CHAPTER THREE RESEARCH METHODOLOGY 3.1 AREA OF STUDY The area of study o this research work is to determine the effect of monetary policy on the performance of banks in Nigeria. This study will cover all the commercial banks that have been in existence since 1975-2004. More so‚ the aggregates rate is used in assessing their performance. 3.2 METHOD OF INVESTIGATION/SOURCE OF INFORMATION According to Asika (2002)‚ research work can be defined as the restructuring of investigation aimed at identifying
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What is internal control and why is it important The American Institute of Accountants first defined the term internal control in 1949‚ followed by further clarifications in 1958 and 1972. In 1977 publicly held companies came under legislation to adequately implement controls to protect their financial information. A report by the Committee of Sponsoring Organizations in 1992 and the Sarbanes-Oxley Act of 2002 are more recent documents defining internal controls.( Bishop‚ 1991‚p.117-123; Colbert
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competitive retail industry that needs to be managed efficiently and effectively. Vineyard Vines has adopted a system of internal controls to stay on the cutting edge in the industry‚ and provide accountability‚ enabling seamless operation and management. Our process of controls is implemented to ensure integrity within our business‚ corporate governance‚ risk management and fiscal responsibility‚ while preventing fraud. and ill repute. The strong adherence to our internal controls and activities is
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Internal Controls Internal controls are all the procedures and measures companies put in place in order to achieve two specific goals related to accounting (Kieso‚ Kimmel‚ & Weygandt‚ 2011). The first goal is the protection against loss of assets from various sources such as theft or accounting error (Kieso‚ Kimmel‚ & Weygandt‚ 2011). Companies‚ clients and shareholders must have assurance that there is suitable control over all business assets like inventory and bank accounts all the
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Running head: INTERNAL CONTROL Tarsha Jackson Internal Control Walden University ACCT # 6650 Forensic Advance Audit Topics February 10‚ 2013 Internal Control The detection of fraud is depending on what type of fraud and the internal controls that are in place. Rancher‚ Riley and Wells (2011) reported “Statement on Auditing Standards (SAS) No.99 “Consideration of Fraud in a Financial
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Chapter 7 – Internal control Internal control – steps taken by business to prevent fraud – misappropriation of assets and fraudulent financial reporting‚ COSO defines IC as means to an end Achievements of objectives in the area of financial reporting‚ operations‚ compliance with law and regulations Foreign corrupt practices act: Transactions authorized with the knowledge of and authorization of management Means of achieving internal control – preventive control – prevents fraud ex: segregation
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UNDERSTANDING INTERNAL CONTROLS A Reference Guide for Managing University Business Practices Understanding Internal Controls Table of Contents INTRODUCTION .................................................................................................................................................................1 OBJECTIVES ......................................................................................................................................................................1
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| |ASSIGNMENT ON: AUDIT MANAGEMENT | | | |(Topic: Internal Control & Related Aspects) | |
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Keith Hundley Wednesday‚ 8 July 2013 TOPIC 5000 word essay on the importance of tool control and attention to detail Growing up my Father always loved to have my sister and I participate in home improvement projects. While we were less than joyous to help‚ we always ended up learning something whether it was a new skill or technique to develop our work ethic‚ we were always hands-on. My father’s favorite thing to say at the completion of a successful project was‚ and probably still is‚ “the
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FNSACC50A Implement & Maintain Internal Control Procedures ASSIGNMENT 1. Who is ultimately responsible for the corporate governance of an organisation? The Board of Directors 2. Who else plays a part in corporate governance? Shareholders‚ auditors and other stakeholders. 3. Who are the stakeholders? A person‚ group or organisation that has interest or concern in an organisation. 4. List the corporate governance requirements a company needs to adhere to: The company has an adequate
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