INTERNAL CONTROL SYSTEMS AND CORPORATE SURVIVAL IN THE NIGERIAN BANKING INDUSTRY
INTERNAL CONTROL SYSTEMS AND CORPORATE SURVIVAL IN THE NIGERIAN BANKING INDUSTRY
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Date
2004-06
Authors
KABIR, TAHIR HAMID
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Abstract
This research thesis investigates the problem of corporate failures as a result of
weak internal controls system, which brings about distressness, collapse and withdrawal
of licences of banks by regulatory authorities in Nigeria, thereby bringing untold hardship
to all stakeholders.
The researcher used a sample of seven banks, systematically selected from a
population of twenty-eight banks whose shares were traded on the floor of the Nigerian
Stock exchange as at 22nd August 2003. Questionnaires were administered on 420
respondents, 60 from each of the seven banks, made-up of 20 from the management
staff, 20 from audit staff and 20 from operation/banking staff. Out of this number, only 303
questionnaires were completed and returned. The primary data collected through the
administration of questionnaires was analyzed using simple percentages and chisquare
test (x2), while the secondary data collected from the annual report and accounts
of some of the sample banks was analyzed using spearman rank order correlation and t
statistics.
Thus it was found that effectiveness or otherwise of internal control system can
make or mar corporate survival of banks in Nigeria.
The research work concluded that internal control system is the responsibility of
every body in an organization and as such every staff must be aware of his role in its
process and fully engaged in it.
Finally it recommends that banks managements must put in place a sound
approach to the selection of appropriate internal control practices and procedures,
governed by a process of risk analysis and continuously monitor the overall effectiveness
Description
BEING A THESIS SUBMITTED TO THE POST GRADUATE SCHOOL,
AHMADU BELLO UNIVERSITY, ZARIA, IN PARTIAL FULFILLMENT
OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF
SCIENCE (M.Sc.) DEGREE IN ACCOUNTING AND FINANCE.
DEPARTMENT OF ACCOUNTING
AHMADU BELLO UNIVERSITY, ZARIA.
JUNE 2004
Keywords
INTERNAL,, CONTROL,, SYSTEMS,, CORPORATE,, SURVIVAL,, NIGERIAN BANKING INDUSTRY