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Effective Internal Control as an Aid to Management Efficiency

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Description

– Effective Internal Control as an Aid to Management Efficiency –

Download Effective Internal Control as an Aid to Management Efficiency. Students who are writing their projects can get this material to aid their research work.

Abstract

Effective Internal Control as an aid to management efficiency is critical review of this research work. From the analysis also, it was found that a number of managerial problems such as inadequate account records, inefficient accounting procedures, unqualified personnel fraud etc are faced due to lack of effective internal control.

Over 80% do not have a well designed internal control system and these limits the success and growth of a business enterprise. Most recommended to these problems is the need to be enlightened about the importance efficiency-

check and internal audit but the whole system of control, financial and otherwise established by management in order to carry on the business on the business a company in an orderly manner, safeguard accuracy and reliability of its records. Awoyemi E. O (1990).

The study also sought to know the effect of not having internal control in the management decision and profit level that though the lasting of hypothesis with use of satisfied data.

Introduction

1.1 Background of the Study

The need for study in this area comes from the fact that internal control is a very important management function, however not much has been done to view its impact on business. It has to be understood that without effective internal control, there can be no successful business.

This may explain why some business enterprises are higher than those of a similar enterprise and to a larger extent, why many public enterprise and parastatals fail. The purpose of internal control is to help to ensure that operations and performance conform to the plans.

It follows therefore that effective control is not possible without planning and planning without a complementary control system is pointless. In organizational system, control is exercised by the use of information frequently of a financial nature.

Internal control is beginning to find more dept in the subject of management accounting, especially as part of the theory of control in Accounting.

Since control system are established by management to assists in achieving the orderly and efficient conduct of business and improve the negative effects on the health of the business. It can then be argued that effective internal control is a key to organizational performance.

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