Appraisal Of Internal Control As A Tool For Cost Reduction In The Banking Industry. (A Study Of Uvuoma And Umuchukwu Microfinance Bank Umuahia):- Onwuka, Bridget A
ABSTRACT
This research
work dealt on the Appraisal of Internal Control as a tool to cost reduction in
the Bank industry (a case study of Uvuoma Micro-Finance. The main objective of
this work was to find out if banks have efficient and effective control system
which contributesdo cost reduction in the banking sector. It was noted that internal
control is essential for banking operation and efficient in both financial and
non-financial matters. Chi-square was used for the testing of the first, second
and third hypothesis which is that effective internal control system does not
reduces operation cost of banks. The second hypothesis which is that internal
auditing function does not assists management in effective control of assets
and general operation of the bank and finally the third hypothesis which is
that banking industry does not have effective internal control system. The
result of the analysis of the first hypothesis revealed that effective internal
control system reduces operation cost of banks. The result of the second
hypothesis shows that internal auditing function assists management to achieve
effective control of assets and general operation in the bank. The last result
reveals that there is effective internal control in the system. It was observed
that it is improper to allow a single person to safeguard the firm’s assets. The
recommendation was that Micro-Finance management should take note of audit care
for the firar.cial stresses of their employees and assist them as much as
possible. This will help workers (bankers) not to engage in sharp practices.
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BRIDGET, A (2024). Appraisal Of Internal Control As A Tool For Cost Reduction In The Banking Industry. (A Study Of Uvuoma And Umuchukwu Microfinance Bank Umuahia):- Onwuka, Bridget A. Mouau.afribary.org: Retrieved Nov 23, 2024, from https://repository.mouau.edu.ng/work/view/appraisal-of-internal-control-as-a-tool-for-cost-reduction-in-the-banking-industry-a-study-of-uvuoma-and-umuchukwu-microfinance-bank-umuahia-onwuka-bridget-a-7-2
A., BRIDGET. "Appraisal Of Internal Control As A Tool For Cost Reduction In The Banking Industry. (A Study Of Uvuoma And Umuchukwu Microfinance Bank Umuahia):- Onwuka, Bridget A" Mouau.afribary.org. Mouau.afribary.org, 30 Aug. 2024, https://repository.mouau.edu.ng/work/view/appraisal-of-internal-control-as-a-tool-for-cost-reduction-in-the-banking-industry-a-study-of-uvuoma-and-umuchukwu-microfinance-bank-umuahia-onwuka-bridget-a-7-2. Accessed 23 Nov. 2024.
A., BRIDGET. "Appraisal Of Internal Control As A Tool For Cost Reduction In The Banking Industry. (A Study Of Uvuoma And Umuchukwu Microfinance Bank Umuahia):- Onwuka, Bridget A". Mouau.afribary.org, Mouau.afribary.org, 30 Aug. 2024. Web. 23 Nov. 2024. < https://repository.mouau.edu.ng/work/view/appraisal-of-internal-control-as-a-tool-for-cost-reduction-in-the-banking-industry-a-study-of-uvuoma-and-umuchukwu-microfinance-bank-umuahia-onwuka-bridget-a-7-2 >.
A., BRIDGET. "Appraisal Of Internal Control As A Tool For Cost Reduction In The Banking Industry. (A Study Of Uvuoma And Umuchukwu Microfinance Bank Umuahia):- Onwuka, Bridget A" Mouau.afribary.org (2024). Accessed 23 Nov. 2024. https://repository.mouau.edu.ng/work/view/appraisal-of-internal-control-as-a-tool-for-cost-reduction-in-the-banking-industry-a-study-of-uvuoma-and-umuchukwu-microfinance-bank-umuahia-onwuka-bridget-a-7-2