PROPOSAL
The purpose of this study is to analyze the
effectiveness of the internal control system of the board of internal Revenue
Enugu State.
It cannot be over emphasized here that an
effective internal control system does not
only ensure financial accuracy of transactions, but it reduces trade to
the barest minimum. A good internal control system can only operate in a fairly
large organization that employs a good number of staff.
It is
also important to note that there is high rate of fraudulent practices in
government ministries and parastatals today and the Board of internal revenue is not an exception. That is
why the internal control system must not only be put in place, but is also
having to be effective in removing such irregularities.
Similarly, the research work will be grouped
into five chapters, in which chapter one contains the introduction. This will
give us a skeletal framework of the study and also sub topics such as statement
of the problem and so on.
Chapter two contains the literature review
which will give the details of the topic and also the meaning of the topic.
Chapter three contains the research
methodology and techniques which will show the methods through which the survey
and the sources of data will be carried out.
Chapter four contains the presentation and
the analysis of data which further gives the information suitable.
Chapter five finally contains a workable
recommendation proffered from the findings derived. These findings will help
the management of the board of internal revenue Enugu State to improve on the
effectiveness of their internal control system.
TABLE OF CONTENTS
Title Page
Dedication
Acknowledgement
Proposal
CHAPTER ONE
1.1
Introduction
1.2
Statement of Problem
1.3
Purpose of Study
1.4
Relevance of the Study
1.5
Methodology and Hypothesis Statement
1.6
Scope and Limitation of Study
1.7
Definition of Terms.
CHAPTER TWO
2.1
Introduction
2.2
Organizational Chart
2.3
Personal Income Tax Duties
2.4
Other Revenue Duties
2.5
Planning Research and Statistics
2.6
Administration and Finances
2.7
Relationship between Internal and External Auditor
2.8
Internal Audit as an Effective Internal Control System.
2.9
Factors that will be considered by an external auditor before relying on
the work of the internal auditors
2.10
Audit committee.
2.11
Relationship between the audit committee and the external auditor.
2.12
Essentials of internal control
2.13
Internal check
2.14
Types of internal control system at board of internal revenue Enugu
state
2.15
Areas of work where internal and external auditors overlap at the board
of internal revenue Enugu state.
2.16
Areas of work where internal and external auditors overlap at the board
of internal revenue Enugu state
2.17
Fraud
2.18
Difference between fraud in the organization
2.19
Reference
CHAPTER THREE
3.1
Research methodology
3.2
Primary data
3.3
Validity and reliability of the questionnaire
3.4
Personal interview
3.5
Observations
3.6
Statistical tools and mathematical manipulation
3.7
Research design
3.8
Selection of sample
3.9
References
CHAPTER FOUR
4.1
Introduction
4.2
Field survey
4.3
Presentation and analysis of data
4.4
Section a part of the questionnaire
4.5
Section B part of the questionnaire
4.6
Data analysis
4.7
The procedure for reporting fraud at the board of internal revenue
4.8
Testing of hypothesis
4.9
Hypothesis 1
4.10
Hypothesis 2
4.11
References
CHAPTER FIVE
5.1
Summary
5.2
Recommendations
5.3
Conclusion
5.4
Bibliography
5.5
Appendix
LIST OF TABLES
Table 1.1. Analysis of distribution
collection of questionnaire
Table 1.2 Table of length of service
Table 11.1 Table for question 1
Table 11.2 Table for question 2
Table 11.3 Table for question 3
Table 11.4 Table for question 4
Table 11.5 Table for question 5
Table 11.6 Table for question 6
Table 11.7 Table for question 7
Table 11.8 Table for question 8
Table 11.9 Table for question 9
Table 11.10 Table for question 10
Table 11.11 Table for question 11
Table 11.12 Table for question 12
Table 11.13 (A) Table for question
Table 11.13 (B) Table for question
Table 11.13 © Table for question
Table 11.14 Table for question 14
Table 11.15 Table for question 15
Table 11.16 Table for question 16
Table 11.17 Table for question 17
Table 11.18 Table for question 18
Table 11.19 Table for question 19
Table 11.20 Table for question 20
Table 11.21 Table for question 21
Table 11.22 Table for question 22
Table 11.23(A) Table for question
Table 11.23 (B) Table for question
Table 11.23 © Table for question
Table 11.23(D) Table for question
Table 11.24 Table for question 24
Table 11.25 Table for questions 25.
CHAPTER ONE
1.1
INTRODUCTION
The Institute of Charter Accountants defines
the concept internal control system as “The whole system of control financial
and otherwise established by the management in order to carry on the business
of the enterprise in an orderly and efficient manner, ensure adherence to
management policies, safeguard the assets and secure as fact as possible the
completeness and accuracy check and internal audit” fraud is a threat common to most
organizations. It is a threat to the effective utilization of resources and as
such, it will always remain an important concern to management.
Fraud needs to be deleted and potential fraud
needs to be prevented. Effective internal control system is vital for the
survival of any organization it serves as a check on fraudulent activities of
the management and employees an organization and it brings about solutions to
likely fraudulent acts in an organization.
Management is totally responsible for
establishing the internal control system in an organization.
Auditing today is based on internal control.
A client during the course of financial period so because it is client during
the course of so because it is undesirable for an auditor to carry out a
hundred percent check on all the transactions enters this.
Internal control system is a necessity in
large organizations especially where
management is removed from day to day routine operations of the organization.
Internal control system include controls exercised by management which comprise
of rules and regulations as well as procedures set up by organizations bearing
also the problems set up by organizations bearing in also the problem of
limited resources.
If the internals control system is effective
in an organization, it ensures maximum use of resources and also reduces to the
barest minimum fraud.
The feed for affective internal control
system therefore cannot be over-emphasized. It is important because of the
existence of risks and also all form irregularities in an organizations.ter of
flatly, the major frauds in public and private enterprises can be traced to
lapse in the internal control system and the existence of poor control
environment in organization.