CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Traditionally, most of our constitution and institutions arrangement has been the management and accounting of public funds. As a result of this, various rules, regulations and instructions are instituted to guide public officers in the proper conduct of the finance entrusted in their care. The constitution generally sets out total financial management and accounting of the public funds which has been in demand to the public sector more so the rendering or proper stewardship of income and expenditure of public funds.
Management involves responsibility of effective and economically planning and regulation of the operation of the operation of an enterprise which entails controls of the established pattern of accountability over receipts and expenditure of public funds. Public funds should be use for the public purpose so as to obtain proper value for money spent.
Government in the recent times believes at the demand of public financial management that is by ensuring that all financial transaction are properly document and conducted in accordance with providing rules and regulation, but this has proved wrong because public funds can be and quite often sophisticated and embezzled within the frame work of laid down procedures through inflated contract and over statement of bills and the accounting system. The value of law or the system of the organization or the management that do not know and do their works. This work seeks to look into problems and stewardship being carried out.
1.2 STATEMENT OF PROBLEM
This research embarked upon is an impact of internal control system on government ministries i.e. the importance of internal control system in government ministries.
This is so because the importance of an internal control unit in government ministries is for the verification of accounts, check cases of fraud and embezzlement within the ministries. But in recent times most of this controls are no longer functioning as it seems inevitable resulting to misappropriation of funds in such ministries.
The study would address the following research problems:
1.3 OBJECTIVES OF THE STUDY
The objective of the study is to re-examine and re-asses the general financial administration and control system as regard the ministry over revenue and expenditure. It is also to take the various measures, techniques and professionalism used to check the activities of the ministry in such away as to give it the desired attention, remuneration and compensation. More, so as related to the execution, the research is intended to result in determining the effectiveness, efficiency and economical utilization of source resources using public opinion as part of financial administrative control techniques so as to achieve the desired result. The result will help in harmonizing the relationship of the ministry and public so that proper utilization of the public funds is achieved.
Terms of Use: This is an academic paper. Students should NOT copy our materials word to word, as we DO NOT encourage Plagiarism. Only use as a guide in developing your original research work. Thanks.
Disclaimer: All undertaking works, records, and reports posted on this website, eprojectguide.com are the property/copyright of their individual proprietors. They are for research reference/direction purposes and the works are publicly supported. Do not present another person’s work as your own to maintain a strategic distance from counterfeiting its results. Use it as a guide and not duplicate the work in exactly the same words (verbatim). eprojectguide.com is a vault of exploration works simply like academia.edu, researchgate.net, scribd.com, docsity.com, course hero, and numerous different stages where clients transfer works. The paid membership on eprojectguide.com is a method by which the site is kept up to help Open Education. In the event that you see your work posted here, and you need it to be eliminated/credited, it would be ideal if you call us on +2348064699975 or send us a mail along with the web address linked to the work, to eprojectguide@gmail.com. We will answer to and honor each solicitation. Kindly note notification it might take up to 24 – 48 hours to handle your solicitation.