| Abstract: | The Researcher set out to establish the organizational efficiency from the perspective of internal
controls. The study was guided by the following objectives to what extent dose control
environment, control activity, risk assessment, information and communication; monitoring and
internal audit of the internal control system has a contribution to organizational efficiency. The
study would be significant to the board of directors and management personnel as it would give
insights to them on the importance of internal control and its contribution to organizational
efficiency. The study adopted a descriptive research design. The nature of the study is qualitative
research. The target population of the study was all the employees of control department. In the
study the target population was 53. The study employed census sampling technique. Data was
collected using questionnaires, interview as well as review of available documents. Data was
analyzed using descriptive statistics presented by using frequency, percentage, mean, standard
deviation and tables. The study found out that, the information and communication at AIB was
effective as majority of the respondents agreed to that assertion. In reviewing the monitoring
component at AIB, the study found that monitoring activity was the weakest and ineffective.
Again, from the study indicated that control environment at AIB is also functioning. Control
activity component, risk assessments as well as the internal audit of internal control were also
assessed and findings proved their effectiveness. Some recommendations were made towards
strengthening the internal control components of the AIB, in pursuance of their effectiveness.
The study recommended that management must observe and physically count assets to check any
misstatement .The management of the bank prepares training on internal control activity, prompt
effective follow-up procedures and periodically review their policies and procedures. |
