ABSTRACT
This research work was undertaken to assess the appraisal of internal control; as an effective guide to management decision making.
The work was intended amongst other things to achieve the following objectives: The accuracy of internal controls in safeguarding assets; The accuracy in preventing and deterring errors and defalcations; whether the controls serve as a check on authorization, execution and recording procedure, whether the controls serves as a effective guide to management decision making.
Also in related literature reviews were done on relevant accounting information necessary for management decision making.
Relevant data were collected from both primary and secondary sources. (200) number of population were used in determining the sample size.
Questionnaire was the main primary data used while data from various relevant publication constituted the sources of secondary data.
Upon the analysis of data the following conclusion were draw; that internal control is an effective guide to decision making, this indicate that internal control systems in manufacturing firms are utilized effectively ;in management decision.
On the basic of the above findings, it was recommended that management should continue to lay emphasis on effective implementation of the controls.
The research made recommendations based on the results of the study. For further investigation there is need to know how far Emenite Limited make use of research findings for better service in management decision making.
TABLE OF CONTENT
Page
Title Page i
Certification ii
Dedication iii
Abstract iv
Acknowledgement v
Table of content vi-vii
CHAPTER ONE INTRODUCTION
1.1 Background of the study 1-3
1.2 Statement of problem 3
1.3 Objective of the study 3-4
1.4 Significance of the study 4
1.5 Scope / Limitation of the study 4-5
1.6 Research question 5
1.7 Statement of hypothesis 6
1.8 Definition of terms 6-8
1.9 Brief History of the Company 8-9
References 10
CHAPTER TWO REVIEW OF RELATED LITERATURE
2.1 Definition of internal control 11-13
2.2 Features of internal control 13-15
2.3 Internal Auditor 15-17
2.4 Division of internal control 17
2.4.1 Plan of organization 17
2.4.2 Authorization, recording and custody procedure Sales department 18
2.4.3 Managerial Supervision and Review 18
2.4.4 The Accounting structure 18-20
2.5 Relationship between internal control and internal Audit 20-21
2.6 Relationship between internal control and External Auditor 21-22
2.7 Areas that internal control 22-25
References 26-27
CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY
3.1 Source of data 28
3.2 Selection of data 28
3.3 Collection of data 28
3.4 Sample size determination 29-30
3.5 Distribution of questionnaire 30
3.6 Data Analysis technique 31
CHAPTER FOUR DATA PRESENTATION AND ANALYSIS
4.1 Introduction 32
4.2 Questionnaires for Accounts department staff and internal control 32
objectives
4.3 Analysis of questionnaire 32-33
4.4 Test of Hypothesis 33-36
CHAPTER FIVE FINDINGS, RECOMMENDATION AND CONCLUSION
5.1 Findings 37-38
5.2 Recommendation 38-39
5.3 Conclusion 40
Bibliography 41-42
Appendix 43-47