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Strategies for  Enhancing financial accountability in the local government system in Nigeria.

                                     (A Case Study of Ikwo Local Government Area, Ebonyi State).

                ABSTRACT

        The purpose of this research is to study the impact of effective internal control system in the local government in Nigeria as a process of achieving financial accountability.

Also to show what happens when such a system is found ineffective.  It equally aimed at providing possible solutions based on the findings and making of some recommendations when implemented will reduce some of the problems encountered in the process of maintaining financial prudence and accountability.

        The sources of data used in this research are questionnaire responses, seminar handouts and personal observations. The analysis of data comprised of the use of percentage and chi-square (x2) technique.  This technique was apply appropriately with three degrees of freedom and at 0.05 level of significance.

The internal control system was seen to be more effective at the finance department. Segreanse of duties was not so adequate because of interruption from the top management not allowing proper separation of functions.

The analysis of the questionnaire schedule revealed that most local government has seen the need for effective internal control system.  They equally showed satisfactions from the results so far and have realized the problems inherent where there is ineffective internal control system.

        It was also observed that internal control system, which is effective, enhances early detection of mistakes, deliberate misappropriation and equally checks collisions, fraud or embezzlement of funds.

Effective internal control system should be emphasized in all sectors of our economic.

This is because it tares care of proper authorization, reliability of financial records and the maintenance of financial accountability.  The internal audit department should also be made to be effective in it’s functions.

                TABLE OF CONTENTS                                                                       

PRELIMINARY SECTION

Contents

Cover page

Title page

Certificate or Approval

Dedication

Acknowledgement

Abstract

Table of contents

List of tables

CHAPTER ONE

1.1.  Background of Study

1.2.  Statement of Problems

1.3.  The Objective of the Study

1.4.  Significant of Research

1.5.  Research Question

1.6.  Research Hypothesis

1.7.  Scope or Delimita of the Study

1.8.  Definition of Terms

CHAPTER TWO

1. Review of Literature
2. The network of internal control system
3. Management controls
4. An overview of effective internal control system
5. Internal checks and auditing practices
6. The place of external auditing in enhancing financial accountability in local government
7. Application for control to public sector
8. Application of control to private sector
9. Accountability and general
10. Summary of related literature

CHAPTER THREE

1. Research Methodology
2. Research design
3. Area of study
4. Population of the study
5. Sample and sampling procedure
6. Instrument for data collection
7. Validity of instrument
8. Reliability of instrument
9. Method of data collection
10. Method of data analysis

CHAPTER FOUR

1. Presentation and Analysis of Data

4.1.  Analysis of questionnaire research

4.2.  Analysis of the test hypothesis

        conclusion on the test of hypothesis

CHAPTR FIVE

1. Discussion, Conclusion and Recommendation

5.1.  Discussion of Findings/result

1. Conclusion of Findings/Result
2. Implication of Result
3. Recommendation
4. Suggestions for further research
5. Limitation of the study

References.

APPROVAL

The purpose of this research is to study the impact of effective internal control system in the local government system in Nigeria as a process achieving financial accountability.  Also to know or show what happens if such a system found ineffective.  It equally aimed at providing possible solution s based on the findings and making of some recommendations when implemented will reduce some of the problems encountered in the process of maintaining financial prudence and accountability.  The important area which the researcher want to look into are as follows:

1. To ascertain the steps taken, when inefficiency dictated in the internal control system and to know the effect on accountability of the organization.
2. To ascertain weather there is adequate division segregation of duties at various levels of management in the organization.
3. To know whether there is a system of adequate authorization and recording to provide reasonable accounting control over assets, liabilities, revenue and expenditure.
4. To understand a critical of appraisal of the system generally and suggest solutions where the system is find ineffective.
5. To suggest ways of enhancing early detecting of mistakes, deliberate misappropriation, checks collusion, fraud or embezzlement of fund.

The source of data to be used in this research are both primary and secondary data questionnaire, personal observation, text books, newspaper, magazine, library research etc.

CHAPTER ONE

        INTRODUCTION

In Nigeria, local government reform has been a continuos exercise. No single regime-colonial or indigenous, civil or military, regional or state government that came to power passed without making attempt of reforming the local government system.  Even though the 1976 reform has surpassed all its predecessors, it was in fact part and parcel of the continuing structural adjustment of the country’s political evolution and development.  On the whole, the 1976 reform was a major departure from the previous practice of local government administration; for introduce a uniform system throughout the country.

The reform was first and foremost aimed at giving local government a definite role in the country by making it a functional thrift tier of government.  The 1979 constitution indeed assumed the existence of local governments and provided adequately for its functions and powers in the second republic.  Nevertheless, both it’s existence and functions were to be provided for in a law to be enacted by state government.  According to section 7(1) of the 1979 constitution.

Ikwo local government came into existence in the year 1979 under Enugu state before the present mother state Ebonyi state were created in 1996.

Since then, they have had up to 7 chairman, 10 sole administrator and 6 care taker committee chairman, in total 23 of them among which Mr. V.E Nwoo was the first (Sept. 19979) and Hon. David Onuoha the present

1.1.          BACKGROUND OF STUDY

The subject, financial accountability is vital to any organization be it profit oriented or non-profit oriented.  Lack of financial accountability results in embezzlement, fraud and misappropriation of funds.

The peculiar nature of Nigeria economy has made any topic in accountability, financial or otherwise worth discussing.  The value our society attach to wealth, which nobody is concerned to how wealthy one is, has made many people to begin to pursue wealth by all means thereby ignoring the fact that they are accountable tot he public for the public funds and properties entrusted I their care.

It is due tot he problems mentioned above which are associated with lack of financial accountability in any organization that has motivated the researcher to choose the topic “strategies for enhancing financial accountability in the local government system in Nigeria through a system of control” Ikwo local government area in Ebonyi state has been chosen as a case study in trying to discuss how effective internal control will achieve financial accountability.

Internal control system comprises the plan of organization and all co-ordinating method and measure, adopted within the management to safeguard the assets of the organization, check accuracy and reliability of its accounting data, promote operational efficiency and encourage adherence to prescribed managerial policies.

This research focus on finding if the reference organization has installed this control system and if so, how effective it is as to enhance early detection of mistakes, deliberate misappropriation and equally checks collusion, fraud or embezzlement of funds through proper authorization, reliability of financial records, safe guarding of assets and hence maintenance of financial accountability.

However, the ability of any organization t enhance its financial accountability depends mostly on the type and effectiveness of it’s internal control system.

1.2.          STATEMENT OF PROBLEM

Every policy formulated or constituted would have been a success if they are being carried out.

But adherence to planned policies by employees are the problems of managing organization.  The problem of policy execution is further compounded by the evolution of large organizations.  There is therefore, the need for an internal control system.  Internal control is such an indispensable tool in the hard of management if it wishes to obtain adequate and useful information, protect organization assets and control successive operations which lead to enhancing financial accountability.  Many control procedure whose effectiveness on segregation of duties are being circumvented by the collusion of the employees is yet another problem.  The degree of compliance with the control procedures are often to deteriorate due to negligence of duty.  Carelessness, mistakes and even personal factors.  These factors are problems to the organization and eventually undermine the effectiveness and efficiency of the internal control system if not taken are of:

1. How adequately are subordinates adhering to the internal control measure?
2. What measure should management adopt to test observance of internal control procedures?
3. Should internal auditing be an adequate means of checking circumvention of internal control measure?
4. Should management rely on internal auditing to appraise the efficiency and adherence to internal control?
5. Should the effectiveness of internal control be relief on for adequate financial accountability?

These questions prompt the need for a research study of the kind embarked upon ere, and they are further addressed in subsequent chapter of the project.

1.3.          OBJECTIVE OF THE STUDY

The objective of an organization that maintains a good internal control system is to maintain efficiency, profitability apparatus, viability prospects and of course accountability of the entire organization.  It is the purpose of this study therefore, to have a close look and know if there is any system of internal control existing in the Ikwo Local Government Area.  If there is, to know to what extent this has assisted in attaining financial accountability in the local government area.

The important areas which the researcher want to look into are as follows:

1. To ascertain the step taken, when inefficiency is dictated I the internal control system and to know the effect on accountability of the organization.
2. To know whether there is a system of adequate authorization and recording to provide reasonable accounting control over assets, liabilities, revenue and expenditures.
3. To ascertain whether there is adequate division or segregation of duties at various levels of management in the organization.
4. To understand a critical appraisal of the system generally and suggest solutions where the  system is find ineffective.
5. To suggest ways of enhancing early detection of mistakes, deliberate misappropriation, checks collusion, fraud or embezzlement of funds.

1.4.          SIGNIFICANCE OF THE STUDY

Financial accountability through different effective control has been much discussed in the recent days in Nigeria.  Every programme and policy of organization has accountability as nor of the things that is to be achieved.  Due to lack of internal control system, most people that were entrusted with public funds on many occasions embezzle them without being held accountable for the sum.

Many has led to the folding up of some private and public enterprises,