ASSESSMENT OF INTERNAL CONTROL SYSTEM IN GOVERNMENT ESTABLISHMENT.

(A CASE STUDY OF UNTH, ENUGU)

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CHAPTER ONE

Introduction                                                             1

• Background of study 1
• Purpose of the study 5
• Statements of problem 5
• Research Questions/hypothesis 6
• Significance of the study 7
• Scoped of study 7
• Definition of important terms 8

CHAPTER TWO

Review of Literature                                                          9

• Introduction 9
• Assessment of internal control 10
• Internal control objectives 14
• Internal control techniques 19
• Internal audit 23
• Budgetary control 27
• Independent of auditors 30

CHAPTER THREE

Methodology                                                                               32

• Design of the study 32
• Area of the study 32
• Population 32
• Sample and sampling procedure 32
• Instrument for data collection 33
• Validity of the instrument 33
• Reliability of the instrument 33
• Method of data collection                                                 34
• Method of data analysis 34

CHAPTER FOUR

Data Presentation and Analysis                                          35

CHAPTER FIVE

Findings and Discussion for Result                                             41

• Discussion of the findings 41
• Conclusion 42
• Implications of the study 43
• Recommendation 43
• Suggestions for further study 44
• Limitations of the study 45

References                                                                         46

Appendix                                                                           48

 

 

 

 

 

ABSTRACT

The primary objective of this project work is to discern the impact of internal control system assessment in government establishment using university of Nigeria Teaching Hospital, Enugu as a case study.  Many people think of internal control system as a highly technical field which can be understood only by professional Auditors.  Actually nearly every establishment practices internal control in one form or another on an almost daily bases.

However, internal control system therefore could be viewed as a firms or organizational plan including all methods and measures taken to:

1. i) Safeguard its assets

1. Ensure the accuracy and reliability of its accounting data

• Promote operational efficiency and

1. Encourage compliance with the organizational policy.

These are the main concern of this research work efforts have been made in this research work to explain the normal governmental internal control systems, and its usage as an aid to asses government establishments.  Also, the two categories of internal control are discussed.  Various internal control procedures being practised in university of Nigeria Teaching Hospital are identified.

The findings were that internal control system needs urgent attention so as to ensure strict compliance to management  policy.

Finally, in this research work, there is a constructive explanation of scope, objective, basis concepts and principles of internal control applicable in government establishment as an aid to solving the problem of expenditure control.  The researcher therefore conclude that for internal control to be effective, emphasis should be placed on the accountability morality, integrity, Honesty, ethics and behaviours of the officers operating the system.

CHAPTER ONE

 

1.1     BACKGROUND OF THE STUDY

The chartered institute of Public and finance accountants (CIPFA) states that the internal control system comprises the whole system of controls, financial and otherwise, established by management in order to carry on the business of the organization in an orderly and efficient manner, ensure adherence to management policy safeguard the assets and ensure  as far as possible the completeness and accuracy of the records.

Individual components of internal control system are known as “control i.e Internal control”.

The Canadian institute of chartered accountants, Exposure Draft of proposed auditing Recommendations describes internal control as comprising of the plan of an organization and all the co-ordinate systems established by the management of the enterprise to achieve management objectives by ensuring as far as is practical, the orderly and efficient conduct of its business including the safeguarding of assets, the reliability of accounting records and the timely preparation of reliable financial information.  Internal control system, therefore canto be viewed as a firms organizational plan including all methods and measures by the firm takes to

• Safe guide its assets
• Ensure the accuracy and liability of its accounting data
• Promote operational efficiency and
• To encourage compliance with company policies

This is my abridged definition:

It is the responsibility of management to determine the internal control which is appropriate to the organization.  The nature and extent of controls will vary between organizations and also from one part of an organization to the other.

The controls used will depend on the nature, size and volume of the activities and the degree of control which management are able to exercise personally, geographically distribution and may other factors.

Internal control can be divided into two main categories financial controls which are primarily concerned with legitimacy of expenditure and the security of assets and income and other controls mainly administrative which are created and maintained by management the ensure that an activity is relevant to the needs of an organization and is carried out in the most effective manner.  These categories are independent and should be regarded in isolation as both have an impact on the performance of activities and their consequent cost and value to the organization.

 

Accounting and Financial Controls

These consists of all accounting, financial and monetary control techniques and systems built into the internal control system to promote and encourage the attainment of the objectives on internal controls.  Generally, accounting and financial controls consists.

• Budgetary Control: This refers to formulation of plans of future activity, which by down carefully determined objectives and programmes of activity and provide yard stick by which deviations from planned achievements can be measured.  It is defined as “the establishment of departmental budgets relating to the responsibilities of executives to the requirements of policy.
• Legitimacy of Income and Expenditure: All income and expenditure should be in accordance with the policy of the organization should be properly authorized and written in law.
• Security of Assets: Assets of the organization should be kept in properly custody and not wrongly applied either by error or intent.
• Accounting control: All transactions should be correctly recorded processed and control account should be maintained.   It is in the bid to discuss those internal control systems that this work is carried out.

 

 

 

 

1.2     PURPOSE OF STUDY

Here the researcher intends to

1. Identify the various internal control procedures being practiced in university of Nigerian teaching hospital