION INSTUMANT
3.4 SAMPLE
AND THE SAMPLING TECHNIQUES
3.5 METHDO
OF THE DATA ANALYSIS
3.6 LIMITATION
OF THE STUDY
CHAPTER
FOUR
4.0 DATA
PRESENTATION, ANALYSIS AND INTERPRETATION
4.1 PRESENTATION
OF THE DATA
4.2 ANALYSIS
OF THE DATA
4.3 TESTING
OF THE HYPOTHEIS
4.4 FINDINGS
CHAPTER
FIVE
5.0 SUMMARY,CONCLUSION AND THE RECOMMENDATION
5.1 SUMMARY
OF THE WHOLE STUDY
5.2 CONCLUSION
5.3 RECOMMENDATION
5.4 SUGGESTION
FOR THE FURTHER STUDIES
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
Internal
control can be defined as a whole system of the control financial and
otherwise, established by the management of an organization in order to carry
out the business of the enterprises orderly and the efficient manner. its main
objective is to ensure adherence to the management polices, safeguard its asset
and to make sure the record of the organization is complete and secured.
An
auditor is defined as a competent and impertial critic appointed to verify the
financial other accounting statement of the organization.
He
must certify the statement exhibit a true and fair in view of the state of the
affairs of the organization concerned.
However,
he is not concerned with the financial strength of the organization but is task
is to see the financial strenght as showed in the balance sheet is infact the actual
and the true value of the organization.
Moreover,
auditing can be defined as an independent examination of the expression of an
appointed in the financial statement of an enterprise by an appointed auditor
in pursuance of that appointment and in compliance with any relevant statutory
obligation.
The
internal control statement to be evaluated should be divided into components in order to give room
for major segment to be examined and analyzed.
1.2 STATEMENT
OF THE PROBLEM
Internal
control system, however elaborate can not by itself guarantee on the efficient administration
and the completeness and the accuracy of the record.
As
a matter of fraud by any organization will always face in number if pushed of
which the internal control system is expected to be adopted. Due to this fact
most of the
Organization
unit observe and always have auditor which could enable them to check their record
often.
Although,
having the auditor is very important to an organization, is relevant is only
when they are able to carry out their task/work effectively in order to aid us in achieving
the stated objectives and goals.
1.
Two or more dishonest person working his collusion
can override the efficiency of the best
possible control.
2.
Authorization control can be abuse by those
whom the authority is vested.
3.
Management is in a position to take control of
the set up by it.
4.
pressure exerted from the within and the
outside. this enterprises can influence the integrity and the competence of the
staff.
5.
Human error
due to the error of judgment and the interpretation misunderfunding,
carelessness or fatigue or distraction
can underline the effective of the operation of the internal control.
Most
of the problem stated alone with happen due to lack of an effective and the
efficiency internal control system,
these and many other problem have wreck many organization to split and
may have also close down.
The
liability of a business organization is when its be able to achieve the
pre-determine objectives and denied its desires either the socially or
economically.
1.3
RESEARCH
QUESTIONS
The following shall be the research question to
address
(i)
What is the extent to which internal control
can be effective in the manufacturing company?
(ii)
Whether the internal control system applied
work in the company or not.
1.4 PURPOSE/
OBJECTIVE OF THE STUDY
The
main objective of the study is to evaluate the effectiveness of the internal
control system in the manufacturing company, other specific objectives of the
study includes :
i To test
as far as the scope permit, the accuracy and the completeness of the accounting
record in the manufacturing industry.
(i)
To determine the completeness accuracy and the
validity of the company.
(ii)
To see how the company safeguard its asset by
enforcing street adherence to the management policies.
(iii)
The purpose of the research work is to
establish the effective internal control system in the organization under the
study.The necessity of such role and why more organization should be devoting
more resource towards the internal control system. This research work also aim
at investigating and examining the system of the control in the organization under the study.
(iv)
The role of the internal audit in the
attainment of the efficient and the effective internal control system is to be
studies and it will be interesting to know that this is not be more checking of
functional unit of the organization.
1.6 SIGNIFICANCE
OF THE STUDY
The
research work is very important because it examines the internal control system
of the organization and evaluate it with the overall performance of the
company. The research should be able to identity its areas of strength and the
weakness as regards the management of the company and hence its internal
control system with a view of enhancing the recommended performance of the
company.
1.7 THE
RESEARCH HYPOTHESIS
So
as to ensure an empiracally tested research the following hypothesis shall be
tested.
H0 : there is no relationship between internal
control system and the effectiveness of the operation system in the
manufacturing companies.
Hii :
there is no relationship between the
internal control system and the effectiveness of the operation system in the
manufacturing companies
1.8 SCOPE
AND LIMITATION OF THE STUDY
The
topic would have covered the whole of the manufacturing sector but due to the
fact that the entire manufacturing company are under some legislation and the
same module operand, the scope focused on some selected companies.
The
research is also restricted to the effectiveness of the internal control system
in the manufacturing sector with the specific emphasis on some selected
companies.
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