INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Financial control and accountability as the name implies means the proper management and control of financial aspects, the efficiency effective and management of finance of the organisation. The finance control and management law 1968 is designed for control and management for the public financial and maters connected there with and it stipulates under section 33 that the accountant general shall under to the auditor general accounts showing the financial position of the state at the end of every financial year and these include:
(a) Statement showing the sums estimated to be received as revenue into the consolidated revenue fund and sums actually so received in the period of account.
(b) Statement of assets and liabilities.
(c) A statement showing the sums estimated to be issued out of the consolidated revenue fund and the sums actually so issued in the period of accounts.
So in every organisation or public sector, there is the need for control and accountability.
Therefore, Engu state ministry of finance should not be an exception. Every staff of the ministry is involved to some extent in controlling of financial as well answerable to their conduct.
Almost all the workers in the civil services especially those involved in government financial operation and well acquainted with and an updated knowledge of the principles of financial controls. Financial control is linked with financial planning. This is not withstanding control parameter are outcomes of financial planning decisions.
However, systematic planning in itself requires a degree of control in terms of its process and procedures. In most cases, government constitutes largest single business entity and in many places, the core of the economy.
Its pattern of expenditure or manner of resources allocation determines the extent to which accountability for economy, efficiency and effectiveness can be achieved
Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes
CITE THIS WORK
(2014, 11). Financial Control And Accountability In Enugu State Ministry Of Finance... ProjectStoc.com. Retrieved 11, 2014, from https://projectstoc.com/read/4582/financial-control-and-accountability-in-enugu-state-ministry-of-finance-4056
"Financial Control And Accountability In Enugu State Ministry Of Finance.." ProjectStoc.com. 11 2014. 2014. 11 2014 <https://projectstoc.com/read/4582/financial-control-and-accountability-in-enugu-state-ministry-of-finance-4056>.
"Financial Control And Accountability In Enugu State Ministry Of Finance..." ProjectStoc.com. ProjectStoc.com, 11 2014. Web. 11 2014. <https://projectstoc.com/read/4582/financial-control-and-accountability-in-enugu-state-ministry-of-finance-4056>.
"Financial Control And Accountability In Enugu State Ministry Of Finance..." ProjectStoc.com. 11, 2014. Accessed 11, 2014. https://projectstoc.com/read/4582/financial-control-and-accountability-in-enugu-state-ministry-of-finance-4056.
- Related Works
- Privatization And Commercialization Effect On Nigerian Economy
- Effects Of Bank Distress On The Economy (the Nigerian Case)
- Effects Of Standard Costing On The Profitability Of Manufacturing Companies (a Case Study Of Nigerian Breweries Plc,ama, Udi Local Government Of Enugu State)
- The Role Of Internal Audit In The Management Of Hotels And Restaurants
- The Need For Auditing And Investigation In Small Scale Industries
- An Over-view Of Local Government Finance In The New Millennium (a Case Study Of Igbo – Etiti Local Government Council)
- An Examination Of The Role Of Co-operative Thrift And Credit Societies In Agricultural Financing. (a Case Study Of Selected Co-operative Thrift And Credit Societies In Enugu State)
- An Assessment Of The Impact Of Internal Audit Function In State Ministries (a Case Study Of Enugu State Ministries Of Works Housing And Education)
- Effective Development Of The Nigeria Capital Market As A Pre-requisite For Successful Implementation Of The Nation’s Investment Program
- The Effects Of Strategic Planning On Corporate Performance In University Education: A Study Of Babcock University