TABLE OF CONTENTS
DECLARATION
APPROVAL
DEDICATION iii
ACKNOWLEDGEMENT iv
LIST OF ACRONYMS v
ABSTRACT ix
CHAPTER ONE: INTRODUCTION 1
1.1 .introduction 1
1.2.Background of the Study
1.3.Statement of the problem 3
1.4. Purpose of the Study 3
1.5. Objectives 3
1.6. Research Questions 4
1.7. Hypothesis 4
I .8.Scope of the study 4
1.8.1. Content scope 4
1.8.2. Geographical scope 4
1.8.3.Time scope 4
vi
1.9.Significance of the study .5
CHAPTER TWO: LITERATURE REVIEW 6
2.1 .Introduction 6
2.2,Definition of the concept 6
2.2.1. DEFINITIONS OF KEY TERMS IN INTRERNAL CONTROL SYSTEM 7
2.3.Relationship between internal control systems and the development of Jessa farm dairy
(J.F.D) as a private sector 7
2.4.The classification of internal control systems 8
2.5.The key elements of internal control system 9
2.6.Challenges of implementing Internal control systems 10
2.7.The following are major five components of internal control systems (ICS) 11
2.8.REVIEW OF THE RELATED THEORIES OF INTERNAL CONTROL SYSTEMS 13
CHAPTER THREE: RESEARCH METHODOLOG 19
3.1.Introduction 16
3.2.Research design 16
3.3.Research population 16
3.4.Sample size 16
3.4.1.The sampling techniques of the study 17
VII
3.4.2.lnstrurnent of data collection .17
3.5.Research design 18
3.6.Ethical consideration 19
CHAPTER FOUR 20
PRESENTATION, ANALYSIS AND INTERPRETATION OF RESULTS 20
4.0.INTRODUCTION 20
4.1 Background Characteristics of the respondents 20
4.3.Discussion of research findings 34
CHAPTER FIVE 35
SUMMARY, CONCLUSIONS AND RECOMMENDATION 35
5.1.Summary findings 35
5.2,CONCLUSION 36
5.3.RECOMMENDATIONS 36
REFERNCES 38
APPENDICIES 40
ABSTRACT The backward development in the private sector has been attributed to weakness in the internal control systems in the private sector. Huge amount of money is lost due to internal control systems inadequacies and other criminal temptations, which to say the least, drains the nations meager resources with its far reacting and attendant consequences on the development. This private sector does not have strong policies and systems to check these activities in the private sectors. A sample size of size 50 respondents was drawn from the population. The convenience sampling technique was used to select the employees while purposive sampling techniques was used to select management in the farm. Questionnaire was the main instrument used to collect data tables, and bar chats were used to determine the frequencies and the percentages in data analysis. The study revealed that internal contest system had been effective at the farm as the result of effective supervision, segregation of duties, proper authorities and approval. Internal control systems faces some problems in its implementation such as poor judgment in decision making and due to carelessness, and fatigue. The study conclude that internal control system at Jessa dairy farm had been effective and efficient having positive effect on employee satisfaction.
