PROBLEMS AND PROSPECTS OF DESIGNING INTERNAL CONTROL SYSTEMS FOR SMALLER ENTITIES
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Internal controls are designed to provide reasonable assurance regarding the achievement of an organization’s objectives in terms of effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations. It is generally believed that small and medium scale enterprises are the pillars on which the economy of a country rests, especially a developing economy like Nigeria. The ...
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