EFFECTIVE INTERVAL CONTROL MEASURES AS TOOLS FOR TRANPARENCY,
Sold By: Joe Project Store | Item Type: Project Material | Report this? | Attributes: 58 pages | 1-5 chapters | Amount: ₦5,000 | Marked useful: 4,008 times
Delivery: Within 24 hoursEFFECTIVE INTERVAL CONTROL MEASURES AS TOOLS FOR TRANPARENCY, PROBITY AND ACCOUNTABILITY IN THE MANAGEMENT OF PUBLIC RESOURCES:
(A CASE STUDY OF IGBO ETITI LOCAL GOVERNMENT COUNCIL OF ENUGU STATE)
- CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The need for effective internal control measures as tools for transparency, probity and accountability in the management of public resources cannot be over emphasized. This starts from the fact that right from the creation of the world, means in-seniority cannot be compromised. As a result of that, there is need to make rules or laws guiding financial management or internal control for proper discharge of responsibilities.
Thus, internal rules and regulations, financial laws, constitutions, criminal coders, audit Act of 1958, appropriate Act, treasury circulars and Audit circulars, represent steps forwards in trying to control man’s management of public resources.
Corruption in Nigeria has earned for itself official recognition. The level of corruption has become so alarming that Nigeria’s reputation is being denoted abroad. This informs the reasons for the formation of anti-corruption Act by the present government headed by president Olusegun Obasanjo whose seal on the issue assisted in the early drafting of the anti-corruption will which later passed into law, having gone through the legislative process. The law to be cited as prohibition and punishment of bribery, corruption and other related offences act is meant to curb all forms of social, economic, politically corruption that has continually (hinder the growth of the ratio undermine public accountability, transparency and probity in the management of public resources.
The act is to be implemented through independent corrupt practices and Allied offences commission to be headed and composed of men and women of high integrity and transparent honesty to be appointed by the president, subject to the approval of the relational Assembly. However, experience in the past has shown that more often than not, those entrusted with the duty of enforcing or preserving any state law break and undermine such laws. This has been described as ‘Nigerian” factor?
The installation of an efficient internal control mechanism into the public sector management are important steps assuring the general public the accountability and transparency of public officials for their stewardship as custodians of public resources.
1.2 STATEMENT OF PROBLEMS
The term mismanagement, misappropriation, misapplication and embezzlement are synonymous Mismanagement or misappropriate is the unauthorized, improper and unlawful use of fund or other properties for purpose other than that for which it is intended.
To give impression that fraud, embezzlement, misapplication of public fund suit because of lack of internal control, in government as claimed by the conference of the federal and state auditor general in Nigeria in their preface to “exposure daft” on public sector, internal control standard in May 1998 was uncharitable. The internal auditor passes salaries vouchers. Therefore, fraud and mismanagement of fraud does not exist because of absence of internal control but because operators have decided to set the control aside for selfish immediate benefit, irrespective of its consequence to a local government or the nation.
The following are issues, which lead to fraud and misappropriation of local government(s) fund:
1. Borrowing of funds for capital projects, only to be misappropriated by the three wise-men-chairman, secretary and treasurer.
This material content is developed to serve as a GUIDE for students to conduct academic research
Delivery: Within 24 hours
Advertise Here
Not what you were looking for? Perform a search
What's your project topic?
Comment on Facebook:
Related Project Materials
- 1.
INVESTIGATING FORENSIC AUDIT AS A PANACEA FOR PREVENTING CORPORATE FRAUD IN CAMEROON'S PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The proliferation of financial crimes in these developing economies is concerning and catastrophi...More »
Item Type: Project Material | 54 pages | 411 engagements |
- 2.
INTERNAL AUDIT: EXAMINING ITS ROLE IN ENSURING ETHICAL CONDUCT IN CHENWI-ASSOCIATES, CAMEROON
INTERNAL AUDIT: EXAMINING ITS ROLE IN ENSURING ETHICAL CONDUCT IN CHENWI ASSOCIATES, CAMEROON CHAPTER ONE INTRODUCTION Background of the Study Auditin...More »
Item Type: Project Material | 54 pages | 352 engagements |
- 3.
EXTERNAL AUDIT AND QUALITY OF ACCOUNTING AND FINANCIAL INFORMATION IN THE CAMEROONIAN PUBLIC SECTOR
CHAPTER ONE INTRODUCTION 1.1 Background of the study The main purpose of external audit as a governance mechanism is to enhance the accuracy and trust...More »
Item Type: Project Material | 54 pages | 387 engagements |
- 4.
EXAMINING THE ROLE OF FORENSIC AUDIT IN DETECTING FINANCIAL FRAUDS IN THE CAMEROONIAN PUBLIC SECTOR:...
CHAPTER ONE INTRODUCTION 1.1 Background of the study Forensic auditing and forensic accounting are often used interchangeably. It has been officially ...More »
Item Type: Project Material | 54 pages | 355 engagements |
- 5.
EXAMINING THE IMPACT OF THE AUDIT REPORT ON INVESTMENT IN FINANCIAL INSTITUTIONS IN CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study According to the Companies Act, all registered companies must present audited accounts to their s...More »
Item Type: Project Material | 54 pages | 358 engagements |
- 6.
EXAMINATION OF CHALLENGES ENCOUNTERED BY INTERNAL AUDITORS IN PUBLIC SECTOR AUDIT OF CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background of the study The demand for internal auditing mostly arises from the necessity for an independent verification...More »
Item Type: Project Material | 54 pages | 394 engagements |