THE EFFECTIVENESS OF INTERNAL CONTROL SYSTEM AND IT’S IMPACT ON THE ACTIVITIES OF PRIVATE LIMITED COMPANIES
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
The focus of this study is to examine the effectiveness of internal control system and it’s impact on the activities of private limited companies using Phinorma Nig Ltd Ngwo in Enugu State as case study.
The study adopted a survey research design and with the aid of convenient sampling techniques, thirty-six (36) participants who are staff Phinorma Nig Ltd Ngwo in Enugu State was enrolled for the study. A well structured questionnaire was issued to the respondent of which a total of Thirty (30) responses were received and validated for the study. Data was analyzed using simple percentage as well as frequencies and table. From the findings, the study established that the major control procedures such as vouching of all payments, segregation of duties, close supervision, authorization of payments by approving personnel, to mention but a few are in existence at the company. The study also revealed that controls are effective such as monthly bank reconciliations and they are often reviewed usually monthly in the entire organization as revealed by most employees. The researcher therefore concludes that there is a significantly positive relationship between internal control systems and organizational performance.
The study therefore recommends that Management should always practice proper recording of transactions and each and every other transaction should always be recorded and kept for references. More So, Management of Phinorma Nig Ltd should improve on some internal control systems such as documentation of transactions that can best suit the organization’s operations.
Related Project Materials
THE INFLUENCE OF ADVERTISEMENT ON CONSUMER BEHAVIOUR
BACKGROUND OF THE STUDY
All over the world people and companies utilize advertising to good advantages...
AN ANALYSIS OF SCHOOL MANAGEMENT PROBLEMS AND STUDENTS' ACADEMIC PERFORMANCE IN SECONDARY SCHOOLS
BACKGROUND OF STUDY
The capacity of the principal to favorably influence teachers, students, and other...
SYNTHESIS AND CHARACTERIZATIONS OF ZnO AND ZnO/CNT NANOCOMPOSITES FOR APPLICATION IN SOLAR CELL
ABSTRACT
Low power conversion efficiency resulting from recombination of photogenerated charges in TiO2 based photovoltaic devices has ca...
PRIMARY HEALTH CARE SERVICES IN NIGERIA: CRITICAL ISSUES AND STRATEGIES FOR ENHANCING THE USE BY THE RURAL COMMUNITIES
ABSTRACT
Quality health is a fundamental right of all Nigerian citizens. While primary health care (PHC) centers are rel...
AGRICULTURAL DEVELOPMENT PROGRAMMES AND ITS IMPACT ON THE NIGERIA ECONOMY
Background of the Study
Agriculture is the foundation and bedrock upon which the development of stable...
PROBLEMS OF TEACHING CHEMISTRY IN NIGERIA SECONDARY SCHOOLS (A CASE STUDY OF EGOR LOCAL GOVERNMENT AREA IN BENIN)
Background Of The Study
The attitude towards Chemistry in secondary schools in Nigeria is poor as a re...
IMPROVING TAX AUDIT AND INVESTIGATION IN NIGERIA
ABSTRACT
The study focused on improving tax audit and investigation using Federal Inland Revenue Service (...
THE IMPACT OF SOCIAL DISTANCING AND FREQUENT HAND WASHING IN REDUCING THE SPREAD OF CORONA VIRUS (COVID 19) IN NIGERIA (A CASE STUDY OF LAGOS STATE)
ABSTRACT
This study focus on the impact of social distancing and frequent hand washing in reducing the spread of corona...
THE IMPACT OF MINIMUM WAGE FLUCTUATION ON GROWTH OF NIGERIAN ECONOMY
ABSTRACT
This research work investigates the impact of minimum wage fluctuation on growth of Nigeria economy. Determinants of labour mark...
BACTERIA ASSOCIATED WITH URINARY TRACT INFECTION IN PREGNANT WOMEN AND THEIR ANTIBIOTIC SUSCEPTIBILITY.
ABSTRACT
Urine Sample from pregnant women were analysed for bacteriuria. The result of irinalysis reveals th...
