ABSTRACT
SMEs
play a vital role in an economy of any nation more especially the developing
ones. However, SMEs are still finding it hard to survive and compete with other
well established firms despite their contribution to an economy as a whole. As
such, an effective internal control in SMEs has the potential ofreducing
employees’ fraud leading to success of SMEs in achieving its objective and
goals, which is creation of more profits. This study examined effects of
internal control practices on performance in financial perspective of SMEs
within the county of Nigeria. A descriptive research design was adopted in the
study. Population ofthis study comprised of all SMEs. Using simple random sampling
technique a sample of 100 SMEs was randomly selected. Both primary data and
secondary data were utilized in the study, which was collected using
selfadministered questionnaires and secondary data on performance in financial
perspective of SMEs was collected from SMEs financial reports. The results
established that the control environment and risk assessment had a negative
relationship with financial performance ofsmall and medium enterprises. The
results also revealed a positive relationship between control activities and
information and communication and monitoring and financial performance
financial performance of SMEs. The study concluded that there is an inverse
relationship between financial performance of SMEs and the control environment
and risk assessment. The study also concluded that there is a direct
relationship between control activities, information and communication,
monitoring and the financial performance of SMEs. The study recommended that
SMEs should ensure there they have a good environment control, effective
assessment of risk and control activities and proper monitoring strategies.
NWACHUKWU, A (2024). Effect Of Internal Control On The Performance Of Small And Meduim Scale Enterprises (SMEs):- Nwachukwu Nmesomachi A. Mouau.afribary.org: Retrieved Oct 30, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-meduim-scale-enterprises-smes-nwachukwu-nmesomachi-a-7-2
A., NWACHUKWU. "Effect Of Internal Control On The Performance Of Small And Meduim Scale Enterprises (SMEs):- Nwachukwu Nmesomachi A" Mouau.afribary.org. Mouau.afribary.org, 07 Aug. 2024, https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-meduim-scale-enterprises-smes-nwachukwu-nmesomachi-a-7-2. Accessed 30 Oct. 2024.
A., NWACHUKWU. "Effect Of Internal Control On The Performance Of Small And Meduim Scale Enterprises (SMEs):- Nwachukwu Nmesomachi A". Mouau.afribary.org, Mouau.afribary.org, 07 Aug. 2024. Web. 30 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-meduim-scale-enterprises-smes-nwachukwu-nmesomachi-a-7-2 >.
A., NWACHUKWU. "Effect Of Internal Control On The Performance Of Small And Meduim Scale Enterprises (SMEs):- Nwachukwu Nmesomachi A" Mouau.afribary.org (2024). Accessed 30 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-internal-control-on-the-performance-of-small-and-meduim-scale-enterprises-smes-nwachukwu-nmesomachi-a-7-2