IMPACTS OF INTERNAL CONTROL ON CORPORATE FINANCIAL MANAGEMENT

📄 Project Abstract

Internal control is very crucial in organisations, whether profit or non-profit making. Every organisation has objectives to be achieved and needs finance/funds to meet their requirements in the economic world (Ironkwe & Promise, 2015). For profit making organisations, the main goal is to maximise shareholder wealth, while satisfaction of citizens needs is the sole purpose of non-profit making organisations. For these purposes or objectives to be achieved, supervision, which is a form of control, plays a key role in the organisation (Sahabi, Gordon & Mohammed, 2017). For any organisation to survive, resources at its disposal must be effectively and efficiently utilised (Eniola & Akinselure, 2016). In other to optimise the utilisation of resources at the disposal of employees in an organisation, various forms of control mechanisms are put in place by the management of the organisation. Among these control measures are internal control and internal audit, (Eniola et al., 2016). An intern...