78 Pages
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10,556 Words
INTRODUCTION Background of the study: Internal control was defined by the Auditing standards and guideline as a whole system of control both financial and otherwise, established by management in order to carry on the business of on enterprise in an orderly and efficient manner, ensure adherence to management polices, safeguard the asset and secure as far as possible the completeness and accuracy of records.’’(1) In reality, internal co […]
90 Pages
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14,157 Words
INTRODUCTION 1.1 BACKGROUND OF THE STUDY Even since the inception of the first three successful indigenous banks in Nigeria, the National Bank of Nigeria established on February 11th 1933, the Agbommagbe Bank (now wema Bank Nig Plc) in 1945, The African continental Bank Plc in 1947 and others subsequently established in the country during the period from 1952 when the first banking ordinance was enacted to regulate and control the acti […]
101 Pages
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12,940 Words
1.1 INTRODUCTION The Institute of Charter Accountants defines the concept internal control system as “The whole system of control financial and otherwise established by the management in order to carry on the business of the enterprise in an orderly and efficient manner, ensure adherence to management policies, safeguard the assets and secure as fact as possible the completeness and accuracy check and internal audit” fraud is a threat […]
107 Pages
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14,209 Words
INTRODUCTION 1.1 BACKGROUND OF THE STUDY Recently effective management and accountability of financial resources vike cash in the public sector has begun to receive much emphasis primarily in response to increase in fraud and high inflations rate that devalue idle or unaccounted cash and most especially defeat of aims of establishing such emprises and extra ministerial department most government establishments are tightening their int […]
54 Pages
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6,307 Words
INTRODUCTION 1.1 BACKGROUND OF THE STUDY: Financial accounting encompass activities related to the preparation of certain reports, which is known as financial statement. These statement reports the financial position of a firm at a particular time, the firms activities and resulting profit or losses during the most recent period, and the flow of resources occurring within the firm during the same period. WALGERNBAC and Co (19) defined […]
96 Pages
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13,991 Words
INTRODUCTION Background of Study The statement on study auditing standards defined internal control as being not only internal check and internal audit but the whole system of controls, financial or otherwise, establishment by management in order to secure, as far as possible, the accuracy and reliability of the records run the business in an orderly manner and safeguard the company’s assets its objective being the prevention or early […]
80 Pages
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10,978 Words
INTRODUCTION Management has been defined as the process of combining and utilizing organization resource of managerial to accomplish organization objectives. It is also a process entailing responsibility for effective planning and regulation of operation in a enterprise in fulfillment of a given purpose or task. What then do we actually means by interference? Interference according to Websters dictionary is to take and active but unwel […]