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The Impact Of Internal Control System On The Effective Management In Government Ministries
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1.4 RESEARCH HYPOTHESIS
The research is intended to investigate
the impact of internal control system in the circumstances of
embezzlement and fraud detection in the ministry of finance.
Therefore the data to be collected in this exercise will be used to test the following hypothesis.
H1: Effective internal control system can help to prevent and detection of fraud in the finance ministries.
H0: That effective internal control system may not help to prevent and
Research
is poised to confirm true or otherwise, to achieve this purpose the
research has formulated the above hypothesis. That the general financial
management and control system as regard revenue and expenditure is
effective, efficient and technical. Also the general financial
management and control system as related to the public opinion is
inadequate, ineffective, and this lacks improvement in its operation
achievements which will hinder general development.
detect fraud in the ministry of finance.
1.5 SIGNIFICANCE OF THE STUDY
The
importance of the study is not related to the general public wishing to
known that improvement would be made of the system where there are loop
holes. It also seeks to identify problems associated with the general
financial management and control system in order to help in harmonizing
relationship of the inadequate financial resources with the general
development. It will help in planning, controlling, modeling analyzing
and decision making.
The internal audit unit is the most integral
part of the internal control system in the organization. Therefore,
there is need for proper organization of the internal and audit system.
This research work will give a prospective view as to how the internal
audit could be organized in order to keep the activities in order.
This
study will also be of help to the ministry and other related
organizations as to show errors and frauds and other irregularities
could be easy or easily detected and prevented. It is a strong feature
of any successful business. An organization could be easily detected and
prevented. It is a strong feature of any successful business. An
organization with in effective internal control system will find it very
difficult to protect and properly manage its funds.
1.6 SCOPE AND LIMITATION OF THE STUDY
This
study work is to look into the relationship at the public with the
financial management control system of the ministry being administered.
The subject of financial management is external or extremely broad and
complex, the deficiency of the field is compounded by the fact that it
can be approached in a variety of ways i.e. descriptive, theoretical,
analytical or appreciative; for the purpose of this project these areas
may not be correct completely. A situation helps greatly in the success
of the study, so this study is being under light and hard financial
situation.
Thus, the study encountered obstacles which militated its scope such as:
- This study would require a longer period of time than the time allowed for the study.
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Also the financial situation will make it hard to meet up with the
traveling fees to where vital information is forgotten.
- Also
there will be lack of cooperation from the public and staff concerned.
People will deliberately refuse to give out required information out of
ignorance and fear of revealing the secret of the cheque as pertaining
financial data.
The study being subjected to various newsletters,
journal, public broadcasting etc where vital information is likely to be
obtained i.e. in this present democratic system of government.
Accessibility
to data: the research could not have access to all the needed data from
the organization classified, confidential secret etc. this hindered
collecting of adequate information for the preservation of future data.
The books available are outdated and as such one is forced to rely on
external sources for the purpose of research. This caused a delay in the
work of this.
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