Interna Control

CHAPTER ONE INTRODUCTION 1.1Background to the Study Internal harbour, the strength of all organization has arrive of plethoric importance today in Nigerian sticks. The reason conception that the lock trunk in any organization is a pillar for an efficient score corpse. The fate for an intrinsic apply arrangement in organizations, in particular banks cannot be undermined due to the give birth that the banking firmament which has a significant role to play in the economic development of a nation is now existence characterized by macro economic system in stability, slow growth in real economic activities, corruption and fraud risk. Organized imposition and other violent behaviors guide become synonymous in numerous of the banks. This includes the money laundering, net income fraud, credit card and personal identity fraud. All of the stained processes of the banks ordain create difficulties for the fiscal field of operation and therefore, it is important to pay fear on the appropriate precaution within the banks. Fraud which is the major reasons for setting up an subjective find system has become a great get at in the neck of many Nigerian bank managers. It has excessively become an unfortunate staple fibre in Nigerias universal reputation.

Fraud is really alimentation deep into the Nigerian banking system and that any bank with a weak inner control system is dangerously undefendable to bank fraud. The vital pack for an effective maintenance of familiar control system in order to maintain stability and confidence in the banking bena is the main concern of the new-fangled years globalisation process. An internal control system can help to experience that the goals and objectives of a banking organization are met and that the bank will track down long term gainfulness targets and maintain reliable financial and managerial reporting. Such a system can in addition 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 damage to the banks...If you want to get a full essay, order it on our website: Orderessay

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