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The Impact Of Internal Control System On The Effective Management In Government Ministries
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1.8 DEFINITION OF TERMS
It
is intended that the following terms are going to be used from time to
time in this book. It is therefore of paramount importance to define the
actual information.
Financial: this deals with monetary perspective
of every transaction; it can also be viewed as part of government
activities which deals with the collection, custodys and disbursement of
public funds.
Public: this is any activity concerned with the society in general.
Budget:
this is an annual comprehensive report of the state of the national
economy. It reviews old economic and social problems and anticipates new
ones. It also surveys the future project of the economic and
transactions problems into goals and objectives.
Accounting officer: He is the officer who is responsible for controlling vote in a ministry or department.
Auditor:
An auditor is an independent expert who has sufficient expertise to
asses the information on which he is asked to reports.
Auditor
report: This is the result of overall examination of accounting
statements of an organization for a particular period using within a
financial year. The auditors report is his findings as whether the
statements examined represents true and fair view of the organizations
affairs.
Government policy: this policy concerns statements official
or outline of governments intended action or program popularly called
blue prints which are usually designed to achieve the goals of the
public.
Government expenditure: this refers to government spending
governments’ money through various ways in order to keep the machinery
of government in motion and to prove the much needed social and economic
services to the populace.
Government revenue: This refers to income generated by government through different sources such as tax, rates, court fines etc.
Accounting
Control and Management: this is the allocation of responsibility in the
areas of checks or routine transaction by means of work of one person
is complementary to that of another or the work of one’s person being
independently proven right or wrong by another.
Internal Audit: This
has to do with the reviews of records and operations of organization
aimed at ensuring reliability of records and efficiency of operations.
Accounting:
This is a discipline concerned with the recording, analyzing and
recasting of income and wealth of business and other entities.
Generally, it records in monetary terms the flow of economic values
between or within the economic entities.
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