"The Impact Of Internal Control System In The Nigerian Banking Industry A Case Study Of Some Selected Organization" Essays and Research Papers

  • The Impact Of Internal Control System In The Nigerian Banking Industry A Case Study Of Some Selected Organization

    Topic: The impact of activity-based costing on banking industry performance Activity-based costing (ABC) gives a true cost for the bank compared to traditional costing, which allocates most of the expenses. Banking has become very competitive, and it has become imperative that banks like any other businesses allocate their resources to the most profitable areas.  For banking industry, in particular, the potential benefits of activity-based costing (ABC) implementation can be numerous. These include...

    Bank, Banking, Cheque 836  Words | 3  Pages

  • Information and Communication Technology (Ict) and Banking Industry

    Technology (ICT) and Banking Industry Alawode, Ademola John+ Emmanuel Uche Kaka** * Department of Computer Science, Federal Polytechnic Ilaro, Ogun State, Nigeria ** First Bank Nigeria PLC, Ahoada Branch, Rivers State, Nigeria. Abstract Information and Communication Technology, the language of the new age and its grammar which is Science has become an indispensable and veritable tool for enhancing effectiveness and efficiency in all other aspects of life. Banking industry has learnt the grammar...

    Bank, Credit union, Information technology 2391  Words | 7  Pages

  • Case Study 2 Internal Control System

    Week 5 Case Study 2, Internal Control System. By Elias Hane Ehane2000@yahoo.com Cell: 786-488-8109 ACCT 504: Financial Accounting Submitted To: Professor Mario Perez Keller Graduate School of Management DeVry University - Miramar Campus Miramar, Florida MPEREZ@devry.net December 5, 2012 Table of Contents Page Presentation………………………………………………………………………………….1 Introduction Overview of the situation….……………………………………………………………...

    Control engineering, Control system, Control theory 858  Words | 4  Pages

  • Effect of Technological Advancement in Internal Control

    and enhanced educational system. Dilemma from almost all fields was given solution through careful study and analysis. Examples such as advanced DNA manipulations which allows scientist to create life with sets of conditions, development of super fast bullet trains for faster mobility, transmittal of information and knowledge through internet and social cyberspace which brought improved business communication and dealings. In particular, innovation has a great impact in the Business world. Creation...

    Bank, Control engineering, Control system 1152  Words | 4  Pages

  • Case Study 2 Internal Control

    acct 504 | MANAGERIAL USE ANLYSIS | CASE STUDY 2 INTERNAL CONTROL | 12/1/2012 | Case Study 2 Internal Control . A requirement is important to know that all publicly traded U.S. corporations are required to maintain an adequate system of internal controls and procedures for financial reporting in accordance with the Sarbanes-Oxley Act Section 404. It is the responsibility of your executives to ensure there are dependable and effective controls in place, and auditors from outside the...

    Auditing, Best practice, Committee of Sponsoring Organizations of the Treadway Commission 810  Words | 3  Pages

  • Impact of Internal Control System in Banking Sector in Ghana

    OF BUSINESS AND TECHNOLOGY A RESEARCH PROPOSAL TOPIC: THE ANALYSIS OF OFFSHORE BANKING AND ITS EFFECT ON TAXATION NAME: INDEX NO#: CIBT/BAMS/09/ DATE: 2ND NOVEMBER 2012 INTRODUCTION Offshore banks are banks wherein a majority of their depositors are located in a jurisdiction outside their own country. Unlike is the modern perception these banks are not only located in the smaller tax havens, but some of the bigger countries like the United States and Hong Kong also have banks which...

    Bank, Banking in Switzerland, Finance 1072  Words | 4  Pages

  • Information System

    4.4 Information Systems for the Banking & Financial Sector: Audit is one of the major controls for monitoring management activities in the banks and financial institutions. In a computerized environment, IS audit is a very effective and necessary activity. Usually the IT implementation in the banking and financial organizations is done by adopting a mix of different methodologies – internal development and deployment and third party product development and deployment. In case of internally developed...

    Audit, Bank, Branch 1514  Words | 4  Pages

  • Case Study 2 – Internal Control

    Case Study 2 – Internal Control TO: LJB Company President FROM: Accounting Firm DATE: August 12, 2012 SUBJECT: Internal Control It is with great pleasure that we can provide you information and advisement on internal controls that will assist LJB Company with going public. We understand that you have communicated your concerns and expect that this report will assist you with deriving conclusions. This report will: 1. Inform you of any new internal control requirements in reference to going...

    American films, Asset, Committee of Sponsoring Organizations of the Treadway Commission 736  Words | 3  Pages

  • Case Study 2- Internal Controls

    Good corporate governance within an organization may make a company more attractive to potential buyers, investors, and other capital sources. Under SOX Section 404, all publicly traded U.S. corporations are required to maintain an adequate system of internal controls. Corporate executives and boards of directors must ensure that these controls are both reliable and effective. Public Offering The transformation of going from a private to public requires some extensive planning and preparation...

    Auditing, Cash, Cash register 1386  Words | 5  Pages

  • Internal Control Case Study

    LJB Company’s Internal Control Recommendation Report February 2012 Prepared for: LJB Company President Finance Department Prepared by: Cauretta Bell Recommendation Report 2012 It is my immense pleasure to report and evaluate the findings of the internal control procedures to the President of LJB Company regarding recommended changes for the organization to utilize internal control requirements. We will provide useful recommendation so that LJB Company will be fully prepared to go public...

    Audit, Cash, Employment 2167  Words | 7  Pages

  • Internal Control and Accounting Systems

    Internal Control and Accounting Systems Learning Area Overview Welcome to this learning area overview for Internal Control and Accounting Systems, prepared by AAT. In this overview we’ll explain what Internal Control and Accounting Systems is all about, and how it fits into the bigger picture of the AAT Accounting Qualification. We’ll explore the main topics you can expect to cover, and how the knowledge and skills you’ll pick up will be of practical use to you in the workplace. Finally, we’ll...

    Audit, Auditing, Better 906  Words | 3  Pages

  • Projects: Bank and Case Study

    THE BANKING SECTORS ISSUES, PROBLEMS AND PROSPECTS (A CASE STUDY OF UNION BANK NIG PLC) 2. ACCOUNTING SYSTEM OF CO-OPERATIVE SOCIETIES IN ENUGU NORTH LOCAL GOVERNMENT AREA 3. THE ROLE OF AN ACCOUNTANT IN THE POVERTY ALLEVIATION PROGRAMME OF THE FEDERAL GOVERNMENT (A CASE STUDY OF ENUGU NORTH LOCAL GOVERNMENT AREA). 4. FINANCIAL STATEMENT: A TOOL FOR EVALUATING PERFORMANCE OF COMPANIES AND INVESTMENT DECISION WITH REFERENCE TO BEING AND BOWS NIGERIA LIMITED 5. THE IMPACT OF...

    Bank, Decision making, Enugu 52644  Words | 258  Pages

  • Case study 2 - Internal Control

    Case Study 2 – Internal Control 1. Inform the President of any new internal control requirements if the company decides to go public. As per the accident that happened in the company about some employees was viewing pornography on company computer and he had a hard time to get his employees admitted that they were the one who doing it. He should use limit access by individual passwords for each person to log in the computer systems. To make sure that which person was log on in the computer...

    Computer, Control theory, English-language films 750  Words | 2  Pages

  • Justification for an Internal Control System

    Justification for an Internal Control System Organizations that do not have the proper internal controls tend to deteriorate over time. Therefore, companies should incorporate effective internal control systems to accompany other risk management approaches like insurance and risk portfolio. Internal Control Systems can provide an additional reference tool for organizations to identify and assess operating controls, financial reporting, and regulatory compliance processes and to formulate preventive...

    Committee of Sponsoring Organizations of the Treadway Commission, Control engineering, Control system 545  Words | 3  Pages

  • Management Control System in Para Banking Activities

    MANAGEMENT CONTROL SYSTEM IN PARA BANKING ACTIVITIES Introduction of Para Banking Activities: Para Banking is a kind of banking where money is accepted for the purpose of saving from an individual as in case of a normal banking function. The acceptance of money under Para Banking is scheduled daily, monthly, quarterly, half yearly, yearly and even for fixed period for more than 1 year. Activities like accepting deposits and lending to corporate sell mutual funds demat a/c, gold, insurance etc...

    Bank, Bond, Finance 2348  Words | 7  Pages

  • Internal Control System

    Moorehead-Floyd XACC 280 May 22, 2011 Kevin Hickey The two primary goals of an internal control system are to safeguard assets and manage resources. This action by the organization, reasonably ensure that their specific goals and objectives will be met within compliance. This system consist of policies, measures and procedures designed to assist management with protecting the organization against waste, preventing and detecting fraud, inconsistencies, inadequacy, ineffectiveness, reliable...

    Accounting scandals, Control system, Enron 934  Words | 4  Pages

  • Case study: on costing systems and cost control

    Lorson Manufacturing Company Case Study Executive Summary Lorson Manufacturing Company is actively seeking to implement tighter cost control measures in an industry that is largely governed by prices. The purpose of this report is to present and analyse a new costing system proposed by Mr. Jan Lorson for the valve department of the company, and compare it to the existing system, in order to judge whether to go forward with its implementation. The analysis uses a number of examples to highlight...

    Cost, Cost accounting, Cost overrun 1822  Words | 7  Pages

  • Software Deployment in Nigerian Banks

    The Dirty Deals between Nigerian Banks and Software Vendors Information technology managers of many of the Nigerian banks and their collaborators smile to their various bank accounts each time they implement new banking software for their organisations. BusinessWorld Intelligent unit, in this reports, unearth the new wave of bribery and corruption among the IT departments of Nigerian banks. …………………………………………………………………. Wherever money changes hands, crooks and embezzlers are sure to be close...

    Bank, Banking, Central bank 1635  Words | 5  Pages

  • The Internet Banking Project in Industrial and Commercial Bank of China (Shanghai)

    This paper studies endogenous diffusion and impact of a cost-saving technological innovation -- Internet Banking. The bank understudy i.e. ICBC has efficiently embarked on its internet based private banking service. The vice director of e-banking felt that the entire project was an accomplishment in terms of its schema and satisfactory quality. Here is this case he needs to expound the understandings and the lessons internalized along the entire course of the project. Moreover, there were various...

    Agricultural Bank of China, Bank, Credit union 1084  Words | 4  Pages

  • Justification for an Internal Control System

    Justification for an Internal Control System Frank Harling ACC/544 April 2, 2012 Christian Yang Justification for an Internal Control System Working as the controller for this company I am accountable for all of the accounting operations, which includes the creating of financial reports, maintenance of the accounting system that house the accounting data, and set internal controls to mitigate risk and enhance the accuracy of the reports. The company’s leadership has approached me with questions...

    Actuarial science, Insurance, Internal control 843  Words | 3  Pages

  • Impact of Computer in Banking System in Nigeria

    the impact of computer services in banking industries (Cache) (Images) (Similar) http://www.scribd.com/doc/14194263/the-impact-of-computer-services-in-banking-industries- The research has critically examined then influence of computer on modern banking system in Nigeria. The finding of this research has show that computer has ... The Role of Computer in Enhancing Banking (Cache) (Images) (Similar) http://www.scribd.com/doc/27530168/The-Role-of-Computer-in-Enhancing-Banking However...

    Bank, Computer, Computer graphics 2690  Words | 9  Pages

  • Investment Behaviour of Nigerian Proposal

    RESEARCH PROPOSAL: INVESTMENT BEHAVIOUR OF PUBLIC AND PRIVATE SECTORS IN NIGERIA 1.1 Introduction 1.2 Literature Review 1.3 Statement of the Research Problem 1.4 Objectives of the Study 1.5 Scope of the Study 1.6 Significance of the Study 1.7 Hypothesis 1.8 Research Design 1.9 Sample and Sampling Techniques 2.0 Reference List 1.1 Introduction Investment choice is often wide and as varied as the different strata of society itself. It ranges from short term to long term. It...

    Capital, Capital accumulation, Corporate finance 2226  Words | 7  Pages

  • Internal Control in Organizations

    Internal Control Internal control is an integral part of an organization’s governance system and ability to manage risk, which is understood, effected, and actively monitored by the governing body, management, and other personnel to take advantage of the opportunities and to counter the threats to achieving the organization’s objectives (IFAC 2012). Arad & Philee (2013) define internal control as “the integration of the activities, plans, attitudes, policies, and efforts of the...

    Application software, Computer software, Control theory 607  Words | 3  Pages

  • The Relationship Between Systematic Risk and Profitability : a Case Study of Selected Banking Institutions in Sri Lanka

    Relationship between Systematic Risk and Profitability : A Case Study of Selected Banking Institutions in Sri Lanka Research proposal submitted by: Mr. Kanapathippillai Kiritharan Reg.No-2009/BAD/040 Research proposal submitted by: Mr. Kanapathippillai Kiritharan Reg.No-2009/BAD/040 Department of Accounting Faculty of management studies and commerce University of Jaffna 2013 Department of Accounting Faculty of management studies and commerce University of Jaffna 2013 Table...

    Bank, Capital asset pricing model, Capital structure 1511  Words | 7  Pages

  • Internal Controls System

    THE INTERNAL CONTROL SYSTEM The internal control system includes all the strategies, policies and procedures adopted or instituted by the management of an entity to assist in their objective achieving as far as practicable, the orderly and efficient conduct of the business and includes adherence and compliance to management policies and applicable laws and regulations; the safeguarding of assets; the prevention and detection of fraud and error, the accuracy, reliability and completeness of the accounting...

    Accounting software, Audit, Authorization 1991  Words | 6  Pages

  • Management Control System Design

    literature regarding the development and structure of management control systems. It categorizes the literature by topic: meaning of MCS, outcomes of MCS, and contextual variables including external environment, technology, organizational structure, size, strategy, and national culture. The paper provides a thorough review of studies that examine these topics. Additionally, Chenhall provides recommendations for future research. The study limits its focus to contingency-based theories developed from...

    Control, Formal, Formal methods 1491  Words | 7  Pages

  • Internal Control and Fraud Detection in the Banking Industry (a Case Study of Guarantee Trust Bank Plc)

    INTERNAL CONTROL AND FRAUD DETECTION IN THE BANKING INDUSTRY (A CASE STUDY OF GUARANTEE TRUST BANK PLC) BY OGUNDELE GBONJUBOLA 06271184 BEING A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY OF MANAGEMENT SCIENCES, UNIVERSITY OF ABUJA, ABUJA, NIGERIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.SC) HONOURS DEGREE IN ACCOUNTING JANUARY, 2011 DECLARATION Apart from references of other people’s...

    Bank, Bank fraud, Control theory 11139  Words | 41  Pages

  • Case Study 2 - Internal Control

    Case Study Two Name Accounting and Finance 02Feb2011 Dear President of LJB Company, (1) If the LJB Company should decide to become a publicly traded company, a few internal controls should be implemented to comply with the Sarbanes-Oxley Act (SOX). * Management will need to provide periodic quarterly reports to evaluate the effectiveness and reliability of LJB’s internal controls over financial reporting procedures. * Management should certify the accuracy and fairness of presentation...

    Audit, Cash, Enron 724  Words | 3  Pages

  • Critically Evaluate the Impact of Globalization on Management Control System

    Critically Evaluate the Impact of Globalization on Management Control System Management control is the process by which managers assure that resources are obtained and used effectively and efficiently in the accomplishment of the organization’s objectives (Berry, Broadbent & Otley 1995). The purpose of a management control system is to encourage managers to take actions that are in the best interest of the company. Technically, this purpose can be described as goal congruence. It is also ensure...

    Business, Control, Control theory 2063  Words | 7  Pages

  • Literature Review on Internal Control System

    Internal control can be described as any action taken by an organization to help enhance the likelihood that the objectives of the organization will be achieved. The definition of internal control has evolved over recent years as different internal control models have been developed. This article will describe these models, present the definitions of internal control they provide, and indicate the components of internal control. Various parties responsible for and affected by internal control will...

    Audit, Auditing, Committee of Sponsoring Organizations of the Treadway Commission 1766  Words | 6  Pages

  • Case Study - Management Control System

    Division In particular how important is cost control? I think, factors determine the success or failure are: a. Technical/Operational: Good performance of the melt shop, as this melt shop is the bottleneck of the system, output from this process determine the output of plan as a whole Control of the conversion cost in the melt shop (labor, energy usage) as they accounted 40% of the total conversion cost in the plant Good maintenance as well as control of its maintenance cost since cost of maintenance...

    Better, Control, Costs 1432  Words | 5  Pages

  • External environment for banking industry

    Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalization. It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, custody, foreign exchange, debt capital markets...

    Bank, Banking, Commercial bank 1688  Words | 6  Pages

  • Case Study On Listo System

     Case Study on Listo System Smriti Rajbhandari ID No: 14-S-3016 International American University MGT500: Organizational Behavior and Leadership Course Coordinator: Mr. Roshan Koirala May 10, 2014 Listo System Listo System, established in 1990, is one world’s top graphic service companies. It was launched when technological advancement were increasing and creating more competitive market. The company was successful to grow quickly into one of the top graphic service companies in the world. Listo...

    Cognition, Cognitive dissonance, Psychology 1732  Words | 10  Pages

  • Impact of Modes of Communication on Performance of Organization

    REASEARCH PROJECT ON A STUDY OF THE EFFECT OF MODES OF COMMUNICATION ON PERFORMANCE IN THE BANKING INDUSTRY USING STANDARD CHARTERED BANK AS CASE STUDY. INTRODUCTION Background to the study. Although the content of corporate communications within the organization has remained fairly constant through the years, technology has improved the way management and employees keep in touch with each other. Almost all companies of any size have some regular method of keeping...

    Communication, Communication studies, International Communication Association 1282  Words | 5  Pages

  • Dbm Case Study

    Case 1 How general Motors is collaborating online 1) For any Car manufacturing industries needs to go through a frontal crash test. General Motors had also builds prototypes which cost around million dollars for each car and test how they react to frontal crash.GM crashes these cars, makes improvements, then make new prototypes and crashes them again. By these crashes GM gets many information for their new design and test results, which they have to share it among around 20000 designers and engineers...

    Bluetooth, Cost-benefit analysis, General Motors 1417  Words | 4  Pages

  • Retention Strategies in Post Consolidation Banking Industry in Nigeria (a Case Study of First Bank Nigeria Plc)

    CHAPTER ONE Introduction The Nigerian banking industry is one of the most dynamic and competitive industries in the Country. The banking industry has transformed rapidly in the last ten years, shifting from transactional and customer service-oriented to an increasingly aggressive environment in which competition for revenue is top priority. The Nigerian Bank can now fit into the global definition of bank. Consolidation of the Nigerian Banking sector is one of many reforms of the Gen. Obasanjo's...

    Bank, Banking, Cheque 1350  Words | 5  Pages

  • Characteristics of an Effective System of Internal Control

    Characteristics of an Effective System of Internal Control 

1.) In accounting systems, certain controls are needed to ensure that employees are doing their jobs properly and ensure that the system runs properly. These checks are in the best interest of the organization. These controls come in the form of internal controls for the system. The internal controls are the checks that are placed in the system by the company's own management to prevent the intentional misrepresentation of financial data...

    Audit, Auditing, Deposit account 1580  Words | 5  Pages

  • Effect of Level of Current Assets on the Performance of Banking Industry

    EFFECT OF LEVEL OF CURRENT ASSETS ON THE PERFORMANCE OF BANKING INDUSTRY Abstract: The purpose of this study is to analyze the effect of variables on the profitability of Commercial banks. The data used is from the financial statement of the selected Banks (here, ING Vysya Bank and Kotak Mahindra Bank) for the year 2008 to 2012. Analysis Techniques used are the Correlation and Regression analysis which shows the result of impact on each variable on the profitability of each bank. Introduction: ...

    Asset, Balance sheet, Bank 1730  Words | 5  Pages

  • Acct504 Case Study 2

    Case Study 2: Internal Control Table of Contents Introduction Part 1: Internal Control Requirements Part 2: What the Company is Doing Right Part 3: What the Company is Doing Wrong Conclusion Works Cited Introduction The LBJ Company is currently making a decision to go public or not and with that The LBJ Company will also need to become knowledgeable about their internal controls within their systems, specifically in regards to Accounting and also Human Resources and how it will affect...

    Accountancy, Asset, Balance sheet 1957  Words | 7  Pages

  • Amyris Bioechnologies Case Study

    Self-administered case study The internal environment ‐  THE STARTING POINT FOR  STRATEGY FORMULATION Case summary: Case duration (Min): Strategic Management (SM) Organizational Behaviour (OB) The internal environment Organization culture 45-60 Worldwide Business success can be realized by focussing on the organization, rather than the external business environment.  Aside from a need to be aware of the external environment, the manager must also know the internal business  environ...

    Management, Organization, Organizational culture 2563  Words | 5  Pages

  • A Study of Recruitment & Selection Process in Bank

    A STUDY OF RECRUITMENT & SELECTION PROCESS IN BANK A project proposal (synopsis) report submitted in partial fulfillment of the requirements of the award of the degree of MASTER OF BUSINESS ADMINISTRATION (MBA) From Guide: Dr.Nitin G.Vighne By: PRN. No.:- 200801737737 Study Centre No.:-44175 *SESSION: 2009*-10 To YASHWANTRAO CHAVAN OPEN UNIVERSITY, NASHIK (M.S.) Title: A STUDY OF RECRUITMENT & SELECTION PROCESS IN BANK Without a sound and effective banking...

    Bank, Banks of India, Employment 1119  Words | 4  Pages

  • Internal Control

    Case Study 2 – Internal Control 1. Inform the president of any new internal control requirements if the company decides to go public Each of the five components of an internal control system is important. Let us focus on the control activities. These activities are the backbone of the company’s efforts to address the risks it faces, such as fraud. The specific control activities used by a company will vary depending on management’s assessments of the risks faced. The six principles of control...

    Control engineering, Control system, Employment 1587  Words | 5  Pages

  • Case Study Analysis

    | Case study analysis | Executive Summary This is an analyst of a case study called ‘Crisis control’. Based on the case study, some issues have been identified as Non-HR issues and the others as HR issues. The global financial crisis, the increase demand for servicing and the serious problem of cash flow are the non- HR issues. On the other hand, HR issues are work imbalance, protect human capital, downsizing, restructure the organization. After identified the issues from the case study...

    Human resource management, Human resources, Management 1877  Words | 5  Pages

  • Influence of Information systems at Human Resource for Organizational Performance

    Title: Influence of Information systems at Human Resource for Organizational Performance; A case study on Commercial Bank Finance PLC Introduction This research investigates the influence of Information system at Human Resource and what are their impacts on organizational performance. Organizations are moving faster towards the Information Technology and adapt more and more advancements of Information Technologies. In today’s context none of the organization can survive without Information technology...

    Bank, Competition, Economics 826  Words | 3  Pages

  • Organization Behavior Case Study

    Communication is the process of information exchange between two and more than two individuals or organizations (Bowditch and Buono, 1997, cited by Anotony and Macvicar, 2011: 106). In general, communication process could be divided into two forms, verbal and non-verbal (Buchanan and Huczynski, 2010). Verbal communication includes oral and written, non-verbal communication includes body language and eye contact (ibid.). Because of the development of technologies, especially the progress of internet...

    ACRISS Car Classification Code, Car rental, Car rental companies 1881  Words | 7  Pages

  • Internal Control System Brief

    Justification for an Internal Control System ACC/544 April 22, 2013 Christine Errico Justification for an Internal Control System Over the past years many organizations have fallen because of inadequate financial reporting and ineffective controls. To overcome this dilemma, the creation of the Sarbanes Oxley Act (SOX) of 2002 requires corporations to take full control over its financial reporting and accounting by placing internal controls within its organization. Internal controls not only establish...

    Decision theory, Insurance, Internal control 796  Words | 3  Pages

  • Internal Control System Checklist

    Internal Control System Checklist ACC/544 Monday December 03, 2010 Dr. YouKnew Abstract Internal control systems are purposed to aid in managing an array of risks, while monitoring the integrity and reliability of operational and financial data. Internal control systems ensure the proactively of audits, at the same time as serving to ensure that policies and procedures are enforced to protect the company’s financial information, limiting accounting inaccuracies and fraud. The following...

    Annual report, Audit, Balance sheet 751  Words | 3  Pages

  • Tutorial 4 Internal Auditing

    Tutorial 4 Review questions: 1- What does the term internal control mean? The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines internal control as: * “ a process, affected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories” * Effectiveness and efficiency of operations * Reliability of financial reporting ...

    Audit, Auditing, External auditor 1722  Words | 7  Pages

  • Management of Change in Banking Sector

    Management of Change in banking sector Introduction:- Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India's banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only...

    Bank, Bank run, Banking in India 1439  Words | 6  Pages

  • The Impact of Internal Controls on the Banking Industry

    1.0 Thesis Title The Need To Review Internal Controls In The Public Sector. 2.0 Introduction Internal controls include all the policies and procedures adopted by an entity to assist in their objectives of achieving, as far as practicable, The orderly and efficient conduct of the entity including * Adhering to internal policies * The safeguarding of assets * The prevention and detection of fraud and error * The accuracy and completeness of the accounting records and ...

    Control engineering, Control system, Foreign Corrupt Practices Act 492  Words | 2  Pages

  • Internal Controls

    My Internal Control System Report Bobby R. Hanna American Intercontinental University Abstract This paper will identify the internal control systems limitations. The three limitations that will be discussed are environment control, communications and monitoring. There will be two examples of internal control procedures and how they can be implemented. The identifying of a lack of internal control symptoms along with the impact of a entry on a financial statement of a company’s journal...

    Audit, Auditing, Bookkeeping 1304  Words | 4  Pages

  • Case Study About Frauds in Information System

    1. Compose a summary of the case. Include how the fraud was perpetrated, the characteristics of the perpetrator(s) who committed the fraud, the role the auditor(s) had in the case, and the direct and indirect effects the incident had on the organization’s stakeholders (customers, vendors, employees, executive committee, and board of directors). Comerica is being sued by Experi- Metal’s for a $560,000 phishing attack to their bank account. Experi- Metal, a custom auto- parts maker, was hit by phishing...

    Attack, Attack!, Bank 1392  Words | 4  Pages

  • 2020 Foresight Report: Maximizing Retail Banking Cost Efficiencies

    ResearchMoz.us include new market research report" 2020 Foresight Report: Maximizing Retail Banking Cost Efficiencies" to its huge collection of research reports. Banks across the world are revisiting their operational strategies, branch banking models, distribution channels and expansion strategies to achieve cost efficiencies and increase profits. To increase profitability, the focus is on selling high-margin profitable products and services, and scaling down unprofitable operations. There has...

    Bank, Banking, Customer service 705  Words | 3  Pages

  • MANAGEMENT CONTROL SYSTEM Controls for

    MANAGEMENT CONTROL SYSTEM GROUP TASK SUMMARY Controls for Differentiated Strategies PRESENTED BY FINA ELWASISTE 0910534030 M. ALVICKY SATYWARDANA 1210534006 MUHAMMAD IRVAN ADHA 1210534022 INTERNATIONAL ACCCOUNTING 2014 Controls for Differentiated Strategies Focus of chapter is Contingency Theory: A specific structure and process for an organization depends upon various external and internal factors. Research studies have identified important factors that influence control system...

    Control engineering, Control theory, Goal 1320  Words | 6  Pages

  • Case Study

     Bachelor of Applied Management Graduate Diploma in Business AMSM700a Strategic Management Assessment One – Case Study 2014 Student ID 2014001813 NorthTec reserves the right to use electronic means to detect and help prevent plagiarism. Students agree that when submitting this assignment, it may be subject to submission for textual similarity review to Turnitin.com. Submissions received late will be subject to a penalty of 10% of the student’s mark per working day. This...

    Cattle, Dairy, Dairy farming 2277  Words | 6  Pages

  • Evaluation of Service Quality in Internet Banking

    Evaluation of Service Quality in Internet Banking 1. Introduction: 1.1 Background 1.1.1 Banks have conventionally been in the vanguard of harnessing technology to develop their products, services and competence. They have, over a long time, been using electronic and telecommunication networks for delivering a extensive variety of value added products and services. The delivery channels include direct dial – up connections, private networks, public networks etc and the devices include telephone...

    Bank, Central bank, Financial services 1941  Words | 6  Pages

  • Evaluation of the Effectiveness of Control Systems in Computerized Accounting Information Systems

    Business & Management 13 (2006) 39-68 Evaluation of The Effectiveness of Control Systems in Computerized Accounting Information Systems: An Empirical Research Applied on Jordanian Banking Sector Talal H. Hayale* Husam A. Abu Khadra† Abstract The objective of this study is to evaluate the level of Control Systems effectiveness in Computerized Accounting Information Systems (CAIS) that is implemented in the Jordanian banking sector to preserve confidentiality, integrity and availability of the...

    Audit, Auditing, COBIT 1617  Words | 6  Pages

  • Adoption of Electronic banking system in Ethiopian Banking industry: Barriers and Drivers

    assesses the thesis ‘Adoption of Electronic banking system in Ethiopian Banking industry: Barriers and Drivers’. The review will first describe the research problem the thesis tries to address. Secondly, it critically assesses the validity of the research question in light of the stated research problem. In the third place, the review will also examine suitability of research design, type of data collected and data collection method elected, the sample selected, and method of data analysis. The review...

    Bank, Central bank, Commercial bank 2112  Words | 6  Pages

  • Justification for an Internal Control System

    Justification for an Internal Control System Organizations exist to carry out their set goals and objectives. To achieve these goals, they must have a set of rules that direct their efforts toward the achievement of these goals and objectives. With this the need for a system of internal controls comes in. An internal control is a set of policies and procedures put in place by the management of an entity to help it achieve its goals. “Internal control is a set of rules that provide...

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  • How to Analyze a Case Study

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