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| Format: Ms Word | 1-5 Chapters | Table of Content|


Study Level: BTech, BSc, BEng, BA, HND, ND or NCE

Amount: ₦3,000.00


In an attempt to overcome envisaged problem in the presentation of accounting information and the system internal control, the government made a leading statement and regulations which serve as a yardsticks by which an accounting system could be measured. Also accounting and Auditing professional bodies laid town some guidelines, which will guide their member, and all practicing Accountants and Auditor in the performance of their professional duties. It is pertinent to note that several cases of frauds, misappropriation of public funds, looting of public properties, and other irregularities in connection with public funds have been reported in different establishment in our country which West African Examination Council is not exceptional. Therefore, it is the aim of the research to use this study entitled “internal control an examining body” to ascertain the effectiveness of control system employed in government owned establishment by using the laid down rules and regulations as parameters.

1.3 Purpose if the Study:
The mission statement of the study is to find out the effort made by government institution including the bodies towards ensuring compliance with the set out police, guidelines and procedures as laid down by Auditing standards and guidelines and the financial Regulations. Internal Audit function however, need to be reviewed in order to find out the extent it is performing its duties as the internal control system watchdog. Also there is need to ascertain the objectives of internal control the basis for its development and factors militating against it smooth running. Questions on whether the control measures employed by the examining bodies are adequate relevant and reliable as to ensure the safety of assets, completeness and accuracy of record should be ensured. Finding, recommendations on how to improve on the arrears of weaknesses (if any) will be given.

1.4 Scope and Limitations:
Due to the versatility of internal control, it is not possible to deal with it exhaustively going by limitations in time and resources.In the first place, the time limit is applicable in that the researcher has to handle this as well other courses that will hardness the successful completion of the programme. Another limiting factor boils down to finance. This has made the research not be detailed because of the hard economic situation in the country and its consequences. Consequence to the above limitation, the scope of thee research work has been reduced to a manageable level.
The study will be restricted to examining bodies with particular reference to the Nationals Examination Council (WAEC) Enugu zonal office and will further be narrowed to four (4) main divisions of internal control viz
1.  Fixed asset control
2.  Cash control
3.  Stock maintenance
4.  General financial

1.5 Significance of the Study:  
Fraud of all kind and misappropriation of funds and properties are invoked in most government establishment of which the examining bodies are part of the posterity. In order to achieve the corporate objective and the needed fulfillment of the individual employees, there is need for the system of control to be adequate in design, effective and efficient in operations.Government who is the main provider of funds and resources for these organizations will benefit from this study; as the maternal control system is to conserve funds and resource.Other who will benefit from this study are the employees of these examining bodies who are dependent upon these organizations for their livelihood. Also future researcher and students may find the study very relevant and beneficial.Finally, the attendant increase in the examining bodies, this study entitled “internal control in an examining bodies will be of immense interest to the prospective candidates.

1.6  Research Questions
The following research questions were formulated by the researcher:
1.          What are the impacts of internal control system in West African Examination Council?
2.          How effective is the internal control system in West African Examination Council?
3.          What are the problems encountered by the internal control unit of the organization?
4.          How adequate is the control measures employed by the examination body?
5.          How can the problems be solved?

1.7 Statement of Hypothesis:
Below was the hypothesis-formulated test the effectiveness of internal control system in an examining bodies using West African Examination (WAEC) as a paradigm: The internal control system in the West African Examination is ineffective.

1.8 Definition of Terms:
For clarity and common understanding misinterpretations the following specialized terms are hereby defined:
-Internal Audit: This is an independent appraisal function with an organization for the review of system of control and the quality of performance as a service to the organization. Their objective examines, evaluates and reports adequacy of internal control as a contribution to the proper economic, efficient use of resources.
-Internal Check: Continuously as part of the routine system, whereby the work of one person is proved independent or is complementary to the work of another. The rationale behind this is for prevention or early detection of errors and delegation and fraud. It includes matters. Such as delegation and allocation of authority and the division of work, the method of recording transactions, and the use of independently ascertained total against which a large number of individual items can be proved.
-Vouching Audit: This is a method of auditing which involved a consideration of each entry in the book and vouching the available evidence to support each entry, the evidence usually consist of document and papers and should satisfy the auditor that.
(a)   the transaction was authorized by the management.
(b)   The transaction was correctly and adequately described by the entry in the book.
(c)    The entry is correctly incorporated in the final accounts.
(d)   The transaction came within the aims and objectives of the organization.


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