Effective Internal Control System as a Means of Detecting And Minimizing Fraud in a Manufacturing Company (A Case Study Of Nigeria Bottling Company, Ilorin Plant, Kwara State)

TABLE OF CONTENTS

          Title Page                                                                          i

          Approval Page                                                                   ii

          Dedication                                                                         iii

          Acknowledgment                                                              iv

          Table of Contents                                                              vi

CHAPTER ONE

1.0           Introduction                                                             1

1.1       Background of the study                                          2

1.2       Statement of the study                                             2

1.3       Aims and objective of the study                               3

1.4       Significance of the study                                         4

1.5       The Scope and Limitation of the study                    5

1.6       Definition of Terms                                                 6

1.7       Organization and plan of the study                          7

1.8       Plan of the study                                                      8

         CHAPTER TWO

2.0           Literature Review                                                    9

2.1       Internal control and  its Relevance                           9

2.2       Internal Checks                                                        14

2.3       Internal Audit                                                          16

2.4       Forms of Fraud and Its cause                                   18

2.5       Effects of Fraud on an organization                         20

2.6       Factors That May Encourage Frauds                       21

2.7       Basic Control and Prevention  of Frauds                  22

         CHAPTER THREE

3.0           Case study and Research Methodology                   26

3.1       The History of the case study                                   27

3.2       Data Analysis And Techniques                                28

3.3       Sources of Data Analysis                                         28

CHAPTER FOUR

4.0           Data Presentation And Analysis                              30

4.1       Data presentation                                                     31

4.2       Data Analysis                                                           31

4.3       Data Summary                                                         47

CHAPTER FIVE

5.0           Summary                                                                 50

5.1       Conclusion                                                               52

5.2       Recommendations                                                    52

References

CHAPTER ONE

1.0           INTRODUCTION

It is the primary responsibility of the management of business organizations to prevent and detect errors, irregularities and frauds. The responsibility arises because directors and other managers owe a contractual duty of care and must act in a stewardship capacity with regards to the property entrusted to them by the shareholders or other owners. They exercise this duty of care is a matter for them, be generally they discharge their duties by maintaining an effective internal control system. In fact, internal control system means "the whole system control financial and otherwise established by the management in order to carry in the business of a company in an orderly manner, safeguard its asset and secure as far as possible the accuracy and reliability of its record". In other words, it is a complex series of continuous and inter-related activities design by the management to direct and monitor the affairs of the organization.