Impact of internal control system on risk management - case study of Zenith Bank Plc, Takum branch Department:Business Administration and Management By: SIRJOSEPH Project ID: 8535 Rating: (5.0) votes: 1 Price:₦5000 Get the Complete MaterialAbstractThe current research study was carried out to examine the impact of the internal control system on risk management with reference to Zenith Bank Plc, Takum Branch. In this study, a survey research design was adopted. The population of this study comprises 30 staff working in Zenith Bank Takum. Three research questions were formulated to guide the study. Primary method of data collection was used, where a sample of 30 closed-ended questionnaires was prepared and administered to the respondents in the case study, which were selected using the five-point Likert scale. From the findings, the study concludes that the presence of an internal control system in the bank has provided reasonable assurance regarding the effectiveness and efficiency of operations, the reliability of financial and management reporting and guarantees compliance with applicable laws and regulations. The bank relies heavily on the internal control system for the implementation of policies and procedures. Based on the conclusion, the study recommends that, as the system is being improved, the staff should also be trained to cope with the latest technologies and the challenges of the job. Both in-house and external training should be arranged for the staff of the department. Staff of the Internal Control department should be adequately remunerated. They bear high level of risk. Most people look at them as the police of the organization and therefore they are always at threat. It is unfortunate that most banks pay greater attention to marketing at the detriment of Internal Control; consequently, marketing officers are most rewarded. And Internal Control staff are often regarded as non-contributive staff. This notion is wrong. Because a single fraud that goes undetected can write off the fortune of the bank, the Internal Control staff should be duly motivated to put in their best....Preview Download Preview +Other Business Administration and Management project topics and materials you might be interested in»The Effect of Management Information System on Achievement of Organization Objectives ( A Case Study of Nitel Owerri )»The impact of production planning and control on a manufacturing process ( a case study of Nigeria bottling company aba, abia state)»The Impact of Staff Discipline in the Attainment of Organizational Objectives ( A Case Study of Selected Organizations in Owerri, Imo State )»The Effect of Motivation on Employees Productivity in Anambra State ( A Case Study of Education Commission Awka )»Marketing implication of merger and acquisition in banking industry - a case study of Access bank Plc, Bida branch, Niger state»The Impact of Performance Appraisal on Staff Productivity ( A Case Study of Diamond Bank Plc, Owerri )»The effect of irregular payment of workers salaries on productivity of workers in imo state (a case study of owerri municipal council)»The impact of welfare packages on employees performance (A case study of Nigeria breweries plc Aba)»A critical evaluation of leadership style and organization performance in the private sector ( a case study of selected establishment in abia state)»The Effects of Motivation on Workers Morale ( A Case Study of Power Holding Company of Nigeria, Aba )»Management Problems of Manufacturing Industries in Nigeria ( A Case Study of Nigeria Breweries Plc and Unilever Plc )»Motivation and Employee Performance in Public Sector ( A Case Study of NTA Channel 12 owerri)»An assessment of the impact of modern communication facilities on service delivery in business organization ( A case study of ICT based firms in aba, abia state)»The Impact of Delegation on Management Decision Making ( A Case Study of Zenith Bank Plc, Enugu )»The Role of Customer Service in the Service Delivery of Multinational Companies in Nigeria ( A Case Study of Unilever Nigeria Plc Aba)