THE IMPACT OF INTERNAL CONTROL SYSTEM IN A MANUFACTURING INDUSTRY WITH A SPECIAL REFERENCE TO COCA COLA AND ANAMMCO COMPANIES
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- NGN 5000
ABSTRACT
This research work “The Impact of Internal Control System in manufacturing Industry with reference to coca cola and ANAMCO Companies” aims at determining the strength and weakness of internal control system and exposing the areas of weakness in the operation of the system and how it effects the productivity and hence profitability of the organization. To examine the extent the internal control have gone in bringing about efficiency in the operation of manufacturing industries. To recommend approaches to proper designing installation and operation of an adequate internal control system which will improve and ensure further survival of manufacturing firms. Source of data used include both primary and secondary data. The data collected were analyzed using the chi-square test method. The findings are lack of knowledge of internal control system by the staff has affected its application in the running of the business and the weakness in internal control system of business manufacturing companies affect the projected profit of the companies. Some recommendations are audit department should be created in each company and should be made independent to be able to report deliberate errors, falsifications or improper use of record or other forms of irregularities that comes to it attention.
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