THE ROLE OF INFORMATION TECHNOLOGY IN THE DEVELOPMENT OF AN EFFECTIVE INTERNAL CONTROL SYSTEM (A CASE STUDY OF MOUKA FOAM COMPANY LIMITED)
ATTENTION:
BEFORE YOU READ THE CHAPTER ONE/ABSTRACT OF THE PROJECT TOPIC
BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
INFORMATION:
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL
PROJECT COSTS N5,000 ONLY.
THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT
IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08137701720
THE ROLE OF
INFORMATION TECHNOLOGY IN THE DEVELOPMENT OF AN EFFECTIVE INTERNAL CONTROL
SYSTEM (A CASE STUDY OF MOUKA FOAM COMPANY LIMITED)
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Internal
control system is a framework used by organizations for assuring achievement of
an organization's objectives in operational effectiveness and efficiency,
reliable financial reporting, and compliance with laws, regulations and
policies (Chenhall, 2003). A broad concept, internal control system involves
everything that controls risks to an organization. Hence, before there can be
high performance and productivity in an organization, there have to be an
effective internal control system in place.
An effective
internal control system also incorporate means by which an organization's
resources are directed, monitored, and measured. It plays an important role in
detecting and preventing fraud and protecting the organization's resources,
both physical (e.g., machinery and property) and intangible (e.g., reputation
or intellectual property such as trademarks). At the organizational level,
internal control system objectives relate to the reliability of financial
information, timely feedback on the achievement of operational or strategic
goals, and compliance with laws and regulations. At the specific transaction
level, internal control system refers to the actions taken to achieve a
specific objective (e.g., how to ensure the organization's operational information
is intact and valid).
According to
Amudo & Inanga (2009), everyone in an organization has responsibility for
internal control system to some extent. Virtually all employees produce
information used in the internal control system or take other actions needed to
affect control system. Also, all personnel are responsible for communicating
upward problems in operations, noncompliance with the code of conduct, or other
policy violations or illegal actions. However, application of technology is
needed to ensure that each personnel play its own role in developing and
maintaining an effective internal control system. At this point, information
technology should be considered as a tool for developing an effective internal
control system considering the level of advancement in technology and
globalization. the researcher is of the opinion that information technology
will have a way of influencing effective internal control system in an
organization.
Information
technology (IT) is the application of computers to store, retrieve, transmit
and manipulate data, often in the context of a organizational management. IT is
considered a subset of information and communications technology (ICT). In
2012, Zuppo proposed an ICT hierarchy where each hierarchy level "contain some
degree of commonality in that they are related to technologies that facilitate
the transfer of information and various types of electronically mediated
communications." The term is commonly used as a synonym for computers and
computer networks, but it also encompasses other information distribution
technologies such as television and telephones. Several industries are
associated with information technology, including computer hardware, software,
electronics, semiconductors, internet, telecom equipment, engineering,
healthcare, e-commerce and computer services (Candreva, 2006). Based, on the
widely known capabilities of information technology, the researcher is
examining the role of information technology in the development of an effective
internal control system in Mouka Foam Manufacturing company, Benin City, Edo
State, Nigeria.
Two brothers
whom their father, Moukarim came to Nigeria from Republic of Benin in 1935 to
establish a metal company, Mouka Ltd in the northern Nigeria, Messrs Essam and
Bashir (Late) Moukarim establish the Mouka foam manufacturing factory in Lagos.
This plant grew to become the largest single continuous foam manufacturing
factory in Africa and the Middle East. Mouka was the first foam company in
Nigeria to get its laboratory certified to international standards through the
international certification. In response
to increased demand from the East/South South region of Nigeria, the company
acquired an existing foaming plant in Benin and opened for business in 2003. In
2008 the plant capacity was upgraded to enable the company give the same
quality offering from Benin and today this plant which is under study in this
research is catering to the needs of the East, Midwest and parts of the West of
Nigeria. Mouka Ltd currently employs over 600 persons across its various
locations
1.2 STATEMENT OF THE PROBLEM
Effective
internal control system plays an important role in ensuring objective
achievement of a company. Several factors ranging from information technology
to contributions of the management and personnel staffs also comes into play to
ensure effective internal control system. The researcher is curious of
ascertaining the role of information technology in the development of an
effective internal control system in a manufacturing company considering the
capabilities of information technology which includes speed, accuracy,
reliability etc. the research is also coming at the right time because there is
no existing studies of the role of information technology in the development of
an effective internal control system.
1.3 OBJECTIVES OF THE STUDY
The
following are the objectives of this study:
To examine the role of information
technology in the development of an effective internal control system in Mouka
Foam Company.
To examine the level of use of information
technology in Mouka Foam Company.
To find out whether effective internal
control system in Mouka Foam Company has contributed to the organization’s
productivity.
1.4 RESEARCH QUESTIONS
What is the role of information technology
in the development of an effective internal control system in Mouka Foam
Company?
What is the level of use of information
technology in Mouka Foam Company?
Has the effective internal control system
in Mouka Foam Company contributed to the organization’s productivity?
1.5 HYPOTHESIS
HO: There is
no significant relationship between information technology and the development
of an effective internal control system in Mouka Foam Company.
HA: There is
significant relationship between information technology and the development of
an effective internal control system in Mouka Foam Company.
1.6 SIGNIFICANCE OF THE STUDY
The
following are the significance of this study:
The outcome of this study will useful for
managements of manufacturing companies because it will form a guide on how
information technology can be used as a tool for the development of an
effective internal control system in the manufacturing industry.
This research will be a contribution to the
body of literature in the area of the role of information technology in the
development of an effective internal control system in a manufacturing company,
thereby constituting the empirical literature for future research in the
subject area.
1.7 SCOPE/LIMITATIONS OF THE STUDY
This study
is limited to Mouka Foam Company, Benin Plant, Edo State. It will also cover
the company’s information technology system and how it contributes to effective
internal control system.
LIMITATION
OF STUDY
Financial
constraint- Insufficient fund tends to impede the efficiency of the researcher
in sourcing for the relevant materials, literature or information and in the
process of data collection (internet, questionnaire and interview).
Time constraint- The researcher will
simultaneously engage in this study with other academic work. This consequently
will cut down on the time devoted for the research work.
HOW
TO GET THE FULL PROJECT WORK
PLEASE, print the following instructions and information if you
will like to order/buy our complete written material(s).
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5,000) into our bank Account
below, send the following information to 08137701720
(1) Your project topic
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) after we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 2023350498
Bank: UBA.
NOTE:
YOU CAN ALSO MAKE A TRANSFER PAYMENT
FOR MORE INFORMATION, CALL:
08137701720AFFILIATE LINKS:
Comments
Post a Comment