| Summary, etc |
Internal controls are policies, procedures, practices and organizational structures effected by an<br/>entity's board of directors, management and other personnel. Internal control is designed to provide<br/>reasonable assurance that an organization’s business objectives and goals will be achieved and the<br/>reliability of financial and management reporting in compliance with applicable laws. Internal<br/>control system over the years has played a prominent role in monitoring and ensuring the<br/>performance of organizations. The responsibility for the prevention and detection of fraud and<br/>errors rests with directors through the implementation and continued operation of adequate<br/>accounting and internal control systems. This study aims to shed light on how internal control<br/>system affect organizational performance in manufacturing companies in Nigeria. The research<br/>design that was employed in this study is survey design. Primary data was collected using<br/>structured questionnaires. Collected raw data was cleaned and edited for completeness and<br/>consistency. Data was analyzed by use of the multiple linear regression. Statistical Package for<br/>Social Sciences (SPSS, v. 21) was used to aid in quantitative data analysis in this study. The results<br/>were presented in tables. The output for this study was presented using descriptive statistics like<br/>the mean score and standard deviation. The independent variables are three of the five element of<br/>internal control system, they include risk assessment, control activities and information and<br/>communication system. However after the hypothesis have been tested, the result shows that risk<br/>assessment, control activities and information and communication system significantly affect<br/>organizational performance. |
