PROPOSAL
Social responsibility consists of
information that guide the goal attainment of a business firm. It is therefore
our sincere desire to look into goal attainment of business activities. This
study will also lay emphasis on effective goal attainment. Obviously, without
goals attainment success is not certain in any Business Firm. This study will
also help to proffer directions to any Organization target, the knowledge of
events only on the business is accepted in the social responsibilities. In
addition, this research will also help the orphan to know the goal attainment
technique and approaches to use in attainment in their firms. Especially, the
study shall attempt to achieve various Objectives certainly this study will
enable the goal attainments options available to them since most of the
knowledge or various goals attainment technique to handle a firm. This research
work will consist of five Chapters, as follows where Chapter one give the full
Introduction of the study, significance of the study, limitation of the study,
definitions of the term. Chapter two literature review, the concept of internal
control, highlights of the definition, Objective of Internal control system,
effectiveness of Internal control system of International brewery Company
Ilesha, limitation of Internal system in International brewery Plc Ilesha, Osun
Stated contribution of EDP based on administrative Environment. Chapter Three
Research methodology, Data collection sources, the population and sample size
of the study, Research Instrument, method of Data analysis. Chapter Four. Data
analysis and Interpretation, Data Analysis, test Hypothesis, Research Findings,
Chapter Five Summary, Conclusion and Recommendation.
TABLE OF CONTENTS
CHAPTER ONE
1.1 Introduction 1
1.2 Statement of the problem 4
1.3 Objective of the study 5
1.4 Scope of the study 6
1.5 Significance of the study 6
1.6 Limitation of the study 7
1.7 Definition of terms 7
CHAPTER TWO: LITERATURE
REVIEW
2.1 The Concept of Internal Control 9
2.2 Highlights of the Definition 9
2.3 Objective of the Internal Control System 14
2.4 Effectiveness
of Internal Control System of International Brewery Company Ilesha 19
2.5 Limitation of Internal Control System of
International Brewery Plc Ilesha Osun State 20
2.6 Contribution
of EDP based on Administrative
Environment 22
CHAPTER THREE:
3.0
Research methodology 26
3.1 Data collection sources 27
3.2 The Population and Sample Size of the Study 28
3.3 Research Instrument 29
3.4 Sampling techniques 29
3.5 Method of Data Analysis 30
CHAPTER FOUR: DATA
ANALYSIS AND INTERPRETATION
4.1 Data Analysis 32
4.2 Test of Hypothesis 40
4.3 Research Finding 44
CHAPTER FIVE: SUMMARY,
CONCLUSION AND RECOMMENDATION
5.1 Summary 46
5.2 Conclusion 47
5.3 Recommendations 48
Appendix
Questionnaire
Reference
CHAPTER ONE
1.1 INTRODUCTION TO THE
STUDY
The main effectiveness in the management of any
organization is growth and survival of the business in a competitive world
market, which is also aids the maximizing the wealth of owners.
In order to maintain these standards, the management
must place system or technique. The system or techniques instituted by the
management to enhance the laid down guidelines and policies set up by the
management in order to attain the corporate goals of the organization is termed
internal control system, which is an embodiment of internal audit, can be
defined as, “the whole system of control both financial and otherwise
established by management in order to carrying the business of the company in
an orderly and efficient manner, ensure adherence to, management polices
safeguard the assets and secure as far as possible the completeness accuracy
and validity of books and records of an company.
However, internal control involves various methods
and procedure adopted in an organization with a view to safeguarding its assets
to promote greater efficiency in operation to carry out effectively the general
policies as laid down by the management and to ensure that the accounting and
statistical data produced are reliable and accurate.
The essence of the quality of internal in modern day
auditing can be compared to that of the foundation work of a house.
The house rest secure and it foundation and modern
auditing depends in the same way upon internal control.
A sound internal system is vital to the management
and auditors alike, because experience has shown that any deficiency in it
leads eventuality to chaos within the organization.
Today, the concept of internal has assumed greater
dimension:
It is the nerve system of very business which
controls all the operations and polices of business, financial and otherwise.
The control is strictly supervised by the internal
audit department through its staff and generally for effectiveness. Internal
auditor is given a measure of independence to enables them carry out their work
satisfactory and also to enables them report directly to the chief executive of
the organization.
The entire internal controls of international
Brewery Plc Ilesha are usually divided into divisions and they have joint
objectives fraud in the company.
·
Preventing fraud in the
company
·
To provide reliable
efficiency
·
Safeguarding the assets
and records of the company
·
To encourage adherence
to prescribed policies and directives of the company.
However, the problems and prospects of internal
control system international Brewery Plc, Ilesha is the focus of this research
with some responsibility entrusted in to the hands of internal audit personnel
in the Brewery Industry.
1.2 STATEMENTS
OF THE PROBLEM
The complicated system of checks and counter check
that tends to hamper efficiency and timelines of all system in the brewery
industry has been attributed to the old and out dated regulations.
An incompetence of some personnel or hiring of
unqualified hands in the performance of audit and records duties. This pertly
explains why some brewery industries are not making profit (poor turnover). All
these and others are factors that forced many organizations to liquidate.
1.3 OBJECTIVES OF THE
STUDY
The main objectives of this study can be summarized
as follows:
·
To examine the
soundness of internal control system in international brewery plc, Ilesa.
·
To determines the factors
responsible for ineffective internal control system in manufacturing companies.
·
To undertake an in
depth study of the mode or nature of pilferage and frauds that are perpetrated
in manufacturing companies with special reference to international Brewery Plc
Ilesa.
1.4 SCOPE OF THE STUDY
The study will cover an in-depth explanation of what
internal control is and the general impact of sound internal control system has
contributed to the one the growth and survival of the international Brewery
company, ilesa.
1.5 SIGNIFICANCE
OF THE STUDY.
The research work would be of great important most
especially to the company chosen as the case study and other manufacturing
companies. Also the researchers believe is going to be of great help on
adjusting the existing system and improve on it. In addition in the above,
future researchers and students generally would benefit from the study.
1.6 LIMITATION
TO THE STUDY
The major limitation to this research is as a result
of lack of data in the organization.
The lack of sufficient books and distance also there
is no enough time for carryout the research which constitute to the hindrance.
Also not all information are released for the fear
of revealing the company secret and difficulties ion gaining access to
organization literature and annual report.
1.7 DEFINITION OF TERMS
The auditing guidance on internal control defines
internal control thus:
INTERNAL CONTROL
SYSTEM: this is whole system of controls,
financial or otherwise, which 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 safeguarding the assets and secure as far as
possible the completeness and accuracy of the records, the individuals
components of internal system are know as controls.
Some authors from USA explained internal control as
the system within a company consisting of its plan organization, the assignment
of duties and responsibilities, the design of business and reports all measures
and methods employed.
a.
To protect its assets:
b. To
promote and judge the operational efficiency of all aspect of the company
activities.
c.
To encourage the
accuracy and reliability of business studies and other operating data and
reports.
TERMS:
Is a mathematical expression which may form a separable part of a equation
series or another expression.
ORGANIZATION:
Is a social unit of people systematically structured and managed to meet a need
or to purse collective.
CONTROL SYSTEM;
is a device, or set of devices to many command direct or requite the behavior.
PRODUCTION:
Can be define as the transformation of raw materials into finished goods to
satisfy human want.
COMPANY:
Can be defined as an organization of people in group of business in effort to
make money.
EMPLOYEE:
Can be defined as the process of people that looking for job in essence of the
company for more progress.