scholarly journals Assessment of the Effectiveness of Internal Control Systems of Adamawa State Ministries, Departments and Agencies in Adamawa State, Nigeria

2020 ◽  
pp. 57-71
Author(s):  
Ahmed Adamu Ishaku ◽  
Mohammed Mahmud Kakanda ◽  
Sagir Danladi
Keyword(s):  
Control Systems ◽  
Internal Control ◽  
Internal Controls ◽  
Primary Data ◽  
Control Environment ◽  
Four Dimensions ◽  
Internal Auditors ◽  
Information And Communication ◽  
Key Staff ◽  
And Control

Aim: This study examines the effectiveness of internal control systems (ICS) of Adamawa state Ministries, Departments and Agencies (MDAs). Study Design: Survey research design. Place and Duration of Study: Sample: Ministries, Departments and Agencies in Adamawa State in 2019. Methodology: The sample size of the study was one hundred and sixty-five (165) target respondents which consist of all heads of MDAs, Directors of Finance, internal auditors’ and two key staff from accounts and audits of the ministries, departments and agencies. The study used primary data and questionnaire was used in collecting data used for analyses. The effectiveness of the internal control systems under four dimensions: control environment (CE), control activities (CA), information, and communication (IC), and monitoring of controls (MC) were analyzed using descriptive statistics while ANOVA test was used to test the hypothesis of the study. Results: The study found that the effectiveness of ICS for the MDAs in Adamawa state was good. The Departments category generally had the highest rating for CE, CA, IC and MC. This is reflected in their overall effectiveness. However, other categories (Ministries & Agencies) had moderate ICS effectiveness, particularly the Agencies that recorded the lowest rating in concerning to CE and CA. Recommendation: The study recommends that Departments should maintain their level of internal control systems through effective monitoring and separate evaluations of their systems of control. This will help enhance or maintain the current level of their internal control systems. Ministries and Agencies should strengthen their Control Environment through mechanisms such as a commitment to integrity, ethical values, and competence, and Control Activities by ensuring that unauthorized transactions are not processed and more controls are put in place to avoid overspending. This will render the other components of internal controls more effective.

scholarly journals PENERAPAN SISTEM PENGENDALIAN INTERN TERHADAP PEMBERIAN KREDIT PADA PT PEGADAIAN (PERSERO) UNIT PELAYANAN CABANG KALIWUNGU

2020 ◽  
Vol 3 (1) ◽  
pp. 39
Author(s):  
Arini Amalia Rahma ◽  
Siti Mutmainah
Keyword(s):  
Risk Assessment ◽  
Control System ◽  
Internal Control ◽  
Qualitative Data ◽  
Secondary Data ◽  
Primary Data ◽  
Control Environment ◽  
Internal Control System ◽  
Information And Communication ◽  
And Control

<em>Internal control is a process carried out by the company to provide adequate guarantees for achieving control objectives. The objective of this Research is to find out the current internal control system that is applied at PT Pegadaian (Persero) Kaliwungu Branch Service in the process of granting credit. The next objective is to identify whether the components of internal control applied are according to COSO. The data used are qualitative data, primary data, and secondary data. The methods of collecting data are interview, observation, and questionnaire. For writing the Research uses descriptive and exposition methods. There are five components of internal control according to the Committee of Sponsoring Organization (COSO), they are Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring. The results of the discussion in the Research shows that the application of the internal control system for granting credit at PT Pegadaian (Persero) Kaliwungu Branch Service is in accordance with COSO internal control component, but the Control Environment and Control Activities has not been fully implemented.</em>

scholarly journals Effects of Risk Assessment, Control Environment and Control Activities on Performance of Listed Banks in Ghana

2020 ◽  
pp. 18-33
Author(s):  
Redruth Nyaaba Ayimpoya ◽  
David Amoah Akolgo ◽  
Simon Akumbo Eugene Mbilla ◽  
Michael Kwame Gbegble
Keyword(s):  
Risk Assessment ◽  
Financial Performance ◽  
Control Systems ◽  
Internal Control ◽  
Practical Implication ◽  
Internal Controls ◽  
Control Environment ◽  
Private And Public ◽  
Risk Areas ◽  
And Control

Globally, internal controls serve many important purposes for public private and public help organizations. There is however an increasing call for better and improved internal control systems especially in firms that are listed on public market. However, internal control systems, irrespective of how well conceived and implemented cannot provide absolute assurance of management and boards regarding the achievement of objectives. This research focused on the three components of internal control systems namely control environment, risk assessment, and control activities. This study therefore formulated four objectives and investigated how risk assessment, control activities, and control environment affects the performance of Ghanaian banks. In this quantitative study, representatives from twelve listed banks were engaged. Descriptive and regression analysis was performed on the field data. The study result shows while Risk assessment has a strong significant effect on financial performance, Control environment and Control activities, have a weak significant effect on financial performance. The practical implication of the study is that, when assessing the performance of banks, risk areas must be examined critically to reduce or eliminate their impacts on bank performance.

scholarly journals INTERNAL CONTROL SYSTEMS AND ITS RELATIONSHIPS WITH THE FINANCIAL PERFORMANCE IN TELECOMMUNICATION COMPANIES “A CASE STUDY OF ASIACELL”

2018 ◽  
Author(s):  
Amanj Mohamed Ahmed ◽  
Akram Ahmed Muhammed
Keyword(s):  
Risk Assessment ◽  
Control System ◽  
Financial Performance ◽  
Control Systems ◽  
Internal Control ◽  
Internal Controls ◽  
Control Environment ◽  
Independent Variables ◽  
Internal Control System ◽  
Information And Communication

The overall objective of this study was to establish the effects of internal controls on the financial performance of Asiacell as a telecommunication company in Kurdistan Region of Iraq. This was achieved by looking at the effect of control environment, risk assessment, information and communication, control activities and monitoring on the return on asset of the selected company. The study used both primary and secondary techniques to collect the data. In the model, the dependent variable is financial performance while the independent variables are the components of internal controls. After analyzing the audited financial statements and filling the questioners by the employees of the selected company, the findings of the study showed that there is a significant relationship between internal controls and financial performance. The dependent and the independent variables in the study indicated a relationship with control environment, risk assessment. Information and communication and control activities illustrated a positive relationship with the financial performance while monitoring showed a negative relationship with financial performance. The study also found that, Asiacell had invested on effective internal control systems, thus, it had a better financial performance as compared to the related firms that had a weak internal control system. The study further recommends that the governing body, possibly supported by the audit committee, should ensure that the internal control system is periodically monitored and evaluated by the respective managers.

scholarly journals Impact of Internal Control on Audit Program Effectiveness: The Case of Vietnam

2018 ◽  
Vol 10 (9) ◽  
pp. 1
Author(s):  
Thi Que Nguyen ◽  
Manh Dung Tran ◽  
Thi Viet Ha Hoang
Keyword(s):  
Risk Assessment ◽  
Internal Control ◽  
Program Effectiveness ◽  
Environmental Control ◽  
Control Environment ◽  
Internal Auditors ◽  
Internal Control System ◽  
And Control ◽  
The Relationship ◽  
Audit Program

This research is conducted to examine the relationship between components of risk assessment, environmental control and control activities of internal control system and the effectiveness of the audit program in Vietnamese firms. Data were collected by sending questionnaires to management, internal auditors, and accountants of Vietnam firms and feedback of 87 responses. By testing Cronbach’s Alpha, Exploratory Factor Analysis (EFA), Analysis of Variables (ANOVA), the results show that control environment, risk assessment and control activities contribute significantly to an effective audit program. These results indicate that Vietnamese firms lack required experiences to cope with the current instruments of internal control assessment.

The Influence of Internal Control Factors on the Perfomance Effectiveness of the Garment, Agricultural and Chemical Enterprises Listed on Vietnam’s Stock Market

2020 ◽  
Vol 36 (1) ◽  
Author(s):  
Do Huy Thuong ◽  
Nguyen Thi Phuong Hong
Keyword(s):  
Risk Assessment ◽  
Stock Market ◽  
Internal Control ◽  
Research Result ◽  
Control Environment ◽  
Monitoring And Control ◽  
Performance Effectiveness ◽  
Control Factors ◽  
Information And Communication ◽  
And Control

The research focuses on analysing the impacts of internal control factors on the performance effectiveness of the garment, agricultural and chemical enterprises listed on Vietnam’s stock market. The research result shows that of the factors of Risk Assessment, Control Activities, Information and Communication, Monitoring and Control Environment, the factor of Information and Communication has the strongest effect on the performance effectiveness of the enterprises. Next to it is Risk Assessment, Control Environment and Monitoring. The factor of Control Activities has the least influence on the performance effectiveness of the enterprises.

scholarly journals Analisis Penyaluran dan Penggunaan Dana Desa (Studi pada Nagari Tujuah Koto Talago, Kecamatan Guguak, Kabupaten 50 Kota)

2018 ◽  
Vol 6 (2) ◽  
pp. 1331
Author(s):  
Intan Marthalina ◽  
Nurzi Sebrina
Keyword(s):  
Control Systems ◽  
Internal Control ◽  
Secondary Data ◽  
Community Empowerment ◽  
Primary Data ◽  
Mutual Cooperation ◽  
Goods And Services ◽  
Second Stage ◽  
Information And Communication ◽  
Interpretative Approach

This research aims to determine the Distribution and Use of Village Funds In villages in Tujuah Koto Talago, Guguak District, Limapuluh Kota District West Sumatrera, there are three (3) aspects in the use and distribution of village funds namely Financial Aspects in Use of Village Funds, Aspects of Procurement of Goods and Services in the Use of Village Funds and Aspects of Reliability of Internal Control Systems. To achieve that goal, qualitative research method with interpretative approach is used. Data Sources are Primary data and Secondary data. Data collection techniques are carried out by observation, interviews, and document. The results showed:(1) Finance in the use of village funds in disbursement has been delayed, namely liquid one-stage funds in May and second stage funds in September and prioritized use of infrastructure (2) procurement of goods and services in the use of village funds are carried out efficiently, effectively, transparently, community empowerment, mutual cooperation and accountability (3). Reliability of SPI is carried out based on the internal environment, risk assessment, control activities, information and communication and monitoring carried out by the sub-district head, nagari guardian, nagari, bamus and the communityKeywords: Distribution and Use of Village Funds

scholarly journals IPTEKS PENGENDALIAN INTERNAL TERHADAP PEREKAMAN SURAT PEMBERITAHUAN TAHUNAN (SPT) PADA KANTOR PELAYANAN PAJAK (KPP) PRATAMA MANADO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Nabilah N.R. Amin ◽  
Lady Diana Latjandu
Keyword(s):  
Risk Assessment ◽  
Internal Control ◽  
Internal Controls ◽  
Main Task ◽  
Control Environment ◽  
Tax Returns ◽  
Directorate General ◽  
Information And Communication ◽  
Control Procedures ◽  
Ministry Of Finance

KPP Pratama Manado is a tax administration agency in the Manado area under the auspices of the Indonesian Ministry of Finance. The main task of KPP Pratama Manado is to carry out the main duties of the Directorate General of Taxes in collecting State revenues from the Taxation sector. To achieve the best service, recording annual notification letters (SPT) on taxpayers is one of the important roles in reporting, receiving or deduction. This study aims to determine the internal control of SPT recording at KPP Pratama Manado. Internal controls will run according to regulations if implementing COSO internal controls, including the control environment, risk assessment, control activities, information and communication, and monitoring. The results of the study indicate that the ability of KPP Pratama Manado in processing and recording Annual Tax Returns is quite effective, but delays in reporting will often occur.Keywords: Tax, SPT, recording, internal control, procedures

Internal Control Material Weaknesses and Foreign Corrupt Practices Act Violations

2018 ◽  
Vol 3 (1) ◽  
pp. A80-A104
Author(s):  
Yi-Hung Lin ◽  
Meghann A. Cefaratti ◽  
Chih-Chen Lee ◽  
Hua-Wei Huang
Keyword(s):  
Internal Control ◽  
Regulatory Compliance ◽  
Internal Controls ◽  
Control Environment ◽  
Control Material ◽  
Foreign Corrupt Practices Act ◽  
Material Weaknesses ◽  
And Control ◽  
The Relationship ◽  
Jel Classifications

ABSTRACT The purpose of this research is to investigate the relationship between internal control material weaknesses (ICMWs), as measured by presence, number, and type, and Foreign Corrupt Practices Act (FCPA) violations. Our results indicate that firms with ICMWs are more likely to violate the FCPA and firms with multiple ICMWs have a higher likelihood of violating the FCPA than firms with fewer ICMWs. Further, firms with ICMWs related to the risk assessment, control environment, and control activities components of internal controls (based on the COSO Internal Control—Integrated Framework) present a higher risk of FCPA violations than firms without ICMWs in those areas. These findings substantiate the importance of effective internal controls in supporting firms' regulatory compliance. JEL Classifications: M42; M48; D73.

scholarly journals Internal Controls and Performance of Selected Tertiary Institutions in Ekiti State: A Committee of Sponsoring Organisations (COSO) Framework Approach

2019 ◽  
Vol 11 (1) ◽  
pp. 405
Author(s):  
Gideon Tayo Akinleye ◽  
Adebola Daniel Kolawole
Keyword(s):  
Internal Control ◽  
Positive Influence ◽  
Internal Controls ◽  
Primary Data ◽  
Control Environment ◽  
Organisational Performance ◽  
Tertiary Institutions ◽  
Framework Approach ◽  
And Performance ◽  
Positive Effect

This study examined the effect of internal controls on performance of selected tertiary institutions in Ekiti state using a committee of sponsoring organisations (COSO) framework approach. The study employed a survey research design. Primary data were obtained and analysed using multiple regression analysis. Findings from the study showed that the overall influence of COSO components of internal control on performance of selected tertiary institutions in Ekiti state was significantly positive. However, Control activities (CA) (t =2.487, p=0.013 <0.05), Information & communication (IFC) (t=7.195, p=0.000 < 0.05) and Monitoring activities (MA) (t=4.809, p=0.000 < 0.05) had significant and positive influence on organisational performance of the selected tertiary institutions while Control environment (CE) (t =0.569, p=0.570 > 0.05) and Risk assessment (RA) (t=0.446, p=0.656 > 0.05) had positive but insignificant effect on organisational performance of the selected tertiary institutions. The study concluded that internal control had a positive effect on performance and was statistically significant in explaining performance of selected tertiary institutions in Ekiti state. The study thus recommended that those charged with governance in tertiary institutions should strengthen the highlighted components of internal controls.

scholarly journals EVALUATION OF THE IMPLEMENTATION OF INTERNAL CONTROL SYSTEM FOR THE RECEPTION, RETURN AND AUCTION OF GUARANTEE GOODS IN. PEGADAIAN (PERSERO)

2020 ◽  
Vol 1 (1) ◽  
pp. 56-68
Author(s):  
Ahmad Raymond Trilaksana
Keyword(s):  
Control System ◽  
Control Systems ◽  
Internal Control ◽  
Control Environment ◽  
Unit Manager ◽  
Lack Of Control ◽  
Internal Control System ◽  
Standard Operating ◽  
Information And Communication ◽  
Qualitative Descriptive

PT. Pegadaian (Persero) provides loans to people with require collateral item as insurance. PT. Pegadaian have to  keep  the  collateral  save and  maintain  it secure, so that  internal control  for  collateral  items  are  necessary  needed.  The purpose of  this research  was  to determine and evaluate the implementation of the internal control systems for receiving, returns, and auctions of collateral items at PT. Pegadaian (Persero). The method used  is  qualitative descriptive with  five  components  of  COSO to  evaluate the effectivities of internal control that applied at PT. Pegadaian (Persero). The five components of the COSO internal control is the control environment, risk assessment, control activities, information and communication and monitoring. The results showed that internal control systems at PT. Pegadaian (Persero) have been support by Standard Operating Procedures for all operations and filed documents. But from the evaluation for internal control system of receiving, returns, and auctions of collateral items there are still task stacking at unit manager make internal control systems PT. Pegadaian (persero) still have lack of control.

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