An Appraisal of Internal Control System as a Mean of Efficiency and Profitability in the Nigeria Money Deposit (A Case Study of Main Street Bank Nigeria Plc)

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CHAPTER ONE

1.1   INTRODUCTION

         In banking, Accounting and auditing internal control are defined as a process affected by an organization structure, work and authority flow, people and management information system designed to help the banking accomplish specific goals or objectives. It is a means by which an organization resources are directed, monitored and measured. It plays an important role in preventing and detecting fraud and protecting the organization’s resources. Internal control-integrated framework, a widely-used framework in not only the United State but around the world, internal control is broadly defined as a process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories.

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