This study examines the effect of internal controls on financial accountability in the public sector. The study adopts a survey design method with a population of sixty respondents consisting of staff of the Accountant General Office in Benue state, Nigeria using questionnaire in generating primary data from respondents. The statistical tool used for testing the hypotheses is the Chi-square statistics. The findings revealed that internal controls instituted in public sector are in compliance with COSO integrated framework which is used in detecting errors and fraud. The study also revealed that internal controls have significant role in the management of financial resources allocated to public sector and that management staff in public sector interfere with the effective administration of internal control procedures.
In line with these findings, we recommend that the internal control in Nigerian Public sector be constantly reviewed by management so as to be in line with national and international best practices in order to reduce irregularities, inaccuracies, fraud and errors; All employees and those in charge of managing financial resources should constantly be schooled – workshops, seminars, as well as in-service trainings so as to enable them to be conversant with matters relating to internal controls; Management staff interfering with the internal control should be sanctioned accordingly to serve as a deterrent to others to desist from such acts; and finally, auditors should be encouraged to expose wrong doings and apply the rules as and at when the situation demands.
Inhaltsverzeichnis (Table of Contents)
- INTRODUCTION
- Research problem
- Hypotheses
- LITERATURE REVIEW
- Concept of Internal Control
- Concept of Financial Accountability
- Internal Controls and Financial Accountability
- Limitations on Internal Control Effectiveness
- Empirical Review of Related Literature
- RESEARCH METHODOLOGY
- RESULTS AND DISCUSSION
- Presentation of results
- Test of Hypotheses
- Discussion of Findings
- CONCLUSION/RECOMMENDATIONS
- REFERENCES
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This study aims to investigate the effect of internal controls on financial accountability within the Nigerian public sector. The research examines the effectiveness of internal controls in the Benue State Accountant General Office, exploring their compliance with the COSO integrated framework and their role in detecting errors, frauds, and managing financial resources. The study also investigates the influence of management staff on the administration of internal controls.
- Internal controls and financial accountability in the public sector
- Compliance with the COSO integrated framework in public sector organizations
- The role of internal controls in detecting errors and frauds
- The effectiveness of internal controls in managing financial resources
- The impact of management staff on the administration of internal control procedures
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter provides an overview of the research problem and its significance, highlighting the importance of internal controls in mitigating financial mismanagement and fraud in the public sector. It also presents the research questions and hypotheses that guide the study.
- Literature Review: This chapter examines the theoretical and conceptual frameworks related to internal control and financial accountability. It explores various definitions and components of internal controls, including preventive, authorization, and detective controls, as well as the role of internal audit in ensuring their effectiveness. The chapter also discusses different perspectives on financial accountability, emphasizing its importance for ensuring transparency and responsible management of public funds.
- Research Methodology: This chapter outlines the research design and methodology employed in the study, including the population, sample size, data collection methods, and statistical tools used to analyze the data.
- Results and Discussion: This chapter presents the findings of the study, analyzing the data collected through the questionnaire and providing a detailed discussion of the results. It examines the effectiveness of internal controls in the Benue State Accountant General Office, evaluating their compliance with the COSO integrated framework and their role in detecting errors, frauds, and managing financial resources. The chapter also explores the influence of management staff on the administration of internal controls.
Schlüsselwörter (Keywords)
This study focuses on the key concepts of internal controls, financial accountability, auditing, public sector, and Nigeria. It examines the application of the COSO integrated framework and its impact on the management of financial resources, error detection, and fraud prevention in the Nigerian public sector. The study also highlights the importance of effective internal control procedures and the potential influence of management staff on their implementation.
- Citar trabajo
- John Joseph (Autor), 2018, Effects of an Internal Control of Financial Accountability in the Nigerian Public Sector, Múnich, GRIN Verlag, https://www.grin.com/document/428186
