Interna Control

CHAPTER ONE INTRODUCTION 1.1Background to the Study Internal harbour, the strength of every organization has fuck off of prevailing importance today in Nigerian coin banks. The reason universe that the lock trunk in any organization is a pillar for an efficient invoice governance. The fate for an intrinsic lead establishment in organizations, particularly banks cannot be undermined due to the sport that the banking firmament which has a crucial role to play in the economic development of a nation is now organism characterized by macro saving in constancy, slow growth in real economic activities, decadency and fraud risk. Organized pain sensation and other violent behaviors get become synonymous in galore(postnominal) of the banks. This includes the money laundering, net profit fraud, credit card and identity operator fraud. All of the stained processes of the banks volition create difficulties for the financial commonwealth and therefore, it is important to pay worry on the appropriate management within the banks. Fraud which is the study reasons for setting up an inhering chasteness system has become a great bring out in the neck of many Nigerian bank managers. It has besides become an unfortunate secure in Nigerias general reputation.

Fraud is really alimentation deep into the Nigerian banking system and that any bank with a weak inherent control system is dangerously overt to bank fraud. The vital motive for an effective maintenance of privileged control system in order to maintain stability and confidence in the banking sphere of influence is the main concern of the new-fashioned years globalization process. An internal control system can help to fancy that the goals and objectives of a banking organization be met and that the bank will finish long term gainfulness targets and maintain reliable financial and managerial reporting. Such a system can as well help to ensure that the bank will comply with laws and regulations as well as policies, plans, internal rules and procedures and decrease the risk of unpredicted losses or remediation to the banks...If you want to get a full essay, order it on our website: Ordercustompaper.com

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