INTERNAL CONTROL SYSTEM IN A COMPUTERIZED ENVIRONMENT A CASE STUDY OF GUINNESS NIGERIA PLC.
This project was carried out with the objective of studying the Internal Control System in a computerized environment in connection of Guinness Nigeria Plc, with a view to identifying some areas of attention and development in the system. This research work is presented in five chapters. Chapter One contains the Introduction, background of the study, statement of the problem, objectives of study, research questions, significance of study, limitations of the study. Chapter Two deals with the theoretical frame work and contains in formations gathered from text books, articles and other publications. Chapter Three deals with the research methodology and describes the instruments of data collections for the study. In chapter Four, the data collected from various sources are presented and analyzed to reveal the strengths and weakness in the system where they exist. Chapter Five produces a summary of the research recommendations were made to eliminate the weakness observed in the system and conclusion were drawn from the data gathered. There is also a bibliography and an appendix containing the internal control questionnaire used for study.
TABLE OF CONTENTS
Approval Page ii
Table of Contents vi
1.1 Background of the study
1.2 Statement of the problem
1.3 Objectives of the study
- Research Questions
- Significance of the study
1.6 Scope of the study
1.7 Limitation of the study
1.8 Definition of terms.
2.0 Literature Review
2.2 Brief history of the case study centre
2.3 Essential features of Internal Control
2.4 Internal Control in small organization
- Internal Audit
- Types of Computer
2.7.1 Micro Computer
2.7.2 Mini Computers
- Internal Control in electronic data processing
- General Controls
- System development controls
- Advantages of Internal Control in a computerized Accounting system.
3.0 Research design and Methodology
3.2 Research design
3.3 Sources/Methods of data collection
3.4 Population and sample size
3.5 Sample techniques
3.6 Validity and reliability of measuring instrument
3.7 Method of data analysis
- Presentation and analysis of data
4.2 Presentation of data
4.3 Analysis of data
4.4 Interpretation of results
5.0 Summary, Conclusion and Recommendations
5.2 Summary of Findings
Internal Control, for its vital role in Accounting has been view and elaborately examined from various standpoints. Authors of Universally acclaimed academic reputation have made their own contributions; International accounting bodies are not left out in this regard. In all their contributions, a common idea comes to bear that Internal Control System “are aimed mainly at improving accountability for actions, the accuracy and liability of records, the safeguarding of assets and the overall efficiency of operations.
The primary aim why auditors make use of computer in carrying out auditing task is to ensure accuracy and efficiency of computer revolution inited by the internet and world wide web. Auditor does now operate in a highly competitive and changing global auditing environment.
According to Mull champ who adopted the standard definition, internal control is the whole system of the enterprises, in an orderly and efficient manner. The common point in the definition that worth nothing are:
Internal control system assists management in running one company’s business in orderly and organized manner.
Internal control gives a broad meaning extending beyond the accounting and financial applications. As mentioned earlier, the definition is remarkably close in describing the meaning of internal control. It is however, to promote operational efficiency dynamism and creation role in the control of the business structure.