Statement on auditing standard defined internal controls, the whole system of controls, financial and otherwise, established by the management in order to carry on the business of the enterprise orderly efficient manner, ensure adherence to management policies, safeguard the assets and secure as far as possible the completeness and accuracy of the records.
Internal control and good accounting system ensure that controls and operating procedure are functioning efficiently in order to protect the bank from fraudulent manipulations, losses, errors and irregularities.
In view of huge investments by the community development Associations, organizational/societies, individual shareholders should be controlled, safe guarded, and made result yielding venture, The recruitment of a qualified internal auditor acts as a safety value in internal control. In recent times, defalcation, misapplication of depositors funds, inside abuse, theft of properly, and other types of financial improprieties have been found in our banks. Internal control and good accounting structures should assist to eliminate all the vices.
The urgent challenge facing this nation is the eradication of mass poverty.
(1) Banking has been an important economic indicator, spanning over a hundred years in Nigeria.
(2) The history of Community Bank cannot be completed without remembering the former president, Commander in Chief of the Armed Forces, General Ibarhim Badamasi Babangida, on the occasion commissioning of the First Community Bank in the Country Viz Adhere Community limited of the Tundun Wada Community Bank of Kaduna in Kaduna State on 31st December 1990. the speech was unique and Historical, it spelt out to the rural Dwellers:
(a) What are the objectives behind the establishment of the Community Banking system?
(b) Have these objectives been attained
(c) What are the functions of Community banks?
(d) What are the structures of National Board for Community Banks?
(e) What are the internal controls of a Community bank case study Umuchinemere Community Bank?
OTHER SIMILAR ACCOUNTING PROJECTS AND MATERIALS
AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING IN NIGERIA BANKS (A CASE STUDY OF ACCESS BANK)
CHAPTER TWO REVIEW OF RELATED LITERATURE Electronic banking in Nigeria has overtime been viewed by many especially economists as having a lot of implications on the economy of Nigeria and especially...Continue reading »
A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT The study was carried out to analyse how an organization performs making use of the financial statements with First Bank of Nigeria Plc serving as the case study. the study disclosed that th...Continue reading »
AN EVALUATION OF THE PERFORMANCE OF NIGERIAN STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIA ( A CASE STUDY OF NIGERIAN STOCK EXCHANGE)
HISTORICAL BACKGROUND OF THE NIGERIA STOCK EXCHANGE IN THE ECONOMIC DEVELOPMENT OF NIGERIAN. The nigeria stock excahnge denoted by NSE is a government establishment where stocks are traded on a daill...Continue reading »
APPLICATION OF BUDGETS AND BUDGETARY CONTROL MEASURES IN A NON-PROFIT ORGANIZATION: A CASE STUDY OF APOSTOLIC CHURCH, DELTA
2.1 CONCEPTUAL FRAMEWORK A budget is can be defined by accountants as “a planned outcome to be generated and for the expenditure to ensure during that period and the capital to be employed to a...Continue reading »
ASSESSING BOOK-KEEPING PRACTICES OF SMALL AND MEDIUM SCALE ENTERPRISES IN CALABAR LOCAL GOVERNMENT AREA
ABSTRACT The economy of Nigeria cannot function properly or thrive without the micro, small and medium scale enterprises (SMEs). These small scale enterprises cannot function properly if they are not ...Continue reading »
ASSESSMENT OF ADEQUATE RISK RECOGNITION AND MANAGEMENT IN NIGERIAN INSURANCE COMPANIES (A CASE STUDY OF UNION ASSURANCE COMPANY, UYO)
THE CONCEPT OF RISK Risk has been the subject of study by different scholars over the years with several meaning and definitions. But the most accepted definitions are that of J.E Banister and P.A Baw...Continue reading »
What are looking for today?
THE EFFECT OF TREASURY SINGLE ACCOUNT ON THE ECONOMY OF NIGERIA
31,915 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
20,555 people found this useful
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
16,997 people found this useful
PARTY SYSTEM AND NIGERIA POLITICAL DEVELOPMENT
16,828 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
16,593 people found this useful
FACTORS AFFECTING LANGUAGE CHOICE IN A MULTILINGUAL SOCIETY
16,581 people found this useful