Effect Of Internal Control On The Performance Of Small And Medium Scale Enterprises (A Study Of Umuahia Metropolis, Abia State)
ABSTRACT
The study focused on the evaluation and determination of the effect of internal
control on the performance of small and medium scale enterprises in Umuahia
metropolis. Specflcally, the study aimed at investigating, the use of internal control
techniques in uncovering fraud, reducing excessive cost ofproduction and enhance
security of physical assets in small and medium scale enterprises in Nigeria. The
research adopted the survey design using simple Regression Analysis. The study
revealed that; Internal control has signfIcant effect on uncovering offraudulent
activities, reduction ofexcessive cost ofproduction and on security ofphysical assets
in small and medium scale enterprises in Nigeria. Based on the findings and
conclusions made in the study, the researcher recommends that; internal control
system should be established in all small and medium scale enterprises in order to
prevent the incidence of fraud and anomalies in the enterprise; the government
should provide good credit facilities, such as issuance of loans to small and medium
enterprise in other to enhance business growth and expansion and at a minimal
interest pay back rate as this enable small and medium scale businesses to hire the
services of professional accountants who design and install an effective internal
control system for those firms.
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NWATU, N (2021). Effect Of Internal Control On The Performance Of Small And Medium Scale Enterprises (A Study Of Umuahia Metropolis, Abia State). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-medium-scale-enterprises-a-study-of-umuahia-metropolis-abia-state-7-2
NNENNA, NWATU. "Effect Of Internal Control On The Performance Of Small And Medium Scale Enterprises (A Study Of Umuahia Metropolis, Abia State)" Mouau.afribary.org. Mouau.afribary.org, 09 Jun. 2021, https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-medium-scale-enterprises-a-study-of-umuahia-metropolis-abia-state-7-2. Accessed 31 Oct. 2024.
NNENNA, NWATU. "Effect Of Internal Control On The Performance Of Small And Medium Scale Enterprises (A Study Of Umuahia Metropolis, Abia State)". Mouau.afribary.org, Mouau.afribary.org, 09 Jun. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-medium-scale-enterprises-a-study-of-umuahia-metropolis-abia-state-7-2 >.
NNENNA, NWATU. "Effect Of Internal Control On The Performance Of Small And Medium Scale Enterprises (A Study Of Umuahia Metropolis, Abia State)" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-medium-scale-enterprises-a-study-of-umuahia-metropolis-abia-state-7-2