Financial Control and Accountability

Financial Control and Accountability

Project / Seminar Material
Reference ID: PS-11375-TM

DEDICATION

This research material titled “Financial Control and Accountability” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Banking and Finance (BF), Book Authors and Profound Scholars of existing or related project material on “Financial Control and Accountability” for their invaluable guidance, support, and expertise throughout the journey.

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TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    Financial Control and Accountability

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    Financial control and accountability as the name implies means the proper management and control of financial aspects, the efficiency effective and management of finance of the organisation. The finance control and management law 1968 is designed for control and management for the public financial and maters connected there with and it stipulates under section 33 that the accountant general shall under to the auditor general accounts showing the financial position of the state at the end of every financial year and these include:

    1. Statement showing the sums estimated to be received as revenue into the consolidated revenue fund and sums actually so received in the period of account.
    2. Statement of assets and liabilities.
    3. A statement showing the sums estimated to be issued out of the consolidated revenue fund and the sums actually so issued in the period of accounts.

    So in every organisation or public sector, there is the need for control and accountability.

    Therefore, Engu state ministry of finance should not be an exception. Every staff of the ministry is involved to some extent in controlling of financial as well answerable to their conduct.

    Almost all the workers in the civil services especially those involved in government financial operation and well acquainted with and an updated knowledge of the principles of financial controls. Financial control is linked with financial planning. This is not withstanding control parameter are outcomes of financial planning decisions.

    However, systematic planning in itself requires a degree of control in terms of its process and procedures. In most cases, government constitutes largest single business entity and in many places, the core of the economy.

    Its pattern of expenditure or manner of resources allocation determines the extent to which accountability for economy, efficiency and effectiveness can be achieved.

    1.2 Statement Of The Problem

    There is a general notion that government finance is fraught with numerous problems ranging from frivolous expenditure, lack of fraught to embezzlement and mismanagement of public funds. This situation calls for adequate financial control measure and accountability.

    Some of the identified problems of the public sector accounting system includes:

    1. Lack of effective internal control and audit system.
    2. Indifference to revenue generation.
    3. Failure to conform to financial instructions and regulations.
    4. Late auditing of ministerial accounts
    5. Late finalization and publication of account and poor keeping of internal accounting records.
    6. Personal problems involving lack of knowledge and expertise among government accountants occupying higher levels of responsibility
    7. Excess authorization of expenditure.
    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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