Accounting as an Aid to Internal Control System

Accounting as an Aid to Internal Control System

One major problem of management is planning but planning is useless if it is not implemented. And the success of any plan is based on adequate control and monitoring in order to achieve the required objective.Therefore any organization wishing to conduct it business in an orderly and efficient manner and to produce reliable financial accounting information for its own and other use, needs some controls sot minimize the effect of the inherent limitation

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The researcher is researching on accounting as an aid to internal control system. (Enugu State).

Accounting can be defined as the art of recording and giving result of business transaction to the client. Accounting like any other filed has its origin. Accounting probably came into existence between 14th to 16th centuries. As development come in day-by-day the managements of who are not directly involved needed summarizes of transactions so as to enable them understand the positions of the business without the need of going through the books in details.

On the early Greek and Roman account the principle was centered on the need to keep tracks of the assets and they exercise control over those entrusted with property. The primary purpose of accounting is for stewardship. It will be rightly said that the earliest form of accounting reveals the preoccupation with internal control. Internal control is an important tool by which management aim to achieve its objective.

DE PAU L FRM, AND DE PAUL F.C. defined internal control as:

“Practically a continuous internal audit carried on by the staff itself through which individual is independently checked by other member of the staff”.

Internal control system does not make fraud impossible but makes it more difficult thereby giving chance of direction, and act as a valuable moral check. The essence of internal control being therefore to show whereby true ownership is separated from the management, the owners will be in no doubt that their assets and resources are efficiently managed.

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Control has to be exercised over all the aspect of business without which the system is likely to be ineffective and too costly to operate in relation to benefit relieved.


Government accounting system has a way of presenting an accounting for the fund. Foe example, income and expenditure or revenue and expenditure accounts and held by government establishment in government system, officers do not keep the account like profit making organization. There is a lots of lapses in cash office and pay roll section of many government ministries, cases of fraud and missing of office and files containing important documents like bills, IPO etc. where owners of such document refuses to oil the palms of clerks. Loopholes, misappropriation of fund, recording of materials/goods that are not yet supplied and issued to contractors not complying with the state financial instruction in accounting system.

Burning down several prominent public owned institutions like the former Anambra Broadcasting Service (now ESBS) building.

In all these problems one thing is that accusing fingers are always pointed at frauds.  Due to all this anomaly or problems the researcher chose this topic to look into the effect and also to recommend solutions to it.


The purposes of this study are as follows:

1)    To ascertain accounting as an aid to internal control system in Enugu State.

2)    To know if the management complied with the established accounting system.

3)    The researcher intends to view the function of internal audit department of much government parastatal with a view of finding out the extent to which they have been able to perform the duties as the watchdogs of the internal control system.

4)    To determine the degree of reliance of the internal control.

5)    To identify possible loopholes (if any) and relevance of the present adopted controls in order to correct it.

6)    To analyze critically the 0soundness, adequacy and application of various internal control of accounting records.

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7)    To recommend based on finding of the study.


The research will be of significance to the entire government and other public. This research study also aids the management based on the recommendation, to ascertain if the government has been able to achieve its objectives as established.

The beneficial effective ness accounting as an aid to internal control be over emphasized. Fraud and misappropriation of frauds are the bane of society.

The study would also benefit the future researchers who would be interested in carrying out a further research work in the same field.

And to recommend principles that will wipe away inefficiency laxity in the collection of revenue and misappropriation of fund.

Finally this study has also been a source of inspiration and this researcher found it very valuable to his academic advancement. It has exposed him to so many things.


Internal control is very wide that it cannot be covered with one research given. Limitation of time and resources. One of the limiting factors is timing. Timing limitation within which to cover the research also posed a problem. Due to time constraint, the research has decide to limit her research to five main division of account.

a)     Cash control

b)    Payroll control

c)     Store control

d)    Overhead cost (personnel cost)

e)     Fixed assets control.


Internal Control System: This is the whole system of control, financial and otherwise established by the management in order to carry on the business of the enterprise in an orderly and efficient manner, ensure adherence to management policy, safeguard the assets and ensure as far as possible the completeness and accuracy of records. Payment Voucher: This is a document, which the payer fill before payment is made to the payee.

Receipt Voucher: This is a document that those who pays in money due to government fills that enables the revenue collector to issue official receipt to the paper.

Voucher Schedule: This a form used to save voucher to sub treasury.

Salary Advance: This is a special loan to staff and the amount will be deducted from the officer’s salary in three installment.

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Cashbook: This is used to record all receipts and payment or revenue and expenditure.

Treasury Receipt Book: this is a receipt issued to people that makes payment to the government.

Store Receipt Voucher (SRV): This is the document acknowledging receipt of goods delivered to the stores.

Store Requisition: An official receipt for a certain quantity of goods to be issued from store.

Store Issue Voucher: A document on which goods issued are stated.

Local Purchases Order (LPO): This is the letter of authority to local dealer asking him to supply the specific quantity of goods at a given price.


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