ABSTRACT
The research study was the impact of
internal control measures on corporate efficiency, a case study of some Selected
organizations in Aba. The study is aimed at ascertaining the relevance of
internal control system in determining corporate efficiency. Also the study was
carried out to determine the importance of good internal control system in
aiding auditors work and enhancement of the reliability of financial reports to
the firm's stakeholders. Finally it was to determine the contribution of
internal control system in safeguarding and controlling organizational assets.
To achieve this, a total of one hundred questionnaires were administered to
mangers (40) and Accountants and customers (60) of PZ Cussons Nig. PLC,
Nigerian Breweries PLC, First bank Nig. PLC, United bank for Africa (UBA) and
Tonimas Nig. Ltd. The questionnaires were distributed on the basis of their
technical competence, ability and experience on the subject matter. Out of the
one hundred questionnaires distributed, only thirty (30) questionnaires were
duly returned. This represented 30% response. This primary data were analyzed
using simple percentage and the (x-) statistical tool test at 5% significant
level and I degree of freedom (3811- ) on th hypotheses formulated. Following
the analysis of these data and the test of the hypothesis, the findings were:
The application of good internal control system will aid in the detection and
control of fraud and thus will enhance the firm's corporate efficiency. The
application of internal control system will contribute to safeguarding and
controlling the organizational assets. The use of good internal control system
will enhance the auditor's work and the preparation and presentation of
accurate and reliable financial statement of the organization for the
stakeholders. Arising from the result obtained, the researcher recommends the
following: A periodic review of the system of internal control so as to update
the system with new techniques as well as to strengthen existing controls. The
establishment of separate and independent Internal control units to detect and
control frauds. Training of all categories ofr employees of the organizations
to embrace the application of internal controls measures.
OKORIE, N (2021). Impact Of Internal Control Measures On Corporate Efficiency . Mouau.afribary.org: Retrieved Nov 27, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-internal-control-measures-on-corporate-efficiency-7-2
NNENNA, OKORIE. "Impact Of Internal Control Measures On Corporate Efficiency " Mouau.afribary.org. Mouau.afribary.org, 04 Aug. 2021, https://repository.mouau.edu.ng/work/view/impact-of-internal-control-measures-on-corporate-efficiency-7-2. Accessed 27 Nov. 2024.
NNENNA, OKORIE. "Impact Of Internal Control Measures On Corporate Efficiency ". Mouau.afribary.org, Mouau.afribary.org, 04 Aug. 2021. Web. 27 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-internal-control-measures-on-corporate-efficiency-7-2 >.
NNENNA, OKORIE. "Impact Of Internal Control Measures On Corporate Efficiency " Mouau.afribary.org (2021). Accessed 27 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-internal-control-measures-on-corporate-efficiency-7-2