ACCOUNTING AS AN AID TO INTERNAL CONTROL SYSTEM

ABSTRACT This research project is on accounting as an aid to internal control system. The problem study of this research is to find out whether Enugu State Government Accounting records are properly kept according to the provision of the state financial instruction as it concerns the state government. Again to know if there is any loophole in the accounting records as it concerns their internal control. Any organization wishing to conduct its business in any orderly and efficient manner and to produce a reliable financial accounting information both for himself or others use, needs some control to minimize the effect of endemic human facings. And such control is known as internal control. Internal control can therefore be define as a system of control, financial and otherwise established by the management of an enterprises in order to carry out the business of such enterprise in an ordinary and efficient manner, to ensure as far as possible the completeness and accuracy of records. Finally the researcher is faced with problems of summary of all the findings, recommendation based on findings. From this findings accounting has been proved to be the best aid to internal control system. All this endemic human failings such as fraud, missing of files, misappropriation of funds, loop holes, distraction and so on and so forth will minimize where accounting as internal control is followed. The main objective of this research is to ascertain if the internal control is effective and to analyze ethically the soundness, adequate and application of various internal controls on accounting records. This will also educate the government staff, of various duties expected from them. And also determine the degree of reliance, completeness and accuracy of the accounting records as is contained in the accounting records.
TABLE OF CONTENTS Title pageII Approval pageIII DedicationIV AcknowledgementV AbstractVII Table of contentsIX
CHAPTER ONE: INTRODUCTION 1.1General overview1 1.2Statement of problem3 1.3Objective of study4 1.4Significance of the study5 1.5Scope and limitation6 1.6Definition of terms7 References9
CHAPTER TWO: REVIEW OF RELATED LITERATURE 2.1 General approach to internal control system12 2.2 Local related and foreign related literature13 2.3 Objective of internal control system17 2.4 Principle and characteristic of internal control19 2.5 Types of control of internal control system21 2.6 Internal control and management24
CHAPTER THREE: SUMMARY, RECOMMENDATION AND CONCLUSION 3.1 Summary26 3.2 Recommendation27 3.3 Conclusion30      Bibliography32