Evaluation Of Internal Control System On Financial Performance Of Money Deposit Banks (A Case Study Of Zenith Bank Pie)
ABSTRACT
The study sought to establish the relationship between internal control system on financial performance of money deposit banks in Nigeria. The independent variable "internal control system" is measured by value of fraud, while the dependent variable ''financial performance" is proxy by return on asset, return on equity and profit margin. Secondary data was used for the study which was extracted from annual report and internal audit report. The study covered a period of ten years ranging from(2008-2007). The study adopted a ex-post factor research design. The study population encompasses all the money deposit banks listed on the Nigeria stock exchange, which are 21 in number. The sample size o this study is one, using Zenith Bank Pie. A simple linear regression was used to determine the extent to which internal control affects financial performance of money deposit bank. The study established a positive and insignificant effect between value of fraud and return on asset, return on equity and profit margin. The study therefore recommends that bank management should develop and discover new ways to strengthen the internal control. It also recommends that management of the organization should ensure a regular review and training of the internal control staffs so that each member of the internal control department is fully equipped with the best skill to handle any unforeseen event that may hinder the achievement of organization.
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NWOKOUKWU, C (2021). Evaluation Of Internal Control System On Financial Performance Of Money Deposit Banks (A Case Study Of Zenith Bank Pie) . Repository.mouau.edu.ng: Retrieved May 04, 2024, from https://repository.mouau.edu.ng/work/view/evaluation-of-internal-control-system-on-financial-performance-of-money-deposit-banks-a-case-study-of-zenith-bank-pie-7-2
CHIAMAKA.P., NWOKOUKWU. "Evaluation Of Internal Control System On Financial Performance Of Money Deposit Banks (A Case Study Of Zenith Bank Pie) " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 03 Jun. 2021, https://repository.mouau.edu.ng/work/view/evaluation-of-internal-control-system-on-financial-performance-of-money-deposit-banks-a-case-study-of-zenith-bank-pie-7-2. Accessed 04 May. 2024.
CHIAMAKA.P., NWOKOUKWU. "Evaluation Of Internal Control System On Financial Performance Of Money Deposit Banks (A Case Study Of Zenith Bank Pie) ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 03 Jun. 2021. Web. 04 May. 2024. < https://repository.mouau.edu.ng/work/view/evaluation-of-internal-control-system-on-financial-performance-of-money-deposit-banks-a-case-study-of-zenith-bank-pie-7-2 >.
CHIAMAKA.P., NWOKOUKWU. "Evaluation Of Internal Control System On Financial Performance Of Money Deposit Banks (A Case Study Of Zenith Bank Pie) " Repository.mouau.edu.ng (2021). Accessed 04 May. 2024. https://repository.mouau.edu.ng/work/view/evaluation-of-internal-control-system-on-financial-performance-of-money-deposit-banks-a-case-study-of-zenith-bank-pie-7-2