INTERNAL CONTROL SYSTEM, HOW EFFECTIVE AS A MEANS OF REDUCING THE INCIDENCE OF FRAUD IN AN ORGANIZATION
ABSTRACT
This research work was embarked upon with a view of providing an insight into the “Internal Control System, How Effective as a Means of Reducing the Incidence of Fraud in an Organization”, for this purpose Nigerian Bottling Company Plc, Agidigbin Road Opposite LTV, Lagos State has been chosen as a case study. This research work was divided into five (5) chapters for easy comprehension and as is it for this kind of work. The first chapter, which serves as an introduction, start by explaining why the research was been carried out, it usefulness and the area of problem statement.
The second chapter, which is review of literature defined “Internal Control System, brief history of the case study, meaning of fraud, types of fraud, causes of fraud, control of fraud and etc was considered in this chapter.
The third chapter, tells us what research methodology is, method of data collection, the research design, the approach to the research work and the strategies. The used of questionnaire and brief interview served as the primary data while the used of textbooks and journals served as the secondary data collection.
The fourth chapter, the hypothesis was tested using the data collected in chapter 3 above, issued out to the sample selected thereby formed the observation of frequency.
The fifth chapter which was the last chapter which also served as conclusion part formed the summary, conclusion, recommendation and also provided suggestion for further research. The result of our effort would be laid before you, it must be stressed that our discussion was based on mostly what is practicable on the field and every detail of Internal Control System.
CHAPTER ONE
1.0 INTRODUCTION
There is barely any organization in our society today that cannot be associated with one type of fraud or the other. Manufacturing industries, banking industries etc have all experienced a high propensity of fraud in recent time. In fact, activities of fraudsters in our organizations are highly unpredictable and their methods of operations keep changing. The case and issue of fraud in Nigerian economy has taken a different dimension, which if not attended to would cause a wreck in the total economic potentials.
