THE
ROLE OF LOCAL GOVERNMENT IN COMMUNITY DEVELOPMENT
DEPARTMENT OF PUBLIC ADMINISTRATION,
FACULTY
OF MANAGEMENT SCIENCES
EBONYI STATE
UNIVERSITY, ABAKALIKI.
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
When banks
suddenly collapse, the often resounding question is “what went wrong”. A
breakdown in the internal control system is the usual cause. Internal control
is a process that guides on banks and other companies towards achieving its
objectives. These objectives include operational efficiency and effectiveness,
reliability of financial reporting, and compliance with relevant laws and
regulations. Absence of these variables often results in banks failures.
Thus,
in managing and implementing an internal control system of a banking industry,
computerization of accounting system is crucial. An important question in the
field of accounting and management decision making concerns the fit of
accounting information system (AIS) with the banking requirements for
information , communication and control (Nicokou, 2000). The strength of
accounting information system can be evaluated by its impact on improvement of
banking decision-making, quality of accounting information, performance
evaluation, internal controls and facilitating banks transactions (Sardy,
Dastgir and Negad, 2008). Therefore regarding the above characteristics, the
effectiveness of accounting information system is important for banking
performance.
Computerized
accounting used computer to replace manual, achieve accounting afterwards,
reimbursement and auditing accounts and to replace part of the human brain need
to be completed by the accounting data, statistics analysis as well as provide
the decision-making process. Thus, development of accounting request is to
develop requirements while internal control in the banks is to protect the security
of banking assets, ensure complete and accurate data to facilitate the
effective implementation of management policies, improve operational
efficiency, control operational risks, prevent fraud from occurring and the
achievement of organizational goals and a key management system.
In
recent years, Access Bank attaches great importance to internal control and
issued a series of specifications and guidance to promote management decisions,
protect the property, integrity, security and accounting data that will ensure
banks carrying out various policies and implementation in order to improve
economic efficiency by taking all the systems, methods and ensure management
procedures as part of the accounting internal control. In other words, a
computerized accounting directs the management guidelines to ensure the
realization of double entry book keeping accounting and loan balance of the
basic principles and methods.
However,
the strengths and weaknesses of accounting information, processing computer
automation has brought challenges to the banks accounting system. The
computerized accounting system has brought to the bank, faster and efficiency
in processing data, automatic generation of accounting documents like invoices,
cheques and statement of accounts, more timely information, no more manual
processing of the data-all automatically been posted to the various ledger and
generate useful reports for management to make decisions. Equally, weaknesses
from the computerized system has brought power failures, computer viruses,
garbage- in garbage- out, and danger of computer fraud if proper level of
control and security whether internal or external are not properly been
instituted.
Furthermore,
with the larger reductions in the cost of hardware, software and availability
of user friendly accounting software package, it is relatively cheaper than
maintaining a manual accounting system. In other words, accounting system not
properly set up to meet the requirement of the business due to badly programmed
or inappropriate software or hardware or personnel problems can cause more
havoc.
Indeed,
a computerized accounting system to strengthen the internal control is
imperative. Computer use has changed the banking environment and accounting
documents in the form of a computerized accounting system. Since e-banking,
online transactions, the implementation of paperless transactions as each
transactions occurs, the relevant data relating to the transaction by the
banking staff entered into the computer and the computer automatically records
each transaction.
Indeed,
without the authorized personnel the use of computer and all the files, copy,
forgery, destructions of critical banking data will be rampant in the banking
industry. Therefore, computerized accounting system of internal control is not
only difficult, complex but also a variety of means to control the computer
technology.
Prior
researches have shown that accounting information system adoption does
increased banks performance, profitability and operations efficiency in
sub-Saharan Africa. In Nigeria, information society and the new computer tools
have allowed the Access Bank to make better use of her accounting system in.
her relations with customers. In the same way, the development of electronic
banking allows the bank to save a lot of time in her transaction. Thus, the
present study attempts to provide some clarification of the relationship
between banks internal control, accounting system and performance of accounting
information system (AIS) especially on Access Bank performance and performance
management. The structure of section 2 reviews the relevant literature, gap in
literature and theoretical framework of analysis, section 3 describes the
empirical methodology, section 4 present results from the statistical analysis
of hypotheses, section 5 presents the discussion of the finding from the
statistical analysis and section 6 presents the summary and conclusion of this
study, provides limitations of the current study and points out some
recommendations for further research.
1.2 Statement of the Problem
The
issue of internal control system is topical following global fraudulent
financial reporting and accounting scandals in our banking industry. A
proactive preventive approach to the problem requires a critical evaluation of
existing internal control structures in banks to determine their capacity to
ensure that the banks activities are carried out in accordance with established
goals, policies and procedures.
The
problem of the study emerges that the used accounting system in Access Bank is
a very conventional one and must operate a new computerized system so as to
keep abreast of development and technical progress. (Elaiwi, 2009) confirmed
that using information technology has become the target of Access Bank which
encouraged competition and technological progress on the computerization of
information system where the system helps to plan, organize, control and
supervise.
The
research found through personnel interviews and previous studies some of the
obstacles to include, the inadequate internal framework of checks and balances
to ensure operational efficiency and effectiveness in Access Bank, while some
of the studies such as (Eke, 2009, Madumelu, 2011) took some of the obstacles
that leads to power failure, computer viruses, accounting scandals, in a
computerized accounting system in the Access Bank to include human resource and
administrative inefficiency.
If
accounting information system (AIS) design can be linked to financial
performance and financial performance linked to banking performance, the
analysis shows that infrastructural affect on the computerization of accounting
system in the Access Bank affects the internal control of the bank.
1.3 Objectives of the Study
The
study aims to know the followings;
1. To ascertain whether internal controls
provide adequate internal framework of checks and balances to ensure
operational efficiency and effectiveness Access Bank.
2. To ascertain whether internal controls
provides adequate documentation and updates of changes even as computer virus
and power failures occur in Access Bank.
3. To ascertain whether accounting
scandals is as a result of the incompetence of human resource in the computer
operations Access Bank.
4. To ascertain whether infrastructure
affects the administrative efficiency of the Access Bank operations.
1.4
Research Questions
The following
research questions will be used in solving the problems of the study. They
includes,
1. How does the management of internal
control provide adequate internal framework of checks and balances that ensure
operational efficiency and effectiveness in Access Bank?
2. To what extent is internal control
system in the Access Bank adequately documented and regularly updated as
changes occur due to computer viruses and power failures?
3. How does the human resources affect the
computerization of the accounting system in the Access Bank lead to accounting
scandals?
4. To what extent is infrastructural
development on the administrative efficiency affect the computerization of the
accounting system in Access Bank?
1.5 Statement of Hypotheses
Based on the
questions raised in the problem of the study the following hypotheses have been
formulated.
Ho 1. Internal control does not provide adequate
internal framework of checks and balances that ensure operational efficiency
and effectiveness in Access Bank.
Ha 1. Internal
control provides adequate internal framework of checks and balances that
ensures operational efficiency and effectiveness in Access Bank.
Ho 2. There is
no significant impact of human resource control on the computerization of the
accounting system as regards virus and power failures in Access Bank.
Ha 2. There is a
significant impact of human resource control on the computerization of the
accounting system as regards virus and power failures in the Access Bank.
Ho 3. There is
no significant impact of infrastructure in the computerization of the
accounting system as a result of administrative efficiency in Access Bank.
Ha 3. There is a
significant impact of infrastructure in the computerization of the accounting
system as a result of administrative efficiency in Access Bank.
1.6 Significance of the study
The
significance of the study came from theoretical and practical contribution
through revealing the importance of using the computerized accounting system of
internal control in the banking industry, so the decision makers keep pace with
technological development in the financial institutions within the global
village. The development of information technology helped banking staff to
achieve operational efficiency and effectiveness, financial reliability and
accounting balance. The contribution of this study is to encourage the decision
makers in the banking industry that using the computerized accounting system will
lead to a transition from scarcity of information to the state of abundance of
information, as well as to the quality of appropriate information that gives
objectivity and integrity.
While
the theoretical contribution of this study used new variables that the previous
studies didn’t use in measuring the dependent variables such as time, cost
administrative performance and decision for change. This study will also help
in having the possibility to implement a computerized accounting system in the
banking industry because of the savings of time, effort and cost. It will also
help to correct the obstacles that hinder the computerization of the accounting
system in the banking industry. The importance of this study also is to keep
pace with the technological developments in accounting as considered a system
of information specialized in generating the information data of an economic
nature. It will also serve as a reference point to academia’s and researchers.
1.7 Scope and Limitations of Study
The
scope covers the entire Access Bank Plc, Abakaliki branch. It will covers (2001-2011),
a period of ten (10) years.
In
the course of the study, the researcher employed his best to ensure a genuine
and accepted research report that will be generally accepted. However, there
were some constraints that are met along the line, some of which were finance.
The researcher hadn’t enough money to carry on the project and the government
and university management was not willing to provide any assistance.
Time
also contributed to the delay of the work. This is because the time frame
required to complete the work was small. In other words, the universities
constant strike action by the academic staff union of universities (ASUU) contributed
immensely to the delay of the work. This
is because, as the lecturers went on strike, they were not attending to the
students and every work was kept dormant pending when the strike was called
off.
Again,
materials needed to put down the review of related literature were scarce and
the researchers moved from one branch of the bank to another in search of
materials. However, in spite of these numerous constraints, the researcher was
able to make reasonable progress in the end.
CHAPTER
TWO
REVIEW
OF RELATED LITERATURE
2.1 Conceptual Framework.
In
order to determine internal control efficiency evaluation principles, it is
important to analyze the conceptual framework of internal control. According to
the institute of internal controls (Taylor and Glezen, 2011, Ochulor, 2010),
internal control is an independent appraisal function established within the
banking industry to examine and evaluate its activities as a service to the
banking operations. By measuring the effectiveness of organizational controls,
it is an important managerial control device (Carmichael et al, 1996) which is directly linked to the banking structure and
the general rules of banking business (Cai, 1997).
Sawyer
(2007) stated that internal control is a systematic, objective appraisal by
internal auditors of the diverse operations and controls within an organization
to determine whether financial and operating information is accurate and
reliable, risks to the bank are identified and minimized, external regulations
and acceptable internal policies and procedures are followed, satisfactory
operating criteria are met, resources are used effectively and economically and
the banking objectives are effectively achieved.
Specifically,
control environment reflect the attitude and the policies of management in
regard with the internal audit in the economic unit. On the one hand, control
environment is influenced by the history and the culture of economic unit. On
the other hand, control environment has a pervasive influence on the way banking activities are structured that
sets a positive and supportive attitude towards internal control and
conscientious management (Aldridge and Colbert, 1994). In regard with risk
assessment, it can be claimed that it is the identification and analysis of
relevant risks associated with achieving the banking objectives (Karagiorgos, et al, 2009).
Hevesi
(2008), control activities are the policies, procedures and mechanisms that
enforce management’s directives. Computerization refers to the identification,
capture and communication of pertinent information in as appropriate form and
time frame to accomplish financial reporting objectives. Effective
communications should occur in a broad sense with information flowing down,
across and up the organization. It is commonly acceptable that internal control
system need to be monitored in order to assess the quality of the system’s
performance overtime and by monitoring it is ensured that the findings of
audits and other reviews are promptly resolved.
Adeyemi
(2010) computerization in the banking industry are systems that operate
functions of data gathering, processing, categorizing and reporting financial
events with the aim of providing relevant information for the purpose of score
keeping, attention directing and decision-making.
In
the financial performance, Chenhall and Morris (1996) described accounting
information system to the perceived usefulness of scope, timeliness, level of
aggregation and integration. Scope refers to the measures being used and to the
extension of accounting information system in time and space.
Gardin
and Greve (2009) Accounting information system are considered as important
organizational mechanisms that are critical for effectiveness of decision
management and control in the banking organization. Performance management
includes activities that ensure that goals are consistently being met in an
effective and efficient manner.
2.2 Effects of internal control system in Access
Bank
Ochiagha
(2012), In the computerized environment, the computer system of internal
control is converted from a single manual control, manual and procedures for
joint control. As the computerized system of internal control has a combination
of manual control and process control features. Computerized system in many
applications include an internal control functions of these programs depending
on the internal control applications such as the proceeding is taking place
errors or does not work, because procedures for repetitive movements, making
control of the long term failure is not found, so that specific aspects of the
system errors or irregularities occurring more likely.
Udoma
(2012), In a computerized accounting system (AIS), appropriate documentation of
transactions and other significant events are clearly done and always available
for examination. The documentation paper appear in management directives,
administrative policies or operating manuals in electronic form. Accounting
information system records all documents properly for management in controlling
operations and making decisions.
Murtala
(2010), unlike the manual accounting that economic operations are recorded on
paper, computerized system is a process whereby original paper-based accounting
data is recorded directly to disk or CD-Rom and can be easily removed or
tampered with since technically illegal changes of electronic data can be
achieved without leaving traces, which is difficult to business records. In
addition, the electromagnetic medium susceptible to damage, so accounting
information also exits the risk of lost or destroyed.
Bolaji
(2009), the introduction of computer technology in the banking industry added
to the industry a new accounting work and also a new control measures as well
as corresponding expansion of the system access control, change control of the
programme and security of accounting information within the disk protection,
computer operations management, system administrators and system maintenance
personnel.
Okorie
(2011), computerized accounting in the banking industry transactions are
authorized access to resources and records and should be limited to authorized
individuals and accountability
for their custody and use should be assigned and maintained by authorized
staff. Periodic comparison of resources with the recorded accountability should
be made to help reduce the risk of errors, fraud, misuse or unauthorized
alteration.
Ogbu
(2011), internal control help in the appropriate documentation of transactions
and all transactions and other events need to be clearly done and the
documentation readily available for examination. The documentation should
appear in management directives, administrative policies, operating manuals or
electronic form.
Onah (2010), Computerized accounting system of internal control reflects
in the work in the process of system development and banking development.
Development controls includes the development of pre-feasibility studies,
capital budgeting, economic evaluation, development process of system analysis,
system design, system implementation as well as assessment of existing system,
system updating the feasibility study to update the program decision making.
Onuigbo (2009), internal control provides the following development
controls for efficient financial reporting, and banks achieving of her expected
benefits. They include,
1. Meet
the standard in norms: A computer accounting system and development of
projects, both on the banking development are necessary to follow the
departmental requirements.
2. Staff
training: Computer accounting system should be necessary during the
development phase of the system on the use of personal training, to improve
their staff awareness and understanding of the system in order to reduce the
system running the risk of error.
3. System
Conversion: Internal control help the management to put a new computer
accounting system into use, replace the existing manual accounting system, and
do the conversion process to respond to the banks specific use. Bank
transformation in the system should be done regularly for efficiency in the
delivery of services.
4. Change
control procedures. Change in banking activities and environment may lead
to the use of the software to be modified. In order to actualize the objective,
internal control has a role of modifying
accounting software, modifying the process every step must be set to the
necessary control in order to meet up with the banking objectives.
Akabuogu (2008), internal control help staff through computerized
accounting system on accurate record of data and as well financial upkeep of
the banks. The information is timely filled and a set up of complete file
system and strengthen records management.
Obadan (2006), Internal control the staff to record the management data
output control to ensue that the data is accurate, reliable and taken to the
various control measures.
2.3 Challenges of Computerized Accounting
System
Okonkwo
(2011), Source of power is a key strength to any banking operations. It
motivates and enhances the operations of computerized accounting system.
Therefore, power failure has brought a lot of challenges to the computerization
of accounting system in the banking industry. It is a situation that defies the
internal control of any organization. It limits the level of effectiveness of
the banking staff as Power failure draws the operations into the initial stage whereas customers needs are delayed. To this
ends, management of the banking industry should do everything possible to avoid
such enormous problems.
Zajac and Pearce
(2010), virus destroys every information stored in the computer system. It puts
the management of the bank into mess. Indeed, computer viruses and hackers are
the inherent problems of using computerized system. If virus occur, data saved
may delete and if not saved in a removable disk, information already saved
would be found missing. In order to affect this challenge, adequate monitoring
of the computer system should be accomplished through on going monitoring
activities, separate evaluations or a combination of the two. On going
monitoring occurs in the course of operations. It includes regular management
and supervisory activities and other actions personnel take in performing their
duties. The scope and frequency of separate evaluations will depend primarily
on an assessment of risks caused by virus and the effectiveness of on going
monitoring procedures. Internal control deficiencies should be reported
upstream with serious matters reported to the top management and the board.
Ekechukwu
(2011). Accounting system not properly set up to meet the requirement of the
banking system due to badly programmed or inappropriate software or hardware or
personnel problems can cause more havoc. Appropriate documentation of
transactions and all transactions and significant events need to be clearly
done and readily available for
examination. The documentation appears in management directives, administrative
policies or operating manuals. Thus, If the information system is not properly
set up to store all documentation and
records, the transactions recorded to
maintain the relevance and value to management in controlling operations and
making decisions, may be inefficient.
Ugbana (2005),
Once data been input into the system automatically the output are obtained,
hence the data being input needs to be validated for accuracy and completeness.
This throws a lot of challenges in the accounting system.
Ige (2006),
Danger of computer fraud if proper level of control and security are not
ensured contributes threat to the computerization in the accounting system. Also,
affordability, accessibility and timeliness of short-term and export credit are
seen as a major risk because if access is not easy to measure, it might lead to
computer fraud or the defrauding of the bank by a staff of the bank or
fraudsters.
Peters (2012),
Good governance ensures quality management and efficiency in operations.
Managerial inefficiency constitutes a threat in a computerized accounting
system. If top managers fails to seek information from their subordinates
before carrying out decisions, their subordinates may wish not to declare
important issues that may defer the operating of the bank as well result to
inefficiency in administration.
Anoke (2011),
Corruption has remained the major hindrance in Nigeria’s banking industry. The
managers always offer loans to their customers without proper evaluation of the
customers assets as collateral. At times, they offer loans without collateral
and all these will not appear in their record. This corruption takes place at
all levels in the banking industry. Indeed, corruption at all levels brings
problems in the computerized accounting system in Access bank. Due to the
corruption in the system, fraud, crime and operational inefficiency controls
the system and this leads to most bank collapse.
Julian(2010),
inexperience in a computerized accounting operation can bring damages and
failure in banking operating efficiency.
If someone who is not experienced is allowed to handle the operations
system, it will result to mistakes which will affect the documentation and
records of accounting statistics and as well imbalance in the final accounting
records thereby posing a challenge to the banking industry.
Quarrels among
staff in the computerized accounting information system section will result to
operational inefficiency controls in the system and this leads to banking
failures.
Njoku (2013),
politics among top managers is another challenge that affects the computerized
accounting information system among commercial banks in Nigeria. Top managers
may be on a show of who takes the maximum profit share, whose decision the junior
staff follow among others and this automatically affects the operations and
management of the internal control.
2.4 Academic Review
Several
empirical literature on the analysis of internal control in a computerized
accounting system in the banking industry were reviewed. Siddiqui and Dodder
(2009) examine the effectiveness of financial audit of banking companies
operating within Bangladesh. The audited financial statements of 14 sample
banking companies have been analyzed. The study identifies seven sample
companies that have actually overstated their profits. Hence, the research
explores the level of independence, objectivity and competence of the auditors
assigned for auditing banking companies.
Douglas et al (2005)
examine the internal audit function in the banks of Turkey. To achieve its
purpose the following methodology is used; 25 questionnaires were sent to
internal auditors in the banks of Turkey and 14 were answered representing 56%
of the total questionnaires distributed, while 90 different questionnaires were
sent to auditors and 50 were answered representing 56% of the total
questionnaires distributed. The analysis of the survey answers indicates that
the importance of internal audit in the banking sector is increased by the
usage of computers and the international extension of banks. Furthermore, the
result show that the number of internal auditors is related with the size of
the bank. Regarding the education of internal auditors, the result reveals that
usually internal auditors have graduated from universities and have studied
accountancy. Finally the research highlights the growing importance of internal
auditing in banking success.
Routoupis
and Tsanis (2008) reviewed three case study approaches in analyzing the
attitude of Greek banks with regard to the application of risk based approach.
The Greek law, the bank of Greek and international regulations impose internal
control in the Greek bank sector. However, the Greek banking credit
institutions ignored most regulations. The result of the research show that the
standards of internal auditing requires the adoption of risk based approach
from internal auditors. Unfortunately, this requirement is not being into
practice. Thus, the Greek banks adopts an intermediary approach of internal
auditing that takes into consideration the risks, without estimating and
managing them.
Khana
Khana and Kaveri (2010) examined the
implementation of risk based internal audit in India banks. To accomplish the
goals of the survey, a structured questionnaire was mailed to 43 banks in India
both “the public and private sectors”. A total of 25 banks, all public sector
banks and six private sector banks have responded to the questionnaire mailed.
The findings showed that the banks have made sufficient progress in introducing
risk based internal audit. This refers to their understanding of methodology
for the assessment of risks, audit procedures and implementation of audit
report.
Palfi
and Muresan (2009) examined the importance of a well organized system of
internal control in regard with the bank sector. The sample was based on 25
credit institutions of Romania. The analysis of the survey answers reveals that
the continuous collaboration based on periodical meetings between all
structures of bank, characterizes an effective internal audit department.
Abu-Musa
(2010) investigates the existence and adequacy of implemented security controls
of computerized accounting information system in the Saudi Banking sector. The
result of study reveals that the vast majority of Saudi banks have adequate
security controls in place. The results also enable managers and practitioners
to better secure their computerized accounting information systems and to
champion the security of information technology for the success of their banks.
Ademola
(2011) examined the existence and adequacy of implemented security controls in
the Egyptian banking sector. The results of the survey pointed out that the
vast majority of Egyptian banks have adequate security control in place. The
result also revealed that the computer departments pay relatively more
attention to technical system controls while internal audit departments
emphasized more of the behavioral and organizational security controls.
Finally, the study provides valuable empirical results regarding inadequacies
of implemented CAIS security controls and introduced some suggestions to
strengthen and improve the security controls in the Egyptian banking system.
Bongele
(2012) investigates the appropriate review between designing of accounting
information system and performance of commercial banks units by analyzing
strategies. The findings using the
United Bank for Africa reviews that high performance of commercial units
depends on wide range of accounting information system. Other finding reviewed
that banks systematically vary their accounting information system to support
their chosen strategy recognizing that accounting information system have the
potential to facilitate strategy management and enhance organizational
performance.
Akpeti (2012)
examine the internal audit function in the banks of Lagos. To achieve its
purpose the following methodology is used; 25 questionnaires were sent to
internal auditors in the banks of Lagos and 14 were answered representing 56%
of the total questionnaires distributed, while 90 different questionnaires were
sent to auditors and 50 were answered representing 56% of the total
questionnaires distributed. The analysis of the survey answers indicates that
the importance of internal audit in the banking sector is increased by the
usage of computers and the international extension of banks. Furthermore, the
result show that the number of internal auditors is related with the size of
the bank. Regarding the education of internal auditors, the result reveals that
usually internal auditors have graduated from universities and have studied
accountancy. Finally the research highlights the growing importance of internal
auditing in banking success.
Adedinran
(2011) reviewed three case study approaches in analyzing the attitude of Iraqi
banks with regard to the application of risk based approach. The Iraqi law, the
bank of Iraq and international regulations impose internal control in the Iraq
bank sector. However, the Iraq banking credit institutions ignored most
regulations. The result of the research show that the standards of internal
auditing requires the adoption of risk based approach from internal auditors.
Unfortunately, this requirement is not being into practice. Thus, the Iraq
banks adopts an intermediary approach of internal auditing that takes into
consideration the risks, without estimating and managing them.
Mary
(2012) examined the implementation of risk based internal audit in Pakistan
banks. To accomplish the goals of the survey, a structured questionnaire was
mailed to 43 banks in Pakistan both “the public and private sectors”. A total
of 25 banks, all public sector banks and six private sector banks have
responded to the questionnaire mailed. The findings showed that the banks have
made sufficient progress in introducing risk based internal audit. This refers
to their understanding of methodology for the assessment of risks, audit
procedures and implementation of audit report.
Pandy
(2009) examined the importance of a well organized system of internal control
in regard with the bank sector. The sample was based on 25 credit institutions
of Sweden. The analysis of the survey answers reveals that the continuous
collaboration based on periodical meetings between all structures of bank,
characterizes an effective internal audit department.
Amaka
(2010) investigates the existence and adequacy of implemented security controls
of computerized accounting information system in the Iranian Banking sector.
The result of study reveals that the vast majority of Iranian banks have
adequate security controls in place. The results also enable managers and
practitioners to better secure their computerized accounting information
systems and to champion the security of information technology for the success
of their banks.
Aniezi
(2012) examined the existence and adequacy of implemented security controls in
the UAE banking sector. The results of the survey pointed out that the vast
majority of UAE banks have adequate security control in place. The result also
revealed that the computer departments pay relatively more attention to
technical system controls while internal audit departments emphasized more of
the behavioral and organizational security controls. Finally, the study
provides valuable empirical results regarding inadequacies of implemented CAIS
security controls and introduced some suggestions to strengthen and improve the
security controls in the UAE banking system.
Igboji
(2012) investigates the appropriate review between designing of accounting
information system and performance of commercial banks units by analyzing
strategies. The findings using the Stanbic IBTC Bank reviews that high
performance of commercial units depends on wide range of accounting information
system. Other finding reviewed that banks systematically vary their accounting
information system to support their chosen strategy recognizing that accounting
information system have the potential to facilitate strategy management and
enhance organizational performance.
Pinnacle (2012),
examine the internal audit function in the banks of New York. To achieve its
purpose, the following methodology was adopted. 50 questionnaires were sent to
internal auditors in the banks of New York and 28 were answered representing
56% of the total questionnaires distributed while 90 different questionnaires
were sent to auditors and 50 were answered representing 56% of the total
questionnaires distributed. The analysis of the survey answered indicates that
the importance of internal audit in the banking sector is increased by the
usage of computers and the international extension of banks. The result also showed that the number
of internal auditors is related with the size of the bank. Regarding the
education of internal auditors, the result reveals that usually internal
auditors have graduated from University and have studied accountancy. Finally,
the research highlights the growing importance of internal auditing in banking
success.
Dogoyaro (2011),
reviewed three case study approaches in analyzing the attitude of south-south
Nigeria banks with regard to the application of risk based approach. The
Nigeria law, the central bank of Nigeria and the international regulations
impose internal control in the Nigerian banking sector. However, the commercial
bank credit institutions in south-south ignored west regulations. The result of
the research show that the standards of internal auditing requires the adoption
of risk based approach from internal auditors. Unfortunately this requirement
is not being into practice. The south-south bank adopts an intermediary approach
of internal control that takes into consideration the risks, without estimating
and managing them.
Kwameh (2010),
examine the internal control function of banks in Ghana. Using a sampling
design, qualitative and quantitative approaches, 25 questionnaires were sent to
internal auditors in the banks of Ghana and 14 were answered representing 56%
of the total questionnaires distributed. Equally, 85 different questionnaires
were sent to auditors and 50 were answered representing 56% of the total questionnaires
distributed. The analysis of the survey answered indicates that the importance
of internal audit in the banking sector is increased by the usage of computers
and the international extension of banks. The result also showed that number of
internal auditors is related with the size of the bank. Regarding the education
of internal auditors, the result reveals that usually internal auditors have
graduated from Universities and have majored in
accounting. Indeed, the research showed the importance of internal
control in a computerized industry.
Osondu (2010),
examined the implementation of risk based internal audit in Kenya banks. To
accomplish the goals of the survey, a structured questionnaires was distributed
to 40 banks in Kenya, both the public and private sectors. A total of 25 banks
all public sectors and 10 private sector banks have responded to the
questionnaires distributed. The findings showed that the banks have sufficient
progress in introducing risk based internal audit. This refers to their understanding
of methodology for the assessment of risk, audit procedures and implementation
of audit report.
Ojiako (2013),
examined the existence and adequacy of implemented security controls in the
south-East Nigeria banking sector. The results of the survey showed that the
vast majority of south-East Nigerian banks have adequate security control in
place. Result also revealed that the computer departments paid relatively more
attention to technical system controls while internal audit departments emphasized
more of the behavioral and organizational security controls. Finally, the study
provides valuable empirical results regarding inadequacies of implemented CAIS
unit controls and introduced some suggestions to strength and improve the
security controls in south-East Nigeria banking system.
Okogwu (2006),
examined the importance of a well organized system of internal control in
regard with the bank sector. The sample was based on 32 credit institutions in
Greenland. The analysis of the survey answers reveals that the continuous
collaboration based on periodicals meetings between all structures of bank,
characterized an effective internal control department.
Azuewa (2011)
investigates the appropriate review between designing of accounting information
system and performance of commercial banks units by analyzing strategies. The
findings using first city movement bank (FCMB) reveals that high performance of
commercial banks units depends on wide range of accounting information system.
Other finding revealed that banks systematically vary their accounting
information system to support their chosen strategy recognizing that accounting
information system have the potential to facilitate strategy management and
enhance organizational performance.
Hu (2009),
investigates the existence and adequacy of implemented security controls in
computerized accounting information system in Thailand banking sector. The
result of the study reveals that the vast majority of Thailand banks have
adequate security controls in place. The result also enabled managers and
practitioners to better secure their computerized accounting information
systems and to champion the security of information technology for the success
of their banks.
Rotimi (2010),
investigates the existence and adequacy of implemented security controls in the
Lagos banking sector. The result of the survey showed that the vast majority of
Lagos banks have adequate security control in place. The result also revealed
that the computer sectors pay relatively more attention to technical system
controls while internal audit section emphasized more of the behaviourial and
managerial security controls. In other words, the study provides valuable
empirical results regarding inadequacies of implemented CAIS security controls
and introduced some suggestions in the Lagos banking system.
Hikmat (2012),
investigates the internal control function in the banks of Indonesia. Adopting
the following methodology of simple random sampling technique, 30
questionnaires were sent to internal auditors in the banks of Indonesia and 18
were answered representing 57% of the total questionnaires distributed while 82
different questionnaires were sent to auditors and 47 were answered
representing 57% of the total questionnaires distributed. The analysis of the
survey answered indicates that the significance of internal audit in the
banking sector is increased by the usage of computers and the international
extension of banks. The result also
showed that the number of internal auditors is related with the one of the
bank. Examining the questionnaires of the internal auditors, the result showed
that they are all University graduates with specialty in accountancy and have
had many years of experience in the banking industry.
Uzor (2013),
investigates the existence and adequacy of implemented security controls in
Awka banking sector. The result of the survey revealed that the vast majority
of Awka banks have adequate security control in existence. The result also
revealed that the computer sections pay relatively more attention to technical
system controls while internal audit section emphasized more of the managerial
and psychological security controls. Again, the study provides valuable
empirical results regarding inadequacies of implemented CAIS security controls
and introduced some suggestions in the Awka banking industry.
2.5 Gap in Literature.
In
the course of synthesis of the literature reviewed, efforts were made to look
at the concept of internal control in the computerized accounting system in Access
Bank. We also brought into focus the vital and related issues of internal
control and general improvement in the computerized accounting system in Access
Bank.
However, the existing literature offers
scant evidence of the relationship between accounting information system and
financial performance of Access Bank which have to do with a positive
association between accounting information system design and banking strategy
and performance.
Though
it is important to highlight the study made by Elena, Raquel and Columbia
(2010) which discovered a positive association between AIS design and
organizational Strategy and performance, the successful implementation of AIS
could save shareholders money and time.
Financial
managers need the financial and accounting data provided by AIS to evaluate the
banks past performance and to map future plans. Therefore, the Access Banking
performance is measured in terms of RDA (Return on assets) and ROE (return on
equity), these ratios are financial performance measuring ratios (Majeed,
2011).
Return
on equity is a key that provides useful information about the performance of
debt in the capital structure that the general manager must try to influence in
order to improve financial performance (Miller, Bochlje and Dobbins, 2010). Thus,
if AIS design can be linked to financial performance and financial is linked to
banking performance, then we can argue that AIS design can be expected to have
positive effects on banking performance through ROA and ROE.
Existing
interactive offers scant evidence of the relationship between accounting
information system and performance management. Accounting information system
are considered as important organizational mechanisms that are critical for
effectiveness of decision management and control in organizations. Accounting
information system in the banking industry has also changed its way of
capturing, processing, storing and distributing information.
Nowadays,
more and more digital and on-line information is utilized in the accounting
information systems (Clikema, 2010).
Thus,
management performance includes activities that ensure that goals are
consistently being met in an effective and efficient manner. It focus on the
performance of an organization. Accounting systems affect behaviour and performance
management and have effects across departments, banks and even countries. (Noellette,2011).
Management is engaged with different types of activities which require good quality
and reliable information. Quality information is one of the competitive
advantages for an organization. In an accounting information system, the
quality of the information provided is imperative to the success of the systems
(Hongjiang, 2010). Quality of information generated from AIS is very important
for management. Business organizations often use accounting information systems
to provide support for management decisions. Support usually includes financial
analysis from banks accountant. Support usually includes financial analysis
from banks accountant.
Existing
literature offers scant evidence about banks current performance to budgets,
forecast. Prior periods or other
benchmarks to measure the extent to which goals and objectives are being achieved and to identify unexpected
results. In the same way, managers are primarily responsible for identifying
the financial and compliance risks for their operations, they also have line
responsibility for designing, implementing and monitoring their internal
control system. Internal control typically centre around the banking accounting
information system, which is the primary function for moving financial
information through the financial institution. Indeed, the relationship between
accounting information system (AIS) and banks performance would be moderated by
the performance management.
Finally,
the study have failed to asses the effectiveness of internal control in the
computerized accounting system of Access bank, Abakaliki branch.
2.6
Theoretical Framework.
To further
enhance the effectiveness and general understanding of the subject matter, a
background of systematically organized knowledge of varying levels generalized
needs to be analyzed. This is aimed at providing meaning and relevance from the
development of such knowledge and concerts whose application provides
specifications and relationship based on empirical tests and validations.
A theory
provides us with the tools with which we try to analyze issues and causations
in order to determine what is real and what is not. It is important to provide
an analytical basis of explanations which would enhance better appreciation and
understanding of internal control and computerized accounting system in Access
Bank.
There are several existing theories in
the management sciences which would suit our purpose in this work. For a better
analysis, we shall employ the contingency theory of accounting information.
2.6.1
The Contingency
theory of accounting information.
The contingency
theory founded by Smith (1907) describes a new theory of information system,
which embraces both macro organizational concept, technology and human
information processing system. The
theory and the possible relationship of internal control, computerized
accounting system in the banking industry fix in management decision (Gerdin
and Greve, 2004, Widener 2006, Waterhouse and Tiessen 1978),
For
such theory to be performed, the conceptual model are the financial
information, managerial information and auditing information reporting and the
interaction among them.
Deriving
from above, it would be precise to assert that the effectiveness and efficiency
of the banking industry can be determined by the co-existence of internal
control through computerized accounting system to yield efficient managerial
decision making and control.
Thus, this has been considered to be true and functional because since
the practice of computer in our financial institutional, the work-load has been
reduced and accounting balances has been accurate.
However, criticism by some scholars such
as Ebenezer (2005), stated that the use of computer accounting system has led
to fraud, inefficiency and collapse of many banks in the country.
CHAPTER
THREE
METHODOLOGY
3.1 Research Design
The
descriptive method of research based on sample survey design was adopted in
this study. Descriptive analysis involves systematic collection and
presentation of data to give a clear picture of a particular situation.
3.2 Area of Study
This
work is carried out in Access Bank Plc. It is further narrowed down to Access
Bank, branch Abakaliki. This is to help the researcher gather adequate
information for the analysis.
3.3 Population of Study
The
population of Access Bank plc, Abakaliki as at time of this study is 230 (Two
hundred and thirty) staff.
3.4 Sampling Technique and Determination
Simple
random sampling was used in the distribution of questionnaire. This is to
ensure that every respondent has a chance of getting a questionnaire in the
study. The questionnaire is close ended type which is divided into two parts.
Bio-data as part one and the main questions as the second part.
3.4.1 Determination of sample size
Taro Yamain was used to determine
the sample size of the population the formular for the Taro Yamain is given
below.
N = __N__
1+N(e)2
Where
n = desired sample
N = Total population (230)
I = constant
e = Acceptable error margin (0.05)
Thus: n = ___230______
1+230x0.0025
=
N
1.575 = 146.
Therefore, the sample size is 146 staff.
3.5 Sources of Data Collection
The
source of data collection is primary. That is the responses collected from the
structured questionnaires that were administered to the responses. The
questions were on the five point likert type questions with choice of strongly
agree (SA), agree (A), undecided (UN), disagree (D) and strongly disagree (SD).
Further, the questionnaire consisted of two sections. The first section focused
on demographics of the target audience. The second section covers the main
questions.
3.6
Validity and
reliability of instruments
The
questionnaire was submitted to experts in the field of study and through the
technique of face and content analysis, it was validated. Some impact factors omitted were added and some irrelevant factors
included removed.
Reliability
test was carried out by test-retest method, in which case, the questionnaire
were distributed and re-distributed after two weeks interval, and the results
correlated to ensure consistency. No significant variation was observed
in-between the re-administration interval.
3.7
Method of Data
Analysis
The
research paradigms used by this study were the qualitative and quantitative
approaches. In the presentation of our data for the study, the qualitative and
quantitative data complemented each other. The presence of these two approaches
ensured validity and reliability of the study. in other words, the information
gathered from literature reviewed assisted to authenticate the data from the
questionnaire and interview.
Data
presentation consists of simple table showing statistical records in row and
column formation and Chi-square (X)2 technique used to test the hypotheses for
the difference between a set of observed frequencies and a corresponding
expected frequency.
The formula is stated below of
significance.
X2 = (oi – ei)2
ei
where x2
= chi-square
oi = observed
frequency
ei = expected frequency
CHAPTER
FOUR
PRESENTATION
AND ANALYSIS
4.1 Presentation of Data
The
previous section described the design used in this study, the procedure,
population size and sample, sources of data and rate at which questionnaires
were returned. This chapter focused on collected data, analysis of the data,
presentation and validation of hypotheses stated in chapter one for the purpose
of this study, we uses strongly agree, agree, undecided, disagree and strongly
disagree to answer questions.
Table
4.1: Sex of Respondents
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Male
|
86
|
58.90
|
60.04
|
60.04
|
Female
|
56
|
38.36
|
39.96
|
100.00
|
Total
|
146
|
97.26
|
100
|
Source: Kama’s field survey, 2013
The table 1 shows that 86 respondents
representing 60.04% are male while 56 respondents representing 39.96% are
female.
Table
4.2: Age Respondents
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
20-30yrs
|
56
|
38.36
|
39.36
|
39.36
|
31-40 yrs
|
44
|
30.14
|
31.14
|
70.50
|
41-above
|
40
|
21.40
|
29.50
|
100.00
|
Total
|
146
|
90.90
|
100
|
Source:
Kama’s field survey, 2013
The
table 2 above shows that 56 respondents representing 39.36% of the total
respondents are within the age bracket of 20-30 years, 44 respondents presenting
31.14% of the respondents fall between the ages of 31-40 years while 40
respondents representing 29.50% are between the 41 and above years of age
bracket. Therefore, most members of the workforce are within the productive
age. This encourages effective performance.
Table
4.3: Marital status
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Single
|
80
|
54.79
|
54.79
|
54.79
|
Married
|
40
|
27.40
|
28.40
|
83.19
|
Divorced
|
26
|
7.81
|
27.81
|
100.00
|
Total
|
146
|
90.00
|
100
|
Source:
Kama’s field survey, 2013
The table above shows that 80
respondents with 54.79% are single staff, 40 respondents representing 28.40%
are married whereas 26 respondents representing 27.81% are divorced.
Table
4.4: Educational Qualification
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
University graduates
|
80
|
54.79
|
55.79
|
55.79
|
College of Education and polytechnics
|
47
|
32.19
|
33.90
|
89.69
|
Secondary schools
|
19
|
10.10
|
10.31
|
100.00
|
Total
|
146
|
97.08
|
100
|
Source:
Kama’s field survey, 2013
The
result from table 4 above indicates that respondents representing 55.79% are
university graduates, 47 respondents with 33.19% are college of Education and
polytechnics graduates while 19 respondents with 10.00% are secondary school
certificate holders.
Section
B
Question 1
Does the
management of internal control provide adequate internal framework of checks
and balances that ensure operational efficiency and effectiveness?
1. How
Internal control improved the Access Bank management through computer
accounting operation?
Table4.
5: Internal Control Improved Access Bank Operation.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
60
|
41.09
|
41.10
|
41.10
|
Agree
|
30
|
20.54
|
21.00
|
62.10
|
Undecided
|
8
|
5.48
|
6.48
|
68.58
|
Disagree
|
30
|
20.54
|
21.00
|
89.58
|
Strongly disagree
|
18
|
12.32
|
10.42
|
100
|
Total
|
146
|
99.97
|
100
|
Source:
Kama’s field survey, 2013
The
table above shows that 60 respondents representing 41.10% strongly agree that
internal control improved the banking operations of Access Bank through computer accounting operation. 30 respondents
with 21.00% agree, 8 respondents with 6.48% undecided, 30 respondents
representing 21.00% disagree white 18 respondents with 10.40% strongly
disagree.
2.
Has
computerized accounting system provides adequate internal framework that ensure
operational efficiency and effectiveness in Access Bank.
Table 4.6 computerized accounting system
provides adequate internal framework that ensure operational efficiency and
effectiveness.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
50
|
34.24
|
35.24
|
35.44
|
Agree
|
45
|
36.82
|
31.02
|
66.26
|
Undecided
|
6
|
4.10
|
4.11
|
80.37
|
Disagree
|
26
|
14.80
|
16.81
|
98.18
|
Strongly disagree
|
20
|
13.69
|
13.70
|
100.00
|
Total
|
146
|
93.65
|
100
|
Source:
Kama’s field survey, 2013
The table above shows that 50
respondents representing 35.24% strongly agree, 45 respondents representing
31.02% agree, 6 respondents unleaded, 26 respondents representing 17.81%
disagree and 20 respondents representing 13.70% strongly disagree.
3. Has innovation of computer technology into
the banking industry brought new development to the Access Bank?
Table 4.7: Innovation
of computer technology into the banking industry has brought development into
the Access Bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
48
|
32.87
|
33.88
|
33.8
|
Agree
|
56
|
39.36
|
39.36
|
73.24
|
Undecided
|
11
|
7.54
|
7.54
|
80.78
|
Disagree
|
12
|
8.21
|
9.21
|
98.99
|
Strongly disagree
|
19
|
10.03
|
10.01
|
100.00
|
Total
|
146
|
98.01
|
100.00
|
Source:
Kama’s field survey, 2013
The table above
shows that 48 respondents representing 33.88% strongly agree, that innovation
of computer technology into the banking industry has brought development
into the Access Bank; 56 respondents
representing 39.36% agree, 11 respondents unleaded, 12 respondents 9.21% agree
and 19 respondents representing 10.01% strongly disagree.
4. Has computer accounting provides
internal framework of checks and balances into the Access Bank?
Table 4.8. Computer accounting provides
internal framework of checks and balance in the Access Bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
70
|
48.94
|
48.45
|
48.45
|
Agree
|
40
|
28.39
|
28.38
|
76.83
|
Undecided
|
3
|
2.05
|
2.05
|
78.88
|
Disagree
|
19
|
12.03
|
13.01
|
91.89
|
Strongly disagree
|
14
|
9.61
|
8.21
|
100.00
|
Total
|
146
|
97.02
|
100.00
|
Source:
Kama’s field survey, 2013
The table above
shows that 70 respondents representing 48.45% strongly agree, that computer
accounting provides internal framework of checks and balance in the banking
industry, 40 respondents representing 28.38% agree, 3 respondents with 2.05%
unleaded 19 respondents representing 13.01% disagree, 14 respondents
representing 8.21% strongly disagree.
5. Has
internal control through computer accounting provides adequate documentation
and updates of data of Access Bank?
Table 4.9: Internal control through
computer accounting provides adequate documentation and updates of data of Access
Bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
45
|
30.82
|
31.64
|
31.64
|
Agree
|
63
|
43.15
|
44.15
|
75.79
|
Undecided
|
5
|
3.42
|
3.40
|
79.19
|
Disagree
|
16
|
10.95
|
10.96
|
90.15
|
Strongly disagree
|
17
|
11.64
|
9.85
|
100.00
|
Total
|
146
|
96.08
|
100.00
|
Source:
Kama’s field survey, 2013
The table above
shows that 45 respondents representing 31.64% strongly Agree that internal
control provides adequate documentation
and updates of data, 63 respondents with 44.15% Agree, 5 respondents with 3.40%
undecided, 16 respondents with 10.96% disagree while 17 respondents with 9.85%
strongly disagree.
Research Question 2: Does Human
resources effect on the computerization of the accounting system in the Access
Bank leads to accounting scandals?
1.
Human
resource control has restored the imbalance caused by
computer virus
in the internal control system of the Access Bank.
Table 4.10: Human resource has restored
imbalances in power failures
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
58
|
39.72
|
40.72
|
40.72
|
Agree
|
32
|
21.91
|
22.21
|
62.93
|
Undecided
|
2
|
1.36
|
1.38
|
64.31
|
Disagree
|
30.4
|
20.54
|
20.54
|
84.85
|
Strongly disagree
|
20
|
16.43
|
15.15
|
100.00
|
Total
|
146
|
98.16
|
100
|
Source:
Kama’s field survey, 2013
The table above
shows that 58 respondents representing 40.72% strongly Agree that human
resource has restored the imbalances in Access Bank even as power fails, 32
respondents with 22.21% Agree, and respondents with 1.38% undecided, 30
respondents with 20.54% disagree while 24 respondents representing 15.15%
strongly disagree.
2. Has Human resource control improved
customer satisfaction during computer power failures in Access Bank?
Table
4.11: Human resource control was improved customer satisfaction during computer
power failure
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
45
|
30.82
|
31.28
|
31.28
|
Agree
|
50
|
32.24
|
34.25
|
65.53
|
Undecided
|
4
|
2.73
|
2.74
|
68.27
|
Disagree
|
22
|
15.00
|
15.06
|
83.33
|
Strongly disagree
|
26
|
17.21
|
16.67
|
100.00
|
Total
|
146
|
98.00
|
100
|
Source:
Kama’s field survey, 2013
The table above
shows that 45 respondents with 31.28% strongly agree that human resource has
improved customer satisfaction during power failure, 50 respondents with 34.25%
agree, 4 respondents with 2.74% undecided, 22 respondents 15.06% disagree while
26 respondents with 16.67% strongly disagree.
Three (3) has Human resource control
help in keeping the updates of computer operating system in the Access Bank?
Table
4.12: Human resource keeps the Access Bank updates through computer operating
system.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
47
|
32.19
|
32.29
|
32.29
|
Agree
|
48
|
32.87
|
32.01
|
65.30
|
Undecided
|
3
|
2.05
|
2.05
|
67.35
|
Disagree
|
23
|
15.75
|
15.78
|
83.13
|
Strongly disagree
|
25
|
16.87
|
17.14
|
100.00
|
Total
|
146
|
98.73
|
100
|
Source:
Kama’s field survey, 2013
The result in
table 12 shows that 47 respondents with 32.29% strongly Agree that human
resource keeps the Access Bank updates through computer operating system, 48
respondents representing 33.01% agree, 3 respondents representing 2.05%
undecided, 23 respondents, representing 15.78% disagreed while 25 respondents
representing 16.87% strongly disagrees.
4. Has
computerization of accounting system restored administrative efficiency in the Access
Bank?
Table 4.13: Computerization of
accounting system has restored the administrative efficiency in the Access Bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
43
|
29.45
|
30.21
|
30.21
|
Agree
|
47
|
31.19
|
32.19
|
62.40
|
Undecided
|
2
|
1.06
|
1.36
|
63.76
|
Disagree
|
36
|
24.66
|
24.67
|
88.43
|
Strongly disagree
|
18
|
13.64
|
11.57
|
100.00
|
Total
|
146
|
99.04
|
100
|
Source: Kama’s field survey, 2013
The result from
the table above shows that 43 respondents representing 30.21% strongly agree
that computerization of accounting system has restored the administrative efficiency
in the Access Bank, 47 respondents representing 32.19% Agree, 2 respondents
representing 1.36% untended, 36 respondents representing 24.67% disagree while
18 respondents representing 11.57% strongly disagree.
Research
question 3:
Does the infrastructural effect on the
computerization of the accounting system occur as a result of administrative
inefficiency?
1. Has
Poor infrastructural development affects the internal control of accounting
system in the Access Bank?
Table 4.14: Poor infrastructural
development affects the internal control of computerized accounting system.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
47
|
32.19
|
32.29
|
32.29
|
Agree
|
48
|
32.87
|
33.01
|
65.30
|
Undecided
|
3
|
2.05
|
2.05
|
6735
|
Disagree
|
25
|
17.14
|
16.87
|
84.22
|
Strongly disagree
|
23
|
15.74
|
15.76
|
100.00
|
Total
|
146
|
98.73
|
100
|
Source:
Kama’s field survey, 2013
The table above
shows that 47 respondents with 32.29% strongly agree that poor infrastructural
development affects the internal control of computerized accounting system; 48
respondents with 33.01% agree, 3 respondents with 2.05% undecided, 25
respondents with 16.87% disagree while 23 respondents with 15.76% strongly
disagree.
2. Has quality infrastructural development
help in keeping the update of computer accounting system in Access Bank?
Table 4.15: Quality Infrastructural
development help in keeping the updates of Access Bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
56
|
38.36
|
39.36
|
39.36
|
Agree
|
48
|
32.87
|
33.88
|
73.24
|
Undecided
|
11
|
7.53
|
7.54
|
80.78
|
Disagree
|
19
|
13.03
|
10.01
|
90.79
|
Strongly disagree
|
12
|
8.21
|
9.21
|
100.00
|
Total
|
146
|
98.10
|
100
|
Source:
Kama’s field survey, 2013
The table above
shows that 56 respondents with 39.36% strongly Agree that quality
infrastructural development help in keeping the update of computer accounting
system of Access Bank, 48 respondents with 33.88% Agree, 11 respondents with
7.54% undecided. 19 respondents with 10.01% disagree while 12 respondents with
9.21% strongly disagree.
3. Has infrastructional development
attracts customers attention to Access?
Table 4.16: Infrastructural development
attracts customers attention to the bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
frequency
|
|
Strongly agree
|
47
|
31.19
|
32.19
|
32.19
|
Agree
|
43
|
29.45
|
30.21
|
62.40
|
Undecided
|
2
|
7.06
|
1.36
|
63.76
|
Disagree
|
18
|
13.64
|
11.57
|
88.43
|
Strongly disagree
|
36
|
22.56
|
24.67
|
100
|
Total
|
146
|
93.01
|
100
|
Source:
Kama’s field survey, 2013
The table above
shows that 47 respondents with 32.19% strongly agree infrastructural
development attracts customers attention to the bank, 43 respondents with
30.21% agree, 2 respondents with 1.36% undecided, 18 respondents with 11.57%
disagree whereas 36 respondents with 24.67% strongly disagree.
4. Has
quality infrastructure provides adequate internal framework
of checks and
balances in the Access Bank?
Table 4.17 Infrastructural quality
showing adequate internal framework of checks and balances in Access Bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
40
|
27.39
|
28.38
|
28.38
|
Agree
|
70
|
47.94
|
48.45
|
76.83
|
Undecided
|
3
|
2.05
|
2.05
|
78.88
|
Disagree
|
14
|
9.61
|
8.21
|
31.89
|
Strongly disagree
|
19
|
13.03
|
13.01
|
100.00
|
Total
|
146
|
99.6
|
100
|
Source: Kama’s field survey, 2013
The table above
shows that 40 respondents with 28.38% strongly agree,70 respondents with 48.45%
agree, 3 respondents with 2.05% undecided, 14 respondents with 8.21% disagree
while 19 respondents with 13.01% strongly disagree.
4.2 Data Analysis
Having
presented the data, they were analyzed in relation to the presentation. They
were then used in testing the entire hypotheses. Chi-square(X2) was
used to test the hypotheses listed in chapter one. The research tested the null
hypothesis at 0.05 level of significance.
From
the table, the chi-square (X2) method is applied with the formula.
X
= 
=
Hypothesis one:
Ho represents the null hypothesis
Ha represents the alternative hypothesis
Ho: Internal control does not provide
adequate internal framework of checks and balances that ensure operational
efficiency and effectiveness in Access Bank.
Ha: Internal control provides adequate
internal framework of checks and balances that ensures operational efficiency
and effectiveness in Access Bank.
From the data presentation, the tables
below, were used to provide the answer; which was answered on tables 5 and 6 of
the questionnaire.
Table
4.18: Internal Control Effect on Access Bank
Frequency
|
Percent
|
Valid
percent
|
Cumulative
frequency
|
|
Strongly agree
|
60
|
41.09
|
41.10
|
41.10
|
Agree
|
30
|
20.54
|
21.00
|
62.10
|
Undecided
|
8
|
5.48
|
6.48
|
68.58
|
Disagree
|
30
|
20.54
|
21.00
|
89.58
|
Strongly disagree
|
18
|
12.32
|
10.42
|
100.00
|
Total
|
146
|
97.54
|
100
|
Source: Kama’s field survey, 2013
Table 4.19: Computer Accounting System
and Operational Efficiency and Effectiveness in Access Bank
Frequency
|
Percent
|
Valid
percent
|
Cumulative
frequency
|
|
Strongly agree
|
50
|
34.24
|
35.24
|
35.24
|
Agree
|
45
|
39.82
|
31.02
|
66.26
|
Undecided
|
6
|
4.10
|
4.11
|
80.37
|
Disagree
|
26
|
17.80
|
17.81
|
98.18
|
Strongly disagree
|
20
|
13.69
|
13.70
|
100
|
Total
|
146
|
98.20
|
100
|
Source: Kama’s field survey, 2013
Table 4.20 contingency table for the
relationship between internal control and provision of internal framework of
checks and balances by management.
OPTIONS
|
A
|
B
|
Strongly agree
|
60(41.10)
|
50(35.24)
|
Agree
|
30(21.00)
|
45(31.02)
|
Undecided
|
8(6.48)
|
6(4.11)
|
Disagree
|
30(21.00)
|
26.(17.81)
|
Strongly disagree
|
18(10.42)
|
20(13.70)
|
Total
|
146
|
146
|
Source: Kama’s field survey, 2013
From the table, the chi-square method is
applied with the formula
X =
=
(60-41.1)2 + (30 – 21)2
+(8-6.48)2 + (30-21)2
+ (18-10.42)2 + (50 – 35.24)2
+ (45-31.02)2 +(6-4.11)2
+ (26-17.81)2 +
(20-3.7)2
==> 1067.14
Degree of freedom (DF)
Df = (R-1) (c-1)
Where R = row
C = column
Df = (5-1) (2-1) = 4
The tabulated chi-square at degree of
freedom (4) and level of significance 0.05; X2(4) = 9.48773.
Decision rule: If the chi-square calculated is less than
chi-square tabulated, we accept H0, otherwise, we reject.
Since
the calculated chi-square (1067.14) is greater than the tabulated chi-square
(9.48773) under 4 degree of freedom and 0.05 level of significance, we reject Ho
and accept Ha and conclude that internal control provides adequate internal
framework of checks and balances that ensures operational efficiency ad
effectiveness in Access Bank.
Hypothesis
Two:
Ho: There is no significant impact of human
resource control on the computerization of the accounting system as regards
virus and power failures in Access Bank
Ha: There is significant impact of human resource control on the computerization of the
accounting system as regards virus and power failures in the Access Bank.
From
the data presentation, the tables below will be used to analyses the
hypothesis.
Table
4.21: Human resource and imbalance caused by computer
virus
Frequency
|
Percent
|
Valid
percent
|
Cumulative
frequency
|
|
Strongly agree
|
58
|
39.72
|
40.72
|
40.72
|
Agree
|
32
|
21.91
|
22.21
|
62.93
|
Undecided
|
2
|
1.36
|
1.38
|
64.31
|
Disagree
|
30
|
20.54
|
20.54
|
84.85
|
Strongly disagree
|
24
|
16.43
|
15.15
|
100
|
Total
|
146
|
98.70
|
100
|
Source: Kama’s field survey, 2013
Table 4.22: Human resource help in
keeping the update of computer accounting system.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
frequency
|
|
Strongly agree
|
47
|
32.19
|
32.29
|
32.29
|
Agree
|
48
|
32.87
|
33.01
|
65.30
|
Undecided
|
3
|
2.05
|
2.05
|
67.35
|
Disagree
|
23
|
15.75
|
15.78
|
83.13
|
Strongly disagree
|
25
|
17.14
|
16.87
|
100
|
Total
|
146
|
96.75
|
100
|
Source: Kama’s field survey, 2013
Table 4.23: contingency table for Human
resource control and effect of virus and power failures in the computerized
accounting system.
OPTIONS
|
A
|
B
|
Strongly agree
|
58(40.72)
|
47(32.29)
|
Agree
|
32(22.21)
|
48(33.01)
|
Undecided
|
2(1.38)
|
3(2.05)
|
Disagree
|
30(20.54)
|
23(15.78)
|
Strongly disagree
|
24(15.15)
|
25(16.87)
|
Total
|
146
|
146
|
Source: Kama’s field survey, 2013
From the table, the chi-square method is
applied with the formula
X =
=
(58-40.72)2 + (32-22.21)2 + 2-1.38)2 + (30-20.54)2
+ (24-15.15)2 + (47-32.29)2 +
(48-33.01)2 + (3-2.05)2 + (23-15.78)2 +
(25-16.87)2
= 1122.85
degree of freedom (DF)
Df = (R-1) (C-1)
Where R = row
C = column
Df = (5-1)(2-1) = 4
The tabulated chi-square at degree of
freedom (4) and 0.05% level of significance is 9.48773.
Decision
Rule:
If the chi-square calculated is less
than chi-square tabulated, we accept Ho, otherwise, we reject.
Since
the calculated chi-square (1122.85) is greater than the tabulated chi-square
(9.48775) under 4 degree of freedom and 0.05% level of significance, we reject
Ho and accept Ha and conclude that there is a significant impact of human
control on the computerization of the accounting system as regards virus and
power failures in Access Bank
Hypothesis
Three
Ho: There is no significant impact of
infrastructure in the computerization of the accounting system as a result of
administrative efficiency in Access Bank.
Ha: There is a significant impact of
infrastructure in the computerization of the accounting system as a result of
administrative efficiency Access Bank.
From
the data presentation, the tables below will be used to analyze the hypothesis.
Table 4.24: Poor infrastructural development affects the
internal control of computer accounting system in the banking industry.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
47
|
32.19
|
32.29
|
32.29
|
Agree
|
48
|
32.87
|
33.01
|
65.30
|
Undecided
|
3
|
2.05
|
2.05
|
67.35
|
Disagree
|
23
|
15.75
|
16.87
|
84.23
|
Strongly disagree
|
25
|
17.14
|
15.76
|
100
|
Total
|
146
|
99.60
|
100
|
Source: Kama’s field survey, 2013
Table 4.25: Infrastructural development
attracts customers attention to the bank.
Frequency
|
Percent
|
Valid
percent
|
Cumulative
percent
|
|
Strongly agree
|
47
|
31.19
|
32.19
|
32.19
|
Agree
|
43
|
29.45
|
30.21
|
62.40
|
Undecided
|
2
|
1.06
|
1.36
|
63.76
|
Disagree
|
18
|
13.64
|
11.57
|
88.43
|
Strongly disagree
|
36
|
24.66
|
24.67
|
100
|
Total
|
146
|
100.00
|
100
|
Source: Kama’s field survey, 2013
Table 4.26: Contingency table for the relationship between infrastructural
development and customers satisfactory through computer accounting system.
OPTIONS
|
A
|
B
|
Strongly agree
|
47(32.19)
|
47(32.19)
|
Agree
|
48(33.01)
|
43(30.21)
|
Undecided
|
3(2.05)
|
2(1.36)
|
Disagree
|
25(16.87)
|
18(13.64)
|
Strongly disagree
|
23(15.76)
|
36(24.67)
|
Total
|
146
|
146
|
Source: Kama’s field survey, 2013
From the table, the chi-square method is
applied with the formula
X =
=
(47-32.19)2+(48-33.01)2
+ (3-2.05)2 + (25-16.87)2 + (23-15.76)2 +
(47-32.19)2 + (43 -30.21)2 +(2-1.36)2 +
(18-13.64)2 + (36-24.67)2 =>1097.14.
Degree of freedom (Df)
Df = (R-1) (c-1)
Where R = row
C = column
Df = (5-1) (2-1) = 4
The tabulated chi-square at degree
freedom (4) and 0.05% level of significance is 9.48773.
Decision
rule
If the calculated chi-square is less than the
tabulated chi-square, we accept Ho, otherwise, we reject.
Since
the calculated chi-square 91097.14) is greater than the tabulated chi-square
(9.48773) under 4 degree of freedom and 0.05% level of significance, we reject
the ho and accept the ha and conclude that there is a significant impact of
infrastructure in the computerization of the accounting system as a result of
administrative efficiency in Access Bank
CHAPTER
FIVE
DISCUSSION
AND SUMMARY OF FINDINGS
5.1 Discussion
In accordance
with the raised hypotheses and in effort to evaluate the hypotheses, some
statistical analyses were employed. Such statistical methods as simple tables
that consist of list of objects containing statistical records in row and
column formation and , as well, chi-square (X2) technique was used
to test the hypotheses for the difference between a set of observed frequencies
and a corresponding expected frequency. Some specific questions were
administered in the interview guide which were used to complement and confirm
the result of the qualitative analysis.
5.1.1 Hypothesis 1:
Internal control does not provide
adequate internal framework of checks and balances that ensure operational
efficiency and effectiveness in Access Bank.
This
hypothesis was subjected to the test of the significance of the chi-square(X2)
methods between the management control and the checks and balances in records
keeping. Form the result, operation is as a result of internal control by the
management of Access Bank.
Besides,
an item by item analysis between the variables revealed that internal control
provides adequate internal framework for operational efficiency. These
contingencies for positive options are 41.1, 21.0, 6.48, 21.0. 10.42 and 35.24,
31.02, 4.11, 17.81, 13.7 shows that there is a strong impact between the two
variables. Equally, the findings in answer to research question one of this
study agree with the above result.
5.1.2 Hypothesis 2:
There
is no significant impact of human resource control on the computerization of
accounting system as regards virus and power failures in the banking industry.
The
result of the test of significance of the chi-square(X2) test between the positive impact of human resource
control and effects of virus and power failures in Access Bank shows that human
resource play a major role in controlling virus and power failure in the bank.
An
items by item analysis o the contents shows that there is a positive impact.
The contingency for positive options are 40.77, 22.1.38, 20.54, 15.15 and
32.29, 33.01, 2.05, 15.78, 16.87 this means there is a positive impact from
human resource I the computerized control question 3 of this study agree with
the result.
5.1.3 Hypothesis 3
There
is no significant impact of infrastructure in the computerization of the
accounting system as a result of administrative efficiency in Access Bank.
This
hypothesis was subjected to the test of significance of the chi-square (X2)
method between Access Bank
infrastructure and its effect in computerized accounting system. From the
result of the test, it was shown that infrastructural development brings a lot
of favours to Access Bank as it helps in safeguarding the banking documents and updates.
Besides,
an item by item analysis indicates that good administrative efficiency
contributes to these success in the bank. The contingency for positive options
are 32,19, 33.01, 2.05, 16.87, 15.76 and 32.19, 30.21, 1.36, 13.64, 24.67.
finally, the findings in answer to research question four agree with the above
result that there is significant impact of infrastructure in the computerization
of the accounting system as a result to computerization of the accounting
system as a result of administrative efficiency.
5.2
Summary of Findings
This
findings shows the results of the three hypotheses using chi-square (x2)
statistical technique. The interpretation of the corresponding results of the
test constitutes our findings in these hypotheses.
5.2.1
Hypothesis 1:
Internal
control does not provide adequate internal framework of check and balances that
ensure operational efficiency and effectiveness in Access Bank.
The
result shows that the chi-square (x2) method for the testing of the
relationship between Internal control and provision of internal framework of
check and balances in Access Bank is (1067.14). This value has been interpreted
to mean a positive relationship between the two variables. This means that
internal control in Access Bank has contributed in enhancing checks and
balances in the bank. This relationship is significant as shown by the 0.05%
level of significance at the 4 degree of freedom. This implies that at the 4
degree of freedom, the tabulated score of 9.48773 is less than the calculated
score of (1067.14) and hence, the null hypothesis is rejected. In other words,
the provision of adequate internal frame work of checks, and balances in Access
Bank is dependent on the management of internal control.
5.2.2
Hypothesis 2:
There is no significant impact of human
resource control on the computerization of the accounting system as regards
virus and power failures in the Access Bank.
From
the result of the hypothesis testing using chi-square (x2) method
between Human resource control and control of virus and power failures in Access
Bank shows (1122.85). Equally, this value has been interpreted to mean positive
relationship between human resource control of the computerized accounting
system and the control of virus and power failures in Access Bank. This
relationship is significant as shown by the degree of freedom (Df = 4) which is
less than 0.05% level of significance. This implies that the corresponding null
hypothesis is rejected as a result of the tabulated score of 9.48773. Indeed,
there is significant impact of human resource control on the computerization of
the accounting system as regards virus and power features in Access Bank.
5.2.3
Hypothesis 3:
There
is no significant impact of infrastructure in the computerization of the
accounting system as a result of administrative efficiency in Access Bank.
The
result of hypothesis 3 shows that chi-square method for the testing of the
significant impact infrastructure in computer accounting is (1097.14). This
value has been interpreted to mean positive relationship between the two
variables. This seems to mean that poor infrastructural development are traits
to the storing of the computer system. This result is significant as shown by
the 0.05% level of significance at the tabulated score of 9.48773. In other
words, the corresponding null hypothesis is rejected.
CHAPTER
SIX
SUMMARY, RECOMMENDATIONS
AND CONCLUSION
6.1 SUMMARY
The study adopts
an in-depth study approach to address the issue of internal control in a
computerized accounting system – A study of Access Bank, Abakaliki branch. It
is motivated by the concern that the results from the study will be useful to
banking industry in the management of their affairs against fraud.
The proportional
stratified sampling technique was used to select the respondents. Chi-square (x2)
was used to test the hypotheses for the difference between a set of observed
frequencies and a corresponding expected frequency.
Results of the
study showed that internal control provides adequate framework of checks and
balances that ensures operational efficiency and effectiveness. This was
subjected to the test of significance of chi-square (x2) between
internal control of Access Bank and results after checks and balances of the
banks transactions. The result of the second hypothesis tested using chi-square
(x2) technique at 0.05% level of significance shows that human
resource control on the computerization of the accounting system in Access Bank
concerning computer virus and power failures proves that human resource control
plays significant role in controlling such mess.
The result of
the third study concludes that infrastructural development plays significant
role in the computerization of accounting system through the management role
that yields administrative efficiency. The result was subjected to the testing
of chi-square (x2) at 0.05% level of significance where the
calculated chi-square (x2) is greater than the tabulated chi-square
at 4 degree of freedom.
6.2 Recommendations
Having
unveiled the findings and discussions of the study, the researcher recommends
as follows;
1. Human
resource managers should take cognizance of the fact that banking environments
are in constant flux. Therefore, there is need for the managers of Access Bank
to go situational or contingent in banking management that will help to
surmount the hydra-headed problems that the environment pose to the banking
management.
2. In as much as banks are made up of
diverse people with different interests and backgrounds, it requires that
everybody should be carried along, given sense of belonging assured of job
security, provides necessary equipments and allowed to ventilate inputs in
matters concerning their areas of specialization. This will ensure that there
is goal congruency.
3. Recruitments should be left solely for
the trained human resource managers who are conversant with the job and can
control the affairs of the bank internally.
4. Since banking problems have gone
conventionally, there is need to introduce computer banking in all the sectors
of the Access Bank. That is to day, bankers should be equipped with
commensurate factices through training and development in order to bring to the
banking problems under problems and to a manageable extent.
5. Access Bank should be developed
infrastructural to enable basic functions take its positive effect.
6. Workshops and training should be given
to the staff regularly to enable them meet up with the banking updates and
documentations.
6.3 Conclusion
The
study in no small measure has examined
the appraisal of internal control in a computerized accounting system of
Access Bank.
Computerized
accounting system is the most challenging banking task because of the
uniqueness of the system. The system can cause fraud, virus, power failure
among others. Human resource managers must be up to date in new development and
innovations so as to acquaint their staff of the tools of solving banking ever
merging problems or challenges.
Indeed,
analysis showed that effective internal control in computerized accounting
system will help in curbing fraud, corruption and power failures.
It
went further to reveal that computer technology in the banking industry via Access
Bank should be handed over to staff who are trusted in order to provide necessary
documentation and updates. Gone were the days where manual banking operates.
Employees should be trained to enable them satisfy their customers needs.
High
incidence of corruption in the administrative body should be checked to help in
balancing the accounting transactions.
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