INTERNAL CONTROL SYSTEM IN MANUFACTURING INDUSTRIES (A CASE STUDY OF LIFE BREWERIES LIMITED ONITSHA)
ABSTRACT: There is a need for strong internal control system in manufacturing organization to make sure that organization assets are safe guarded. Considering the importance of internal control to life Breweries limited Onitsha the researcher deems it necessary to study the effectiveness of internal control. Officers of the organization were interviewed and their records were also examined related tools were also reviewed by the researcher. The researcher revealed that the organization applies internal control measurers though weak, because of the nature of human beings. The researcher recommends that the company should review their operation, measure applied and improve in their system of internal control by training their staffs and changing the corrupted ones.
TABLE OF CONTENTS
CHAPTER ONE
- Introduction                                                                     1
1.1    Background of study                                                        5
1.2    statement of problem                                                        6
1.3    Purpose of the study                                                         6
1.4    Significant of the study                                                     7
1.5    Statement of hypothesis                                                    7
1.6    Scope of the study                                                            8
1.7    Limitation of the study                                                      8
1.8    Definition of terms                                                           9
CHAPTER TWOÂ Â Â Â Â Â Â Â Â Â Â Â
- Review of related literature                                               11
2.1    Introduction                                                                      11
2.2    Internal cheek and internal audit                                       14
2.3    Internal control in manufacturing industries                     24
- Delegation of duties                                                          29
CHAPTER THREE
- Research design and methodology                                    33
3.1    Sources of data                                                                 33
- Sample population and size                                              34
- Method of data collection                                       34
- Sources of data                                                                 35
- Description of questionnaires                                           36
- Method of data analysis                                                    37
- Method of typing hypothesis                                            38
CHAPTER FOUR
- Data presentation and analysis                                          40
4.1    Data presentation                                                              40
- Interpretation of data                                                        48
- Analysis of data                                                                50
CHAPTER FIVE
- Summary of findings, conclusion and recommendation   55
5.1    Finding                                                                             55
5.2    Conclusions                                                                      56
- Recommendation                                                             56
Bibliography                                                                     58
Appendix (ices)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 60
CHAPTER ONE
INTRODUCTION
Internal control is defined by the consultative committee of accounting bodies in the united kingdom as a whole system of controls, financial an do otherwise established by the management in order to carryon the business of the enterprise in an orderly and efficient manner, ensure adherence to management polices, safeguard the asset and secure as far as possible the completeness and accuracy of his records.