The effect of internal control on revenue generation Department: Accountancy By: Raheemmuhammad Project ID: 5268 Rating: (3.3) votes: 6Rate this project12345 Price:₦4000 Get the Complete MaterialAbstractThe objective of this study was to evaluate the internal control system in operation at the Public sector (Ministry of Finance, Zamfara) with a view to knowing its actual revenue generation in the slate. A sample of 100 was selected for the study randomly the questionnaires were used in gathering the primary data while secondary data were collected from the work of others in the form of literature review. The data collected were analyzed using the chi-square (x2) as the statistic tool to determine the valuation of the hypothesis. The findings concluded that weak internal control system encourages collusion fraud, loss of revenue, embezzlement and computation. The study found out that ICS contributes to revenue generation in the public sector. Ministry of Finance plays a number of roles in supporting the systems by ensuring all documents are authentic, correct and confirm that the relevant officers have signed all documents before processing to prevent misappropriation of revenues. The ministry has formalized policies and procedures for all activities which allow for good and efficient communication, control and monitoring of activities. All employees understand the concept and importance of internal controls including the division of responsibility. Accounting records arc limited to employees with designated responsibility for such records. ...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 )