THE EFFECT OF INTERNAL CONTROL SYSTEM IN MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY ILORIN PLANT)


THE EFFECT OF INTERNAL CONTROL SYSTEM IN MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY ILORIN PLANT)  

TABLE OF CONTENT

CHAPTER ONE

1.0 INTRDUCTION

1.1 BACKGROUN OF THE STUDY

1.2 STATEMENT IOF THE PROBLEM\

1.3 RESAERCH QUESTIONAIRE 

1.4 OBJECTIVE OF THE STUDY

1.5 SIGNIFICANCE OF THE STUJDY

1.6 RESAERCH HYPOTHESIS

1.7 SCOPE OF THE STUDY

CHAPTER TWO

2.0 LITERATURE REVIEW

2.1 HISTORICAL BACKGROUJND OF THE STUDY

2.2 MEANING OF THE INTERNAL CONTROL

2.3 THE IMPORTANT OF THE INTERNAL CONTROL

2.4 TYPES OF THE INTERNAL CONTROL SYSTEM

2.5 FATURES OF THE ITERNAL CONTROL

2.6 LIMITATION OF INTERNAL CONTROL

2.7 CONDITION FOR INTERNAL CONTROKL

2.8 INTERNATION ASPECT OF INTERNAL CONTROL

CHAPTER THREE

3.0 RESEARCH METHODOLOGY

3.1 RESEARCH DESIGN

3.2 STUDY OF THE POPULATION

3.3 DATA COLLECTION INSTUMANT 

3.4 SAMPLE AND THE SAMPLING TECHNIQUES

3.5 METHDO OF THE DATA ANALYSIS

3.6 LIMITATION OF THE STUDY

CHAPTER FOUR

4.0 DATA PRESENTATION,  ANALYSIS AND INTERPRETATION

4.1 PRESENTATION OF THE DATA

4.2 ANALYSIS OF THE DATA

4.3 TESTING OF THE HYPOTHEIS

4.4 FINDINGS

CHAPTER FIVE

5.0 SUMMARY,CONCLUSION AND THE RECOMMENDATION

5.1 SUMMARY OF THE WHOLE STUDY

5.2 CONCLUSION

5.3 RECOMMENDATION

5.4 SUGGESTION FOR THE FURTHER STUDIES

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Internal control can be defined as a whole system of the control financial and otherwise, established by the management of an organization in order to carry out the business of the enterprises orderly and the efficient manner. its main objective is to ensure adherence to the management polices, safeguard its asset and to make sure the record of the organization is complete and secured.

An auditor is defined as a competent and impertial critic appointed to verify the financial other accounting statement of the organization.

He must certify the statement exhibit a true and fair in view of the state of the affairs of the organization concerned.

However, he is not concerned with the financial strength of the organization but is task is to see the financial strenght as showed in the balance sheet is infact the actual and the true value of the organization.

Moreover, auditing can be defined as an independent examination of the expression of an appointed in the financial statement of an enterprise by an appointed auditor in pursuance of that appointment and in compliance with any relevant statutory obligation.

The internal control statement to be evaluated should be  divided into components in order to give room for major segment to be examined and analyzed.

1.2 STATEMENT OF THE PROBLEM

Internel control system, however elaborate can not by itself guantee on the efficient administration and the completeness and the accuracy of the record.

As a matter of fraud by any organization will always face in number if pushed of which the internal control system is expected to be adopted. Due to this fact most of the

Organization unit observe and always have auditor   which could enable them to check their record often.

Although, having the auditor is very important to an organization, is relevant is only when they are able to carry out their task/work  effectively in order to aid us in achieving the stated objectives and  goals.

1. Two or more dishonest person working his collusion can override  the efficiency of the best possible control.

2. Authorization control can be abuse by those whom the authority is vested.

3. Management is in a position to take control of the set up by it.

4. pressure exerted from the within and the outside. this enterprises can influence the integrity and the competence of the staff.

5. Human error due to the error of judgment and the interpretation misunderfunding, carelessness or  fatigue or distraction can underline the effective of the operation of the internal control.

Most of the problem stated alone with happen due to lack of an effective and the efficiency internal control system,  these and many other problem have wreck many organization to split and may have also close  down.

The liability of a business organization is when its be able to achieve the pre-determine objectives and denied its desires either the socially or economically.

1.3 RESEARCH QUESTIONS

The following shall be the research question to address

(i) What is the extent to which internal control can be effective in the manufacturing company?

(ii) Whether the internal control system applied work in the company or not.

1.4 PURPOSE/ OBJECTIVE OF THE STUDY

The main objective of the study is to evaluate the effectiveness of the internal control system in the manufacturing company, other specific objectives of the study  includes : 

1.5 To test as far as the scope permit, the accuracy and the completeness of the accounting record in the manufacturing industry.

(i) To determine the completeness accuracy and the validity of the company.

(ii) To see how the company safeguard its asset by enforcing street adherence to the management policies.

(iii) The purpose of the research work is to establish the effective internal control system in the organization under the study.The necessity of such role and why more organization should be devoting more resource towards the internal control system. This research work also aim at investigating and examining the system of the control  in the organization under the study.

(iv) The role of the internal audit in the attainment of the efficient and the effective internal control system is to be studies and it will be interesting to know that this is not be more checking of functional unit of the organization.

1.6 SIGNIFICANCE OF THE STUDY 

The research work is very important because it examines the internal control system of the organization and evaluate it with the overall performance of the company. The research should be able to identity its areas of strength and the weakness as regards the management of the company and hence its internal control system with a view of enhancing the recommended performance of the company.

1.7 THE RESEARCH HYPOTHESIS

So as to ensure an empiracally tested research the following hypothesis shall be tested.

H0 : there is no relationship between internal control system and the effectiveness of the operation system in the manufacturing  companies.

Hii  : there  is no relationship between the internal control system and the effectiveness of the operation system   in the manufacturing companies

1.8 SCOPE AND LIMITATION OF THE STUDY

The topic would have covered the whole of the manufacturing sector but due to the fact that the entire manufacturing company are under some legislation and the same module operand, the scope focused on some selected companies.

The research is also restricted to the effectiveness of the internal control system in the manufacturing sector with the specific emphasis on some selected companies.

CHAPTER TWO

LITERATURE REVIEW

1.1 INTRODUCTION

Very large organization like manufacturing companies and some  smaller one have found the need for an internal audit in addition to an external audit. Thus. Many organization institution have an internal audit department. The personel of this department are employee of the firm and there work is to be directed by the management and this implies that work exclusively for the firm.

However, the essential feature here is that the external auditor after have a degree of the    independence as directed by the management and may report directly to the board of director or at least, top management and they are considered as the eyes bound in the firm. The nature, scope and the objective of the internal auditor  to be carried out are usually set and the spelt out by the management.

According to the waridro (1978) internal auditing is a review of operation and the record sometimes continues undertaken within the business by specially assigned staff, with a view see minutes, that system of operation is adhered to, and the internal control is an  efficient as possible and economics consistent with efficiency and reply to the business.

The features of the internal auditing can be inferred from the definition given. Therefore for the internal auditor to report to the higher management to an audit committee where it exist) the audit personnel should have know the conflict of the intent or any restriction placed upon their work by the management.

Internal auditor is therefore evolved into highly professional activities. The major role of the internal auditing is defined by the organization but most of the internal audit action are included in the board definition by the champ (1985)

.A.   OPERATIONAL AUDIT: this means an audit of a specific set of operation, for example those that carried out in one department.

.B. FUNCTION OF AUDIT: this means an audit for the specific function in an organization such as wage operation of the sale.

.C.   ORGANIZATION AUDIT: this audit of the organization set up. The previous two types are concerns more with procedure  while the organization is part of it in which the procedures are carried out.

.D.  SPECIAL OR ADHOC WORK: an internal audit is often considered a suitable person by cause of his relative independence and his training to investigate the work to engage a special investigation or troubles shooting assignment.

Base on the information obtained during the investigation, he draft a report for discussion with the management of course   that the scope of the work is satisfactory to the management, summaries the conclusion of the justification, record of any major factors which were brought to light during the investigation was incomplete and finalized the report and submit to the management which they are securing the execution of those policies from the above definition are roles of the internal auditing, internal auditing is very useful in any organization  and it Also fast, growing and the important activities, it helps checking document and authority supporting payment .it also help in protecting the company in order to avoid fraud and the error of the financial statement.

.E.  COMPANY AUDIT: in modern word, many company were group an internal audit might then be concern with are company within the group.

.

THE EFFECT OF INTERNAL CONTROL SYSTEM IN MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY ILORIN PLANT)



TYPE IN YOUR TOPIC AND CLICK SEARCH.




TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.