* Pakistan Journal of Social Sciences | Year: 2009 | Volume: 6 | Issue: 4 | Page No.: 181-189 | | Impact of Internal Control System in Banking Sector in Nigeria | | Olaoye Clement Olatunji | | Abstract: The Central Bank of Nigeria reported that the backward development in Nigeria was attributable to weaknesses in the internal control systems of the banks. This has clearly pointed out the picture of how fraud has been penetrated in the financial strength of Nigerian Banks. In
Words: 5433 - Pages: 22
INTRODUCTION Internal control, the strength of every organization, has become of paramount importance today in Nigerian banks. The reason being that the control systems in any organization is a pillar for an efficient accounting system. The need for the internal control systems in the organizations, especially banks, cannot be undermined, due to the fact that the banking sector, which has a crucial role to play in the economic development of a nation is now being characterized by macro economic
Words: 5108 - Pages: 21
Qualification structure and syllabus CIMA Chartered Management Accounting Qualification 2010 December 2008 Contents CIMA now designs its qualifications in what we believe to be a unique way. Based on rigorous international primary research with all of our key stakeholders and involving the participation of over 6,000 individuals and organisations – members, students, employers (both existing and potential), CIMA tuition partners, universities and our examiner and marker team – we have designed
Words: 22006 - Pages: 89
differences between preventive, detective and corrective control procedures. b)Why should timely reports be an essential element within a company’s Internal control system and what kind of control is it? a)Preventive control procedures are designed and implemented before an activity is performed to prevent some potential problem (e.g., the inaccurate handling of cash receipts) from occurring that relates to the activity. Detective control procedures are designed and implemented to provide feedback
Words: 981 - Pages: 4
Case Study 2 Solution Date:-08/10/2014 LJB Company :- Internal control No | Particular | Page no | 1 | Introduction | 1 | 2 | Topic 1 Explanation | 1-2 | | Internal control requirement | | 3 | Topic 2 Explanation | 2-3 | | Internal control requirement | | 4 | Topic 3 Explanation | 3-4 | | Internal control requirement | | 5 | Summary of recommendation | 5 | 6 | conclusion | 6 | case study 2 solution Dear president of LJB Company
Words: 2287 - Pages: 10
ijcrb.webs.com OCTOBER 2010 VOL 2, N O 6 INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS Management Control System Hamed Armesh Faculty of Management ,MMU,Malaysia Listed in ULRICH S Dr. Habibollah Salarzehi , Dr.Baqer Kord Faculty of Management, University of Sistan and Baluchestan Abstract A management control systems (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial
Words: 5165 - Pages: 21
Corporate Social Responsibility and Governance (FINM024) Assessment 1 – Case Study Aim: The case study aims at testing students’ understanding of the role of corporate governance in today’s business, how to establish good corporate governance practices, how to maintain an effective internal control system and assess control risk, and how to protect the organisation against fraud. Instructions: Students are required to read the case carefully before attempting the questions. All sources used must be
Words: 2336 - Pages: 10
management control system targets. Therefore, conventional management control systems focus on getting better operational efficiency. But as operational efficiency is no longer adequate to create sustainable competitive advantages, management control systems must be expanded to managerial practices that cultivate employee cooperation and creativeness in the discovery and development of new business opportunities. This is especially the case in the high-tech industries that are at the faced with
Words: 4444 - Pages: 18
STANDARD INTERNAL AUDIT PROGRAMME ----- I. SALES: 1 To study the system for approval and acceptance of orders and to give suggestions for improvement. 2 To check the order acceptance with price list, if any, and to report the financial impact of sales below the price list. 3 To compute the percentage mix of sales made to new parties developed during the period under review and also compute the opportunity loss due to non-development of prospective parties as customers
Words: 3428 - Pages: 14
Case Study 2 DeVry University Professor Cleary Acct. 504 28May14 Case Study 2 Table of Contents Introduction ……………………………………………………………………………………….3 Required changes ………………………………………………………………………....………3 Practices to keep …………………………………………………………………………....…….3 Practices to change ……………………………………………………………………………….4 Conclusion ………………………………………………………………………………………..5 References ………………………………………………………………………………………...6 Introduction This letter is to address some concerns that the president of LJB
Words: 821 - Pages: 4
