THE EFFECT OF ACCOUNTING AND INTERNAL CONTROL SYSTEM IN DEPOSIT MONEY BANKS OPERATION

ATTENTION:

BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPICS BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!

INFORMATION:

YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COST N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR

YOU CAN CALL: 08068231953, 08137701720

WHATSAPP US ON: 08137701720

THE EFFECT OF ACCOUNTING AND INTERNAL CONTROL SYSTEM IN DEPOSIT MONEY BANKS OPERATION

1.2 STATEMENT OF PROBLEM

In spite of the Commercial Banks importance in building economic growth and development, commercial banks are faced with problems ranging from lack of adequate and sound accounting system, procedures and for rendering returns and required information to Head Office, lack of experienced, qualified and well exposed staff to render bank accounting operations. Besides, some of the Bank appointees studies courses that are not related to banking and accounting. These staff that lack accounting skills are allowed to manage and handle accounting records without realizing that banking business is a professional and specialized business. No proper book keeping and records, inconsistency and divergence of accounting operations and reporting practices which create survival problems of troubled banks and resulted in bank failures, bank distress and or lost of public confidence in the banking sector. Disregard for existing banking policies and guidelines, thereby making customers to lose confidence occasioned by being, distressed among other things. These in view made Central Bank of Nigeria (CBN) introduced stringent control in 1994.

The fact that Banking is in the service industry, therefore the quality of services rendered by banks has direct relationship with its survival via its accounting system, procedures and internal control system.

1.3 OBJECTIVE OF THE STUDY

The main purpose of this study is to examined the effect of accounting and internal control system in Commercial banks. In other words to assess control measures that management of the Commercial banks can adopt within their organizations to ensure the effectiveness and efficiency of operations; reliability of financial and management reporting; compliance with applicable accounting laws and regulations; prevent fraud; intentional errors in accounting records and misappropriation embezzlement of the organization’s assets in order to achieve its goals effectively and efficiently.

Therefore the study intends to;

(i) Examine the adequacy or otherwise of the relevance of internal control system in Commercial banks.

(ii) Examine the contribution of internal control components (prevent controls’ and defect controls’) to the effectiveness and efficiency of Commercial Banks’ management.

(iii) To determine the level of correlation between accounting internal control and the effectiveness and efficiency of operation in Commercial Banks.

(iv) To determine whether accounting and internal control ensures compliance with applicable laws and regulations.

(v) To determine the degree of reliance to be placed on the accounting system and internal control in commercial banks.

(vi) To identify and analyze the prevailing problems associated with the accounting and internal control system and to examine the extent to which these problems affect the banks.

(vii) To offer useful suggestions and recommendations on how to improve the accounting system, procedures and internal control system of commercial banks in order to be more effective in meeting future challenges.

1.4 RESEARCH QUESTIONS

The research work would seek answer and clarification to some of the research questions as stated below:

(a) Does accounting and Internal Control System are sure that errors and frauds can be discovered with reasonable promptness, and whether the control procedures as prescribed and applied in practice are successful in preventing and defecting material errors and fraud in the accounting system.

(b) Can reliance be placed on accounting and internal control system of commercial banks in Nigeria?

(c) Is there any significance relationship between accounting, internal control, profitability and liquidity of the banks in Nigeria?

(d) Is there a positive correlation between the commercial banks degree of compliance with accounting system, procedure, applicable laws, regulations and internal control.

(e) Does accounting and internal control system aids management in decision making?

1.5 STATEMENT OF HYPOTHESIS

The following hypothesis was formulated and empirically tested and make appropriate recommendation based on the findings:

1. HO: Reliance cannot be placed on accounting and internal control system of commercial banks in Nigeria.

HI: Reliance can be placed on Accounting of Commercial Bank in Nigeria.

2. HO: There is no significance relationship between accounting, internal control, profitability and liquidity of the banks in Nigeria.

HI: There is a significance relationship between accounting internal control, profitability and liquidity of the banks in Nigeria.

3. HO: Accounting and internal control system of banks does not ensure compliance with applicable laws and regulations.

HI: Accounting and Internal control system in Bank ensures compliances with applicable laws and regulations

4. HO: The accounting and Internal Control System does not aids management in decision making.

HI: The accounting and Internal Control System aid management in decision making.

1.6 SCOPE OF THE STUDY

The research tolerated some degree of possible risk or error in testing the hypothesis formulated in the research study.

The level of significance of 5% or 95% confidence level is permitted at 1 degree of freedom. Also expected frequency is 50% of each option. The researcher makes decisions based on the decision rule stated below.

(i) Decision Rule One: Reject the Null (Ho) hypothesis if the calculated value of the statistical test is greater than the tabulated critical value.

(ii) Decision Rule Two: Accept the null (Ho) hypothesis if the calculated value of the statistical test is less than the tabulated critical value.

HOW TO RECEIVE PROJECT MATERICAL(S)

After paying the appropriate amount (#5,000) into our bank Account below, send the following information to

08068231953 or 08168759420

(1) Your project topics

(2) Email Address

(3) Payment Name

(4) Teller Number

We will send your material(s) after we receive bank alert

BANK ACCOUNTS

Account Name: AMUTAH DANIEL CHUKWUDI