An Appraisal Of Internal Control System In The Nigeria Banking Industry (A Case Study Of Selected Banks In Nigeria)

OSU OLUGU KALU | 128 pages (18958 words) | Projects

ABSTRACT

Internal control is an integral part of Accountancy and Auditing profession. It is also entirely an internal management affairs. Problems which led to this study of internal control system in the Nigerian Banking industry are: the frequent fraud which include collusion at times with some outsiders and breaking of safeguards provided by the separation of duties. Another problem include, the abuse of authorization controls by personnel in whose hands are entrusted the assets of the bank. This research work is aimed at establishing the effects of internal control systems in our Banking Industry; it looked at the roles of internal control systems in the Nigerian banking Industry and made relevant recommendations as a contribution to normalize the conditions of the industry, restore efficiency and effectiveness in the systems. In the review of the related literatures, work of expects in the field of Banking, Auditing, Accounting and financial management was properly reviewed. Methodology used in the data collection include both primary and secondary data. The population of this study embraced one hundred and twenty (120) staff of the three selected banks: First Bank, Union Bank and United Bank of Africa Plc Umuahia: each bank shared the population of fourty (40.) which gave grand total of 120 staff. A sample size of ninety two (92) were chosen, using Tare Yameni's formula. Ninety two questionnaires was administered to the selected banks while seventy four (74) were returned and the data analysis procedure used include sire percentage while Chi-square was used to test and analysis the formulate hypotheses. The findings of the study showed that, the effect of proper maintenance of internal control system in our Banking Industry in safeguarding the assets of banks in adherence to management policy; the impact of adequate techniques of internal control system in detecting fraud and error in banks. Then the researcher therefore recommended as fellows in part: there should be segregation of duties, so that no employee can begin a transaction from the start to the end. or proper allocation of responsibilities will help to strengthen internal control function. They should be adequate verification of the incoming staff person's background to find out i.h person's character as this w) help in reducing the incidence of frano in the industry where the rest of the recommendations are contained in chapter five.

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APA

OSU, K (2021). An Appraisal Of Internal Control System In The Nigeria Banking Industry (A Case Study Of Selected Banks In Nigeria). Mouau.afribary.org: Retrieved Nov 28, 2024, from https://repository.mouau.edu.ng/work/view/an-appraisal-of-internal-control-system-in-the-nigeria-banking-industry-a-case-study-of-selected-banks-in-nigeria-7-2

MLA 8th

KALU, OSU. "An Appraisal Of Internal Control System In The Nigeria Banking Industry (A Case Study Of Selected Banks In Nigeria)" Mouau.afribary.org. Mouau.afribary.org, 31 Aug. 2021, https://repository.mouau.edu.ng/work/view/an-appraisal-of-internal-control-system-in-the-nigeria-banking-industry-a-case-study-of-selected-banks-in-nigeria-7-2. Accessed 28 Nov. 2024.

MLA7

KALU, OSU. "An Appraisal Of Internal Control System In The Nigeria Banking Industry (A Case Study Of Selected Banks In Nigeria)". Mouau.afribary.org, Mouau.afribary.org, 31 Aug. 2021. Web. 28 Nov. 2024. < https://repository.mouau.edu.ng/work/view/an-appraisal-of-internal-control-system-in-the-nigeria-banking-industry-a-case-study-of-selected-banks-in-nigeria-7-2 >.

Chicago

KALU, OSU. "An Appraisal Of Internal Control System In The Nigeria Banking Industry (A Case Study Of Selected Banks In Nigeria)" Mouau.afribary.org (2021). Accessed 28 Nov. 2024. https://repository.mouau.edu.ng/work/view/an-appraisal-of-internal-control-system-in-the-nigeria-banking-industry-a-case-study-of-selected-banks-in-nigeria-7-2

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