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
- Bank Fraud And Malpractice: Sources, Forms And Causes
- The Impact Of Tax Evasion And Tax Avoidance In Nigeria Economy
- The Role Of The Management Accountant In Profit Maximization, (a Case Study Of Emenite Plc Enugu)
- An Evaluation Of The International Monetary Fund (i.m.t) Loan Policy On Developing Economy (a Case Study Of Nigeria) 1990 –1999
- The Role Of Corporate Finance Management In The Policy Making Decision Of A Corporate Body. (a Case Study Of Hallmark Assurance Company Limited Owerri Imo State Branch)
- The Problems And Prospects Of Company Income Tax Administration In Nigeria. A Case Study Of Abia State Federal Board Of Inland Revenue
- Effectiveness Of Credit Guidelines As An Instrument Of Monetary Policy In Nigeria
- Analysis Of Finanical Statements As An Aid To Meaningful Invest Decision Making (a Case Study Of Investment Firms In Enugu State)
- Budgeting As A Control Strategy (a Case Study Of Unionbank Of Nigeria Plc Enugu Ogui Road)
- Internal Audit Control In Government Establishment (a Case Study Of Project Development Institute (proda), Enugu).