ABSTRACT
All investigation using samples are aimed at discovering some things about a particular population. The success of any sample lies in the accuracy with which it reflects the true state of affairs in the whole population. It is however known that it is highly impossible that such reflection would be 100% accurate when we draw a random sample, we hope that it would be representative of the relevant characteristics of the population, but there is no guaranteed since we can never be hundred percent sure. The management can usually best discharge these responsibilities by installing a system for the production of reliable management information, adequate financial reports, prevention of errors and detection of fraud and loss of banks asset. In this study, the research will review the concept of the internal control system and the crucial role it plays in the country. This research also defines the role of internal control system in the bank and takes an in-depth look into the day-to-day activities and dealing of First Bank of Nigeria Plc. It is a known fact today that most companies function effectively or if they fail to function effectively, their glory or ordeal rested on management acumen. This implies that effective and efficient management of any organization is the pre-requisite for the success of such organization, be it banking industry, manufacturing or service organization. In view of the above, the need for effective institution and operation of good internal control system arises.
TABLE OF CONTENTS
Title pagei
Certificationii
Dedication iii
Acknowledgementiv
Abstractv
Table of Contentsvi
CHAPTER ONE: INTRODUCTION
1.1Background of the study1
1.2Purpose of the study2
1.3Significance of the study2
1.4Statement of problems3
1.5Research questions3
1.6Statement of hypothesis4
1.7Scope and limitation of the study 4
1.8Historical background of First Bank of Nigeria Plc5
1.9Definition of terms6
References 8
CHAPTER TWO: LITERATURE REVIEW
2.0Introduction 9
2.1Definition of internal control 9
2.2Strong and effective internal control
and revenue assurance 11
2.3Division of internal control 12
2.4Objectives and importance of internal control 17
2.5Limitation of internal control 18
2.6Risk management framework internal control 20
2.7Governance responsibilities of internal
control in the bank 21
2.8Definition of fraud 21
2.9Fraud management objectives 22
2.10Components of internal control 22
References26
CHAPTER THREE: RESEARCH METHODOLOGY
3.0Introduction27
3.1Research design27
3.2Data collection method28
3.2.1Purpose of internal control questionnaire28
3.3Population characteristics29
3.3.1Internal control section29
3.3.2Fund transfer section29
3.4Sample size29
3.5Sampling procedure30
3.6Reliability of the data30
3.7Sources of data 30
3.8Method of analysis31
3.9Limitation of methodology 31
References 32
CHAPTER FOUR: DATA ANALYSIS AND INTERPRETATION
4.1Introduction33
4.2Data analysis and interpretation33
4.2.1Presentation of data analysis33
4.3Restatement and testing of the hypothesis39
4.4Limitations and constraints46
4.5Discussion of findings46
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1Summary 48
5.2Conclusion49
5.3Recommendation50
Bibliography51
Questionnaire52