Internal audit - an effective tool for fraud control in a manufacturing organization - a study of Michelle Laboratory Plc Department: Accountancy By: bapatigi7954 Project ID: 4509 Rating: (3.0) votes: 5Rate this project12345 Price:₦2000 Get the Complete MaterialAbstractThis study, internal audit an effective tool for fraud control in a manufacturing organization. The effectiveness of the internal audit was carefully examined and the aim of the study is to ascertain the contribution of internal audit in fraud prevention in a manufacturing organization, to evaluate the contribution of internal audit in fraud detection in a manufacturing organization, to evaluate the contribution of internal audit in fraud remediation in a manufacturing organization. The survey research design was adopted and a sample size of eight (8) was gotten using Taro Yamane's 1964 formula out of the population of eight (8) staff in Michelle laboratory Enugu. In determining the number of questionnaires administered to the respondents, stratified random sampling and the Kumar proportionate were adopted. The data for the study was gathered with a four-point Likert scale questionnaire. The study revealed that internal audit has statistical significance association on fraud prevention in manufacturing organization, also that internal audit has statistical significance association on fraud detection in manufacturing organization and finally, internal audit has no statistically significant association on fraud remediation in a manufacturing organization. The study concludes the failure of the management to adopt the services of the internal auditor in an organization can lead to fraud, loss of finance and lack of accountability. The study recommends that since services of a qualified internal auditor have statistical association on fraud prevention, detection and remediation in manufacturing company, management should always adopt the services of the Internal auditors in the firm so as to ensure no financial leakages and accountability in the firm. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Auditing in Nigeria companies, problems and prospects»The effects of computerized accounting system on the performance of banking industry in Nigeria»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»Effect of misrepresentation of information in a financial statement»The impact of development finance institutions (DFIS) in economic development of Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )