THE IMPACT OF INTERNAL CONTROL ON THE PERFORMANCES OF ORGANIZATIONS, A CASE STUDY OF FIRST BANK NIGERIA PLC

3,000.00

RESEARCH INFORMATION

✎: THE IMPACT OF INTERNAL CONTROL ON THE PERFORMANCES OF ORGANIZATIONS, A CASE STUDY OF FIRST BANK NIGERIA PLC

❐: Chapter 1 – 5
♣:₦3, 000
❑: Ms Word format

: GET COMPLETE PROJECT MATERIAL

This study, “THE IMPACT OF INTERNAL CONTROL ON THE PERFORMANCES OF ORGANIZATIONS, A CASE STUDY OF FIRST BANK NIGERIA PLC” contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References.

Keywords: THE IMPACT OF INTERNAL CONTROL ON THE PERFORMANCES OF ORGANIZATIONS, A CASE STUDY OF FIRST BANK NIGERIA PLC

 

RESEARCH BODY

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

1.2     STATEMENT OF THE PROBLEM

1.3     OBJECTIVES OF THE STUDY

1.4     RESEARCH QUESTIONS

1.5     RESEARCH HYPOTHESIS

1.6     SIGNIFICANCE OF THE STUDY

1.7     SCOPE OF THE STUDY

1.8     LIMITATION OF THE STUDY

1.9     DEFINITION OF TERMS

CHAPTER TWO

LITERATURE REVIEW

2.1     DEFINITION OF INTERNAL CONTROL SYSTEM

2.2     IMPACT OF INTERNAL CONTROL ON FINANCIAL INSTITUTION

2.3     TYPES OF INTERNAL CONTROL SYSTEM

2.4     EFFECTIVENESS OF INTERNAL CONTROL SYSTEM

2.5     CHALLENGES/LIMITATIONS OF INTERNAL CONTROL SYSTEM

CHAPTER THREE

RESEARCH METHODOLOGY

3.1     INTRODUCTION

3.2     RESEARCH DESIGN

3.3     STUDY POPULATION

3.4     SAMPLE AND SAMPLING TECHNIQUE

3.5     DATA FOR THE STUDY: INSTRUMENTATION

3.5.1  INSTRUMENTATION

3.5.2  VALIDITY OF INSTRUMENT

3.6     METHOD OF DATA ANALYSIS

CHAPTER FOUR

4.0              DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1     INTRODUCTION

4.2     DATA ANALYSIS (QUESTIONNAIRE)

CHAPTER FIVE

SUMMARY CONCLUSION AND RECOMMENDATIONS

5.1     SUMMARY OF FINDINGS

5.2     CONCLUSION

5.3     RECOMMENDATION

REFERENCES

QUESTIONNAIRE

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY  

Internal control is ―the whole system of controls, financial and otherwise, established in order to provide reasonable assurance of effective and efficient operation, internal financial control and compliance with laws and regulations‖ (CIMA, 2006). The internal control process is integrated with all other processes within an organization and is a technique used by managers to help an organization achieve its objectives. (Internal Audit files. Internal control overview August 2007)

The survival of any organization depends on the effective and efficient utilization of resources (financial and non-financial) at the disposal of the organization. Hence, to optimize the utilization of resources entrusted to all employees in an organization, various form of control are put in place by management of the organization, among these major controls are internal control and internal audit to mention a few. According to Kirsch,(2002)Internal control can be defined as a set of mechanism designed to motivate an individual or a group towards achievement of a desired objectives while, Ouchi (1979) stated that internal control must be able to achieve the objective of bringing about cooperation among people with divergent objectives in an organization. Similarly, International Standard on Auditing (ISA 400) defines internal control as all policies and procedure adopted by the management of an entity to assist in achieving the primary objectives of the management by make sure the business is conducted in the most possible efficient way and also ensuring strict adherence to management policies, safeguarding of asset, prevention and detection of fraud and timely preparation of reliable account. On the other hand, Financial Performance of an organization can be described in various form, such as; return on assets, return on sales, return on equity, return on investment, return on capital employed and sales growth (Gerrit&Abdolmohammadi, 2010). It is also a measure of the excess value a company has provided to its shareholders over the total amount of their investments.

Financial institutions have seen significant change in their mode of operations over the years. They are becoming complex over time, mechanically determined, and worldwide in outlook. In the meantime, stakeholders are more drawn in, looking for greater transparency and responsibility for the integrity of internal control frameworks that bolster business decisions and the administration of the organization.

Most of these institutions have in place control policies to aid the smooth flow of operations. These controls affect financial activity and ensure that the desired return on investment occurs. A system of viable internal control is a basic component in any financial organization.

In line with this the Bank of international settlement (Basel committee) on banking supervision in1998 designed a framework of principles for the effective supervision of internal control systems in financial institutions. The Committee emphasized that sound internal control was essential to prudent banking operations and to promoting stability in the financial system as a whole. It stated that heightened interest in internal controls was as a result of significant losses incurred in many finance houses which could have been avoided if the organizations had maintained effective internal control systems.

Performance of cooperatives can be determined using operating profit as an indicator (Nurjihan and Mahir, 2011). In order to survive like any other businesses, cooperatives need to generate profit to fulfill their social objective to maximize the benefits and increase standards of living of their members. A proportion of the cooperatives profits will be allocated usually to provide benefits and returns to the members. Therefore, this study focuses on the impact of internal control on the performances of organizations, a case study of First Bank Nigeria PLC.

1.2     STATEMENT OF THE PROBLEM

Despite the fact that internal control system have been in existence for many years in most organization, the problem of financial crimes, have continued to be on the increase (Nurjihan and Mahir, 2011. Examples of this financial crimes include; financial irregularities within the departments, collusion among senior or highly-trusted employees, breaches of control, to mention a few. Various researchers, have affirmed that internal control set by management in most organization has not been able to completely prevent these fraudulent occurrences because these controls have not significantly reduced the reoccurring fraud and corruption perpetuated by employees in most organizations.

Financial institutions are faced with various challenges in their core operations. This hinders the effectiveness of their performance and impedes their profit levels. These issues can be related to poor portfolio management, lack of attention to changes in the economy that can lead to deterioration in the credit ratings of the institution. However the major causes of serious banking challenges continues to be ineffective internal control system for core processes. Designing and implementing an effective system of internal control can be challenging (Kirsch, 2002). Operating that system effectively and efficiently every day can be daunting. New and rapidly changing business models, greater use and dependence on technology, increasing regulatory requirements and scrutiny demand any system of internal control to be well structured and aid operational processes. These problems make it glaring that there is a need to carry out a study on the impact of internal control on the performances of organizations, a case study of First Bank Nigeria PLC.

1.3     OBJECTIVES OF THE STUDY  

The general objective of this study is to examine the impact of internal control on the performances of organizations, a case study of First Bank Nigeria PLC. The specific objectives are:

1.     To ascertain the role of internal control on the financial strength of First Bank Nigeria PLC.

2.     To find how internal controls influence effective administration in First Bank Nigeria PLC.

3.     To examine the components of internal controls in First Bank Nigeria PLC.

4.     To investigate the influence of internal control on the productivity of employees in First Bank Nigeria PLC.

5.     To ascertain the challenges of internal controls in First Bank Nigeria PLC.

1.4     RESEARCH QUESTIONS

The relevant research questions related to this study include the following:

1.     What is the role of internal control on the financial strength of First Bank Nigeria PLC?

2.     How do internal controls influence effective administration in First Bank Nigeria PLC?

3.     What are the components of internal controls in First Bank Nigeria PLC?

4.     What is the influence of internal control on the productivity of employees in First Bank Nigeria PLC?

5.     What are the challenges of internal controls in First Bank Nigeria PLC?

1.5     RESEARCH HYPOTHESIS

H1 – there is a relationship between internal controls and the performances of organizations.

H0 – there is no relationship between internal controls and the performances of organizations.

 

Keywords: THE IMPACT OF INTERNAL CONTROL ON THE PERFORMANCES OF ORGANIZATIONS, A CASE STUDY OF FIRST BANK NIGERIA PLC

 


DO YOU WANT TO ORDER FOR THE COMPLETE PROJECT MATERIAL? Then click here

GET COMPLETE PROJECT

Have you made payment for this project? If YES, contact our Customer Care.

For further enquiries, call our Hotlines ☎: 08139342394 or 08152487601


PROJECT TOPICS AND MATERIALS | HIRE A WRITER | HOW TO PAY FOR PROJECT

 

Keywords: THE IMPACT OF INTERNAL CONTROL ON THE PERFORMANCES OF ORGANIZATIONS, A CASE STUDY OF FIRST BANK NIGERIA PLC

 


DISCLAIMER: hiWriters.com.ng focus on attracting students and researchers to materials that can be used as guide, framework, and reference for their project work. All contents/materials on this website are for research purposes only and for no reason should you copy verbatim. This platform is not encouraging any form of plagiarism, neither are we advocating the use of the project materials for cheating. We strictly recommend that research project topics and materials ordered for should serve as a guide or framework only. The contents therein should be used to generate fresh ideas for your own research. Finally, hiWriters.com.ng will not be liable for any material used inappropriately.