APPLICATION OF AN ASSESSMENT OF EFFECTIVE INTERNAL CONTROL AND AUDIT IN PUBLIC SECTOR

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

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CHAPTER ONE

1.0     INTRODUCTION

Auditing is an independent checking, investigation, examination and expression of the books of accounts and vouchers of a business enterprise with a view to enable the appointed auditor to report whether the trading, prodit and loss accounts and balance sheet are properly drawn up so as to show a true and fair view of the state of affairs and the profit or loss of the business according to the best information and explanation obtained by the auditor and that they comply with the laid down rules and regulations of the statement of standard acccounting product (SSAP) and other statutory regulations.

Internal control system: This can be described acording to auditing guideline (AG 204) as “the whole system of controls, financial and otherwise, established by the management in order to carry on the business enterprise in an orderly and efficient manner, ensure adherence of maangement policies, safeguard its assets and secure as this as possible the completeness and acccuracy of records” therefore this involves both internal check and audit.

Internal Check: This briefly refers to the method (techniques) of organizing and arraning the entire operation of office, factory and enhousing and the duties of respective staff so that risk of fraud, errors, irregularities and mismanagment will almost be impossible without conclusion. That is day-to-day transactions, segregation of duties and job performance in an organization.

Internal Audit: This is refers to an independent appraisal of activities within the organization of the check of certain operations as a service to the maangement, therefore, it is the maangement control to functions by the means of evaluating and measuring the  efficiency and effectiveness of other controls or checks. Meanwhile, the internal audit will ensure that some specific routine work are carrryout by the departments and that the laid down procedures  is adequately carry-out by all applicable areas as well as making recommendations to the management.

 

1.1     BACKGROUND OF THE STUDY

Auditing in its daily and primitive stage can in an existence since 16^th Century, start when the first relationship began between those who provided capital and those who managed the business.

Moreover, the innovation of joint stock companies has enormously widened the possiility of raising capital for industry. As a result of the limited liability of the shareholders, it become possible to offer shares for subcription to the public and thus, the availability of capital to both industry and commence. “Stewardship”

 

Meanwhile, under the company from of business enterprises, the shareholders as a person, delegate the management of the enterprise to the board of directors and practically, the board submits to the shareholders the account of the enterprise so that its members may see a trur and fair view of the financial position and the profit and loss undertaking. Thus, in 19^th century, the greatly arose  aneed by the shareholders as a body to appoint an auditor that will help in the presentation of statutory financial statement of the board of directors in order to show true and fair view of the financial position of the company.

 

However, in 20^th century, mandatory provision as requirement made for the audit to limited liability accounts and presentation of audit report to numbers by the company acts in Nigeria have company or companies and Allied Matters Act (CAMA) 1990.

 

1.2     STATEMENT OF THE PROBLEM

This study is basically concerned with discussing and appraising an assessment of effective internal audit and control in the public sector. And also how to answers some related questions like;

• How has the effective internal  audit and control affected the public sector over some years?

How Does the effective

ASSESSMENT  OF ACCOUNTING INFORMATION IN MANAGEMENT PLANNING AND DECISION MAKING                (A CASE STUDY OF ZAKI FLOUR MILLS)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
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ABSTRACT

The aim of the project is accounting information as a tool for management decision. The work covers various process of account information (management Account, financial account, standard for accounting information). This project will also consider possible ways of using accounting information as a tool for management decision. This project will afford the opportunity of identifying the major importance of accounting information in management for a proper decision making. Also the provided account information allows easy planning and control purpose. Lastly, the project topic assists the information conclusion drawn on he problem and the necessary ways of solving it properly to ensure a perfect management operation.

CHAPTER ONE

1.0    Introduction        –       –       –       –       –       –       –       1

1.1    Background of the study       –       –       –       –       –       3

1.2    Statement of the problems    –       –       –       –       –       4

1.3    Objective of the study  –       –       –       –       –       –       6

1.4    Research of hypothesis –       –       –       –       –       –       6

1.5    Significance of the study       –       –       –       –       –       7

1.6    Scope of the study       –       –       –       –       –       –       8

1.7    Historical background of the case study-  –       –       –       8

1.8    Definition of the terms  –       –       –       –       –       –       10

 

CHAPTER TWO: Literature Review

1. 2. Introduction-      –       –       –       –       –       –       –           13

 

1. Financial accounting     –       –       –       –       –       –           14

2.2    Management accounting       –       –       –       –       –           15

2.3    Users of accounting information     –       –       –       –           17

2.4    Standard for accounting information       –       –       –           20

2.5    The need for accounting information       –       –       –           22

2.6    Presentation of information   –       –       –       –       –           26

2.7    Over view of external financial statement-        –       –           27

2.8    Cost calculation   –       –       –       –       –       –       –           33

2.9    Ratio and percentage analysis        –       –       –       –           35

2.10  Break Even analysis      –       –       –       –       –       –           37

2.11  Financial Decision         –       –       –       –       –       –           37

CHAPTER THREE

1. 3. Introduction        –       –       –       –       –       –       –           40

 

1. 1. Research design  –       –       –       –       –       –       –           41

 

1. 1. Population of study-     –       –       –       –       –       –           42

 

1. 1. Sample  of the study    –       –       –       –       –       –           42

 

1. 1. Sampling techniques-   –       –       –       –       –       –           43

 

1. 1. Method of data collection      –       –       –       –       –       43

 

1. Method of data analysis        –       –       –       –       –       47

CHAPTER FOUR:  Data Presentation, Analysis and interpretation

1. 4. Introduction        –       –       –       –       –       –       –       48

 

1. 1. Interview with the finance department    –       –       –       49

 

1. 1. Interview question with the management         –       –       51

 

1. Test of hypothesis        –       –       –       –       –       –       53

CHAPTER FIVE: Summary, Conclusions and Recommendations

1. 5. Introduction        –       –       –       –       –       –       –       64

 

1. 1. Summary    –       –       –       –       –       –       –       –       64

 

1. 1. Conclusion –       –       –       –       –       –       –       –       67

 

1. 1. Limitation of the study  –       –       –       –       –       –       68

 

1. Recommendations        –       –       –       –       –       –       69

Bibliography-       –       –       –       –       –       –       –       71

Appendix    A-     –       –       –       –       –       –       –       72

Appendix    B-     –       –       –       –       –       –       –       73

 

 

 

 

CHAPTER ONE

1.0     INTRODUCTION

An organization needs qualitative information to function or make decision; the available of such information make the organization to function in the most effective and efficient manner. This information is provided by the accounting system to the management, which uses it primarily to accomplish three (3) broad purposes, viz:

1. To provide financial statement to interested external users
2. To plan the operations of the organization in both the short and long run.
3. To control the result of its operations

In financial accounting, the responsibilities of the accountant ranges from recording and analysis, summarizing and reporting the result of the activities of the organization to creditors, stock holders and prospective investors, government, labour, environmental organization and others. In the case of reports to external users, they are classified for general purpose; they are financial statement, the income statement, the retained earnings, the balance sheet and the statement of financial position. People who protest or enhance their investment in the organization as by other who have a special interest in it use this statement. In management accounting, accountants provide information for use by office within the organization (the managers) rather than for use by other outside the organistion, such information are mainly decision making concerning the internal function organization. Management accounting also provides information to the decision makes for the following purpose:

1. Formulation of policies
2. Planning and controlling the activities of the enterprises
3. Safeguard the assets of the organization
4. Disclosure of employee’s area of specialization
5. Decision taken alternative cause by action.

Management and financial accounting may be understood by considering the basic goals of financial accounting is to direct forms of operations to maximize income the period measure net income used by the management in making decision to avoid what may be considered as an unwise decision to external user or vice versa. However, the relevance accounting information effective decision making in this research work, the degree of the relationship shall be clearly spelt out and identified.

 

1. BACKGROUND OF THE STUDY

The choice of the topic “Accounting information as a tool for management decision making” has been motivated by the fact that whatever accounting on information is presented to the has been collected, classified and analysis will determine the extent to which it is to be relied upon by the management in order to formulate a favourable decision in the organization.

The project therefore examines the relevance of accounting information to managerial decision making manufacturing companies with a view to highlighting the area of weakness and making necessary recommendations.

It is infact in the light of the above that attempt be made to apprais the essence of accounting information in making decision concerning he use of limited resources, including the identification of the overall organization objectives.

1. STATEMENT OF PROBLEMS

Management who thinks that they operate successfully without the use of the information provided by the accountings and up being economic failure to their respective industries, and some times course embarrassment to the organization. Take for instance, the accountant of an organization provide his manager with the information that there is no fund for any programme execution in the company. Despite this information, the manager went ahead an instructed the accountant to draw a cheque payable to a contractor who supplied some materials to the

CAUSES AND EFFECT OF INEFFECTIVE COMMUNICATION IN THE BANKING INDUSTRY

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

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CHAPTER ONE

INTRODUCTION

1.1    Background of the Study

Banking Industries (organizations) cannot operate without communication. Communication is the life source of every industry, because industries involve people. People cannot interact with each other without communication. In the absence of communication, everything would grind to a halt.

According to James et’al (2009), communication is a means by which a thought is transferred from one person to another. It is also the process by which the person (group) share and impact information to another or group clearly understand by one person and another.

Velenguela (2002), opines communication as any act by which one person gives to or receives from another person’s information about that person’s needs, desire, perceptions, knowledge or effective states. Communication may be intentional or unintentional, may involve conventional or unconventional signals, may take linguistic or non-linguistic forms and may occur through spoken or other modes.

Wikipedia (2009) defines communication as a process of transferring information from one entity to another. Communication processes are sign mediated interactions between at least two agents which share a repertoire of signs and semiotic rules “Communication is commonly defined as the imparting or interchange of thoughts”, opinions, or information by speech, writing or signs”. Communication can be perceived as a two-way process in which there is an exchange and progression of thoughts, feelings or ideas towards a mutually accepted goal or direction.

He further explains communication as a process by which information is enclosed in a package and is distracted and imported by the sender to a receiver via a channel/medium. The receiver then decodes the message and gives the sender a feedback. Communication requires that all parties have an area of communication community.

According to Webster (2009), defines communication as an act or instance of transmitting information assign and convey meaning in an attempt to create and share understanding. This process requires a vast repertoire of skills in interpersonal processing, listening, observing, speaking, questioning, analyzing and cooperation occur.

Communication can take various forms, but all forms involve the transfer of information from one party to the other. In order for the transfer of information to be qualify as a communication, the recipient must understand the meaning of the information transferred. If the recipient does not understand the meaning of the information conveyed, communication has not taken place.

Workers in the Banking industry would not know the industry objectives, so they would not strive to achieve the industry objectives and also would not know what their roles and responsibility are; so they will not be able to carryout their jobs and would not be able to inform workers of changes. The industry would not be aware of the competitors’ activities and a lot of other things without communication.

Communication is one of the basic functions of management in any banking industry and its importance can hardly be overemphasized. It is a process of transmitting, information, ideas, thought, opinions and plans between various parts of the industry.

It is not possible to have human relation without communication. However, good and effective communication is required not only for good and successful business.

Effective Communication is required at various levels and for various aspects in the industry such as manager employee relations. Effective communication is of information and decision i.e. an essential component for management employees unless they are communicated effectively of what he wants to be done, he should also be sure of some basic facts such as how to communicate and what results can be expected from that communication. Most of management problems arise because of lack of effective communication. Chances of misunderstanding and misrepresentation can be minimized with proper communication system.

Ineffective communication can be caused by incomplete messages, individual difference. As human beings, each person is uniquely different from any other person. Therefore, people may interpret want differently, perceive realities differently, have variable opinions, attitudes and emotions towards people, things and events differently they may have different developmental experiences, intelligence, cultural and political beliefs, all of which may tend to affect the way they conceive or perceive a message.

An Industry: Is a group of productive organizations that produce or supply goods, service or sources of income.

Wikipedia (2009), sees industry from so many aspect such as:

–         Industry as a commercial production and sale of goods

–         As a specific branch of manufacture and trade.

The Banking Industry

Answer bag (2009) sees banking industry as a sector of an economy used to cover any form of economic activity, such as “Banking industry”

CHALLENGES OF INTERNAL AUDIT

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO

08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.

WE HAVE SECURITY IN OUR BUSINESS.   

MONEY BACK GUARANTEE

 

CHAPTER ONE

1.0    INTRODUCTION

1.1    BRIEF OVERVIEW OF THE SUBJECT OF STUDY

It is generally agreed that finance is the main stay of any economy, be it public or private sector. It is equally true that no meaningful development could be achieved without finance and proper management, as a result of this, many organizations establishes difference systems of control or ensure smooth running of their business of which internal auditing is an integral part.

Basically, internal auditing ensures that all activities of the organization are carried out by employees according to laid down procedures.

The introduction of new technologies e.g. the  invention of computerized audit system which posed challenges to the internal audit staff and their work, the update of their knowledge to meet with these challenges in the face of manipulation of these to perpetrate fraud is desirable. Moreso, the requirement of new auditing standards will make the staff of internal audit to update their knowledge and adjust to the current practice.

Auditing as a key factor in controlling every kind of organization with financial and economic aspect serves as a sort of checks and balances in the financial and administrative procedure of any organizational setup. Apart from explaining the concept of auditing and it’s operations, emphasized  is laid on the problem areas in the account of governance, accounts maintained by  the government and procedures involved in auditing government accounts.

The need for maintaining and adequate, effective and  efficient internal audit system, therefore cannot be over emphasized especially in days like these  when Nigeria economy is with effort in ensuring that wastage, pilferage, misappropriation and checked or avoided and to ensure that asset are being secured.

 

1.2    STATEMENT OF THE PROBLEM

i.       often management of public sector and internal audit department function are seen as contradictory rather then complementary.

ii.      Internal audit department which is set up to ensure adherence to management policy may not achieve their main objective because of interference and undue influence by top management.

1. 3. That the internal audit adequately equipped with.

 

4. That better and well-trained professional should be employed for efficiency and effectiveness.

1.3    OBJECTIVE OF THE STUDY

i.       To identify the problems in internal audit department of public sectors.

ii.      Finding ways of improving on the internal audit

THE ROLE OF AUDITORS IN PREVENTION OF FRAUD IN BANKING INDUSTRY

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ABSTRACT

Chapter one contains the introduction and analysis of fraud. So many people define fraud in different way because of its inexplicit meaning. It also concentrate on the limitation, objectives and importance of auditing in our banking industry.While chapter two deals with the definition of Auditors and their duties in banking industry. It also discussed about various types, causes, effects of frauds in banks as well as the role of Auditors to hip it in the bud.
The paper equally looked into the means of preventing or reducing the incidence of fraud in the banking industry or operation. From the analysis, it was established that there are incidence of fraud in our banks. It was equally discovered that fraud occurs more frequently on current account department than in any other departments and this is normally done through forged cheques. It was also discovered that bank frauds can hardly succeeded without the aid of bank staff.
Finally, it was discovered that frauds have effects in operation and progress of the frauds have effects in operation and progress of the banks despite the control technique that have been instituted by the management of the bank.

TABLE OF CONTENT
CHAPTER ONE

1. 1. Introduction
   2. Background of the study

CHAPTER TWO
2.1 Who is an auditor and duties of an auditor
2.2 Types of fraud
2.3 Causes of frauds in banking industry
2.4 Effect of fraud in banks
2.5 The role of auditors in fraud prevention

CHAPTER THREE
3.1 Summary / findings
3.2 Conclusion
3.3 Recommendations

CHAPTER ONE

INTRODUCTION
1.1       BACKGROUND OF THE STUDY
The last two decade have witnessed an alarming increase in the incidence of commercial bank fraud in Nigeria which result in heavy lost to the banks and its customers. Nigeria, being a developing economy with increasing level of mechanization developing market as well as low level of competence in management. Experienced one of the most serious threat to the spread and practice of banking within the period.
Nigeria is one of the societies where corruption is the rule. Values are grossly misplaced and emphasis an wealth are able to accumulate. Undoubtedly bank frauds posses both economic and social problems and huge sum of capital has been lost by banks. Most Nigeria wants to be classified and included into the class of wealth millionaires even when they have not worked hard to be classified as rich people.
These are numerous existing laws targeted at controlling fraud but the general attitude of some Nigerians seem to make nonsense of the statutes existence. Most times, the law are visited only when the less privileged ones are involved (IKPE DENNIS NNAMDI). There is also a strain in the bank customer relationship and the image of the bank as a trust worthy financial center has been adversely affected. It is necessary the problem of bank fraud should be critically viewed and handled with perception considering the geometric rise in fraud want activities in commercial banks so as to restore a fraud free banking

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