ENHANCING FINANCIAL ACCOUNTABILITY IN THE PRIVATE SECTOR
- Project Research
- 1-5 Chapters
- Quantitative
- Mean and Standard Deviation
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
The broad objective of this study is focused on enhancing financial accountability in private sector using 7up Bottling company as case study. Survey research design was adopted for the study and with the aid of convenient sampling method, the researcher selected Eighty (80) participant who are Management and Staff in 7up Bottling Company in Aba as the respondent of the study. Well structured questionnaire was issued to the 80 respondent of which total of 77 responses were retrieved and validated for the study. Data was analyzed in frequencies and tables using simple percentage, mean and standard deviation. Findings from the study revealed that there is adequate division or segregation of duties of various level of management in the organization in 7up Bottling Company. The study revealed that there step taken when inefficiency is detected in the internal control system. More so that in 7up bottling company there is a system of adequate authorization and recording to provide reasonable accounting control over assets liabilities, revenue and expenses in private organization. However that more can be done to enhance financial accountability such steps includes: Reduce tolerance of corruption through big data and analytics, Ensure accrual accounting is central to the whole PFM system to provide an accurate financial picture. The study therefore recommends that Private organizations should maintain and leverage the positive impact of the control environment and control activities to boost their operating performance. Moreso, private organizations should commit more to integrity, ethical value, competence, accountability, as well as the development of preventive and detective control activities through the engagement of technology, and standardization of policies and procedures for transaction approval, verification and reconciliation which would have a significant effect on their business performance.
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