THE ROLE OF INTERNAL AUDITOR ON THE EFFECTIVENESS OF INTERNAL CONTROL SYSTEM
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
Abstract
The study determines and establishes the connection between internal auditing and internal control systems on financial performance in an Institution of higher learning in Nigeria. Internal controls were look at from the perception of Control background, Internal Audit and Control Activities whereas financial performance focused on Liquidity, responsibility and Reporting as the trial of financial performance and internal control. Research was conducted using both quantitative and qualitative approach using Survey, relationship and Case study as Research Designs. Data was collected using Questionnaires and Interview guide as well as appraisal of available documents and records targeting essentially Deans, Associate Deans, Heads of Departments, Management Committee members, and Finance and Accounts staff as respondents from a population of 302 Nigerian. Data was analyzed using the Statistical Package for Social Scientists where conclusions were drawn from tables, figures from the enclose. The study establish that management of the institution is dedicated to the control systems, energetically participates in monitoring and supervision of the activities of the University, all the activities of the Institution’s activities are initiated by the top level management, that the internal audit department is not efficient, is understaffed, doesn’t conduct regular audit activities and does not produce regular audit reports although the few reports produced by the internal audit department address weaknesses in the system. It was however, revealed that all revenues and expenditures are properly classified, and that assets of the University have generally increased. The study established a significant relationship between internal control system and financial performance. The investigation recommends competence profiling in the Internal Audit department which should be based on what the University expects the internal audit to do and what appropriate number staff would be required to do this job. It also recommends that the institution establishes and manages knowledge/information management system to enable all parties within the institution to freely access and utilize the official information. There should be a strategy improve the generation of additional finances for the University. The Study therefore concludes that internal control systems do function although with there is a significant relationship between internal control systems and financial performance in an Institution of higher learning.
Related Project Materials
PARTY SYSTEM AND NIGERIA POLITICAL DEVELOPMENT
ABSTRACT
In summary, this research work which was based on the topic: party system and Nigeria political development&nbs...
DETERMINING THE SERUM PROTEIN LEVELS AND CIC LEVEL IN CEREBRAL MALARIA PATIENTS
OBJECTIVES OF THIS STUDY
This study is aimed at:
- Determining the serum protein levels and CIC level i...
Read more
THE IMPACT OF EFFECTIVE PLANNING AND CONTROL ON THE PURCHASING ACTIVITIES OF A MANUFACTURING COMPANY (CABUARY LTD AS A CASE STUDY)
ABSTRACT
A company will have stated objectives, but the individual manager must interpret what company officials actually say and do. For...
Read moreSOCIAL MEDIA ADVERTISING AND ITS INFLUENCE ON AUDIENCE PREFERENCE OF SIMILAR PRODUCT
ABSTRACT
This study was carried out to examine social media advertising and its influence on audience preference of simi...
Read moreAPPRAISAL OF THE CONTRIBUTIONS OF MODERN COMMUNICATION EQUIPMENT TO JOB PERFORMANCE OF SECRETARIES IN SELECTED BUSINESS ORGANIZATIONS
ABSTRACT
The rapid growth in information technology and the recognition of the modern world gave rise to the introductio...
Read moreTHE ROLE OF INFORMATION SYSTEMS IN SUPPLY CHAIN MANAGEMENT
THE ROLE OF INFORMATION SYSTEMS IN SUPPLY CHAIN MANAGEMENT
Abstract: This study aimed to explore...
Read moreDESIGN OF A COMPUTER ASSISTED MULTIPLE CHOICE EXAMINATION SYSTEM (A CASE STUDY OF COMPUTER SCIENCE DEPARTMENT FEDPONEK OWERRI)
ABSTRACT
With the thoughtful application of emerging technologies and in a bid to improve on the effort tow...
Read moreATTITUDE OF TEACHERS TOWARDS TEACHING IN RURAL AREA
Abstract
This study investigates the attitude of teachers towards teaching in rural areas in Nigeria using Brass Local G...
Read moreOPTIMIZATION OF BIODIESEL PRODUCTION FROM YELLOW OLEANDER AND CASTOR OILS AND STUDIES OF THEIR FUEL PROPERTIES
Abstract
The optimization of biodiesel production from two non-edible oils and studies of their fuel an...
Read moreDESIGN AND IMPLEMENTATION OF A WEB BASED SIM REGISTRATION SYSTEM FOR MTN NIGERIA
BACKGROUND OF THE STUDY
In line with directives from the Nigeria Communication Commission (NCC) and as part of efforts &...
Read more
