Department of Management & Accounting

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Browsing Department of Management & Accounting by Author "Abubakar Illo MUHAMMAD"

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    Internal Control System and Financial Performance of Small and Medium Scale Enterprises in Kebbi State
    (2022-12) Abubakar Illo MUHAMMAD
    In recent time, poor financial capacity among industries in the Nigerian productive sector has resulted into poor internal control policies and the success of every organization depends on her financial capacity. This study investigated the impact of internal control and financial performance on small and medium scale enterprises in Kebbi State, Nigeria. A descriptive survey design research was adopted. A total of 338 respondents were used for the study which consists of C.E. O’s, Managers, and Internal control units of the various SMEs in Kebbi State, Nigeria. Simple percentages were used to answer research questions while Pearson Product Moment Correlation Coefficient Analysis was employed to test the five hypotheses with a two-tailed test of significance at P<0.01 level. The results revealed that there is a significant relationship between individual internal control components and financial performance of small and medium enterprises in Kebbi state Nigeria. There also exists significant and positive relationship among combined internal control components and financial performance of small and medium enterprises in Kebbi state Nigeria. The study recommends regular and timely financial audits to help SMEs detect any gaps in their financial systems and financial performance. A frequent risk assessment be conducted so that SME management may determine whether or not their goals will be reached. Keywords: Financial performance, Internal Control, Small and Medium Enterprises, Management, SMEDAN Word Count: 209