INTERNAL CONTROL SYSTEM AS A MEANS OF DETECTING AND MINIMIZING FRAUD IN GOVERNMENT ESTABLISHMENTS (A CASE STUDY OF LOWER NIGER RIVER BASIN AND RURAL DEVELOPMENT AUTHORITY ILORIN)


INTERNAL CONTROL SYSTEM AS A MEANS OF DETECTING AND MINIMIZING FRAUD IN GOVERNMENT ESTABLISHMENTS (A CASE STUDY OF LOWER NIGER RIVER BASIN AND RURAL DEVELOPMENT AUTHORITY ILORIN)  

Table of contents 

Title page

Certification 

Dedication

Acknowledgment

Table of contents 

CHAPTER ONE: - INTRODUCTION

1.1 background of the study

1.2 statement of the problem

1.3 aim and objective of the study

1.4 research question

1.5 research Hypothesis 

1.6 significant of the study

1.7 scope/definition of the study

1.8 limitation of the study 

CHAPTER TWO :- LITERATURE REVIEW 

2.1 introduction

2.2 Historical background of first lower Niger River basin and rural development authority Ilorin.

2.3 Characteristic of good internal control system

2.4 Definition of fraud

2.5 Classification of fraud

2.6 Form of fraud

2.7 Causes of fraud

2.8 Circumstances that allow fraud to be perpetrated

2.9 Effect of fraud in an organization and general public 

2.10 How to prevent fraud

CHAPTER THREE: - RESEARCH METHODOLOGY 

Introduction

Research design

Population of the study.

Sample and sampling technique

Method of data collection

Method of data analysis

Limitation of the methodology 

CHAPTER FOUR:- DATA PRESENTATION ANALYSIS AND INTERPRETATION

4.1 Introduction

4.2 Data presentation, analysis and interpretation

4.3 Testing of hypothesis

4.4 Summary of the chapter

CHAPTER FIVE: - SUMMARY, CONCLUSION AND RECOMMENDATION 

5.1 Introduction

5.2 Summary

5.3 Summary of findings

5.4 Conclusion

5.5 Recommendations

5.6 Suggestion for further studies

Bibliography 

Appendix.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

In any organization be it small, medium or big, it is very crucial to work towards achieving a goal. To struggle towards the realization of this goal, one needs to employ human, financial and material resources. The degree of achievement largely depends on the organization’s ability to coordinate the above resources towards achieving the stated objectives.

No doubt, the economic recession has affected both individual and companies in general and this has gone a long way to guide expenditure pattern and disbursement of income, hence the need for proper planning and administration. There is also the need to harness all available designing on appropriate and acceptable management and accountability to the owners of the business.

The managerial technique is known as internal control system. It is devices introduce to ensure that managerial polices are strictly adhering to it is also advice to safeguard assets and to secure as far as possible the accuracy and completeness of records.

Internal control is defined by American institute of certified public accountant is any means for internal audit but it comprises the plans of organization and all of the coordinate methods and means adopted within a business to safeguard its assets, checks the accuracy and reliability of its accounting data, promote operational efficiency and encourage adherence to prescribed.

1.2 STATEMENT OF THE PROBLEM

Fraud practice as a result of improper talking account record in global phenomenon. It is general believe that fraud can only be minimize but cannot be eradicated. On the other hand, internal control comprises of all control. (Administrative, finance and erterial) put eradication, an organization are always mead to minimize, if not totally eradicated in government establishment.

The extend to which certain control is performing in public or government establishment is in question yet to be addressed with the rate of fraud in some government.

However, in this research attempt to addressed such question in order to bone a close approval of their system of internal control system in the government establishment management policies. Another school of thought sees internal control as the plan of organization and all of the coordinated method and measures adopted within business to safeguard its assets check the accuracy and reliability of its accounting data promote operational efficiency and encourage to prescribed management policies”

The main reason for internal control is to detect and minimize on the other hand fraud is a criminal and deceptive device employed by the use of false representation to obtain unjust advantage either in cash or kind to the detriment of the company.

The system of internal control can very widely up upon the organization and activities that are involved however, there is a common frame work of every internal control system and these are usually in the form objective measurement of performance against objectives , analysis and appraisal of the objective.

The most important things is that for any organization to succeed, the most effective internal control system is to detect and minimize fraud to its lowest in order to achieve a statement objective of the organizations. 

1.3 AIM AND OBJECTIVE OF THE STUDY 

Internal control comprises the whole system of financial control and other control established and operated within a business including internal audit and all other form of control. Internal control relates to the entire system of control in an organization and it is not limited to accounting matters alone.

The immediate objective of this study are:-

i. To examine critically how assets of an organization can be safeguard through internal control

ii. To identify internal control system that the works done by junior officers are duly checked by their superior to ensure conformity with established standard.

iii. To examine that the use of the organization facilities are authorize and used for the benefit of the organization.

iv. To examine that funds and property of an organization are kept in proper custody and suitable condition.

v. To examine how all payment and receipts are dully accounted for.

vi. To identify internal control system that would detect and minimize fraud in order to facilitate the attainment of organization objectives. 

RESEARCH QUESTION

1. What does an organization stand to lose if it internal control system are ineffective?

2. Can effective internal control actually increase the level of profitability and accountability by an enterprise?

3. What are the impacts that internal control system has in an organization?

4. If the internal control system is weak, is the management being noted about such weaknesses?  

1.4 RESEARCH HYPOTHESIS 

The researcher have formulated hypothesis as a guide to adhere to the main purpose of the study.

Ho:- An effective internal control system does not prevent 

or reduce irregularities in government establishment.

HI:-an effective internal control system prevent or 

reduces irregularities in government establishment.

Ho:- The cooperation of all members of staff is not 

necessary for the smooth operation of an internal control system.

HI:- The cooperation of all members of staff is necessary 

for the smooth operation of an internal control system.

Ho:- Internal control is more or less paper works hence 

errors and fraud continue to re-occur.

HI:- Internal control is more or less paper work, it does 

not allow errors and fraud continue to re-occur.

1.5 Significance of the study 

The significance of the study is to enable the responsible officers or manager handle the rime of counterfeiting financing documents and stealing materials and money in order to minimize fraud to its lowest rate so as to achieve the organization objective this is wealth maximization. Also to make management sees the need to make use of effective internal control system in order to map the strategy to minimize fraud if not make proper record keeping part of its life.

Na organization with an ineffective internal control system will no doubt suffer a great loss and this adversity affects its progress. Therefore, it is this context that the researcher wishes to analyze and emphasis the need of internal control on suggests ways by which effective control could be established in an organization.

1.6 SCOPE / DELIMINATION OF THE STUDY

It is not possible to look into the system of internal control of all government establishments due to limitation in times, the project will be limited to the internal control development authority ilorin. The objectives ad relevance of internal control system will be covered by the study.

Furthermore, out of the techniques that can be use in evaluating the system of internal control this research is limited to internal control questionable.

The data gathered from the internal control department of the case study as well as the result and conclusion is expected to bear relevance to all companies with internal control.

1.7 LIMITATION OF THE STUDY

The research works will cover the use of internal control in organization taking government parastatal (lower Niger River Basin and Rural Development Authority) as a case study. It will also cover the implementation of internal control in the authority and the suggested to the weakness of the control if any.

This will not go beyond aforementioned above, due to some custards stated below:-

i. Inadequate information together with necessary data for the basis of the internal control system. 

ii. Lack of enough textbooks in the library 

iii. Lack of financial aid for the proper analysis of the research work such as the use of questionnaire.

.

INTERNAL CONTROL SYSTEM AS A MEANS OF DETECTING AND MINIMIZING FRAUD IN GOVERNMENT ESTABLISHMENTS (A CASE STUDY OF LOWER NIGER RIVER BASIN AND RURAL DEVELOPMENT AUTHORITY ILORIN)



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.NET

Researchwap.net is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.net guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

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.net 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.net" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "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.
  • "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 .
  • "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.