Abstract:
Internal control systems have become very crucial and indispensable in the Business organizations due to their fundamental roles in the achievement of organizational objectives. The business in the Global world especially, rural and community Banks (RCBs) saw that the inadequate response to effective internal control system has caused the rampant cases of frauds, irregularities and at worse the collapse of some RCBs. Instituting proper and effective internal controls systems in RCBs is a very challenging one due to a number of reasons.
Description:
This chapter forms the introductory part of the study. It deals with the background of the effectiveness and efficiency of internal control systems, problem statement as well as objectives of the study. It also covers significance of the study, methodology, scope and limitations and structure of the study. These are presented below.