THE IMPACT OF MONITORING AS AN IMPORTANT COMPONENT OF INTERNAL CONTROL SYSTEM ON PRODUCTIVITY

Abstract

The main objective is to assess the effect of monitoring as an important component of internal control system on productivity and recommend ways of managing it in Ghana Telecom, Kumasi the leading company in the telecommunication industry in Ghana.Using the conventional questionnaires administrative, interviews and observations, analysis or data collected from the staff or Ghana Telecom, Kumasi to know how internal controls and to emphasis on the monitoring component and to know how it affect productivity. It also found out that management had little attention for internal control systems. Furthermore, it was observed that management does not review internal controls regularly and in time.It is recommended that management should manage the internal control system of the company with emphasis on monitoring as an important component of an internal control system by:I. Periodically find out the extent to which the workers are working with the internal control system through questionnaire to the staff. 2. Making the internal control system flexible for changes in environmental and technological changes.3. Open door communication policy.4. They should also aim at putting in place forcible indicators of internal control system with emphasis on the monitoring component.The study concluded that staff performance has drop as a result of less monitoring of the internal control system of the company.