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Internal Control System In A Manufacturing Organization
[A CASE STUDY OF INTERNATIONAL BREWERY PLC, ILESHA, OSUN STATE]
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1.4 SCOPE OF THE STUDY
The study will cover an in-depth explanation of what internal control is and the general impact of sound internal control system has contributed to the one the growth and survival of the international Brewery company, ilesa.
1.5 SIGNIFICANCE OF THE STUDY.
The research work would be of great important most especially to the company chosen as the case study and other manufacturing companies. Also the researchers believe is going to be of great help on adjusting the existing system and improve on it. In addition in the above, future researchers and students generally would benefit from the study.
1.6 LIMITATION TO THE STUDY
The major limitation to this research is as a result of lack of data in the organization.
The lack of sufficient books and distance also there is no enough time for carryout the research which constitute to the hindrance.
Also not all information are released for the fear of revealing the company secret and difficulties ion gaining access to organization literature and annual report.
1.7 DEFINITION OF TERMS
The auditing guidance on internal control defines internal control thus:
INTERNAL CONTROL SYSTEM: this is whole system of controls, financial or otherwise, which established by the management in order to carry on the business of the enterprise in an orderly and efficient manner, ensure adherence to management policies safeguarding the assets and secure as far as possible the completeness and accuracy of the records, the individuals components of internal system are know as controls.
Some authors from USA explained internal control as the system within a company consisting of its plan organization, the assignment of duties and responsibilities, the design of business and reports all measures and methods employed.
a. To protect its assets:
b. To promote and judge the operational efficiency of all aspect of the company activities.
c. To encourage the accuracy and reliability of business studies and other operating data and reports.
TERMS: Is a mathematical expression which may form a separable part of a equation series or another expression.
ORGANIZATION: Is a social unit of people systematically structured and managed to meet a need or to purse collective.
CONTROL SYSTEM; is a device, or set of devices to many command direct or requite the behavior.
PRODUCTION: Can be define as the transformation of raw materials into finished goods to satisfy human want.
COMPANY: Can be defined as an organization of people in group of business in effort to make money.
EMPLOYEE: Can be defined as the process of people that looking for job in essence of the company for more progress.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTSocial responsibility consists of information that guide the goal attainment of a business firm. It is therefore our sincere desire to look into goal attainment of business activities. This study will also lay emphasis on effective goal attainment. Obviously, without goals attainment success is not certain in any Business Firm. This study will also help to proffer directions to any Organization target, the knowledge of events only on the business is accepted in the social responsibilitie ... Continue reading---
