This paper examined the impact of internal control on operational performance in CSM Cooperative Society. Cooperatives have become a good source of affordable finance for both low and medium income group all over the world. As critically important as cooperatives are to the growth and development of Nigeria vide the provision of funds for business and investment hence employment, they may not survive in the long term if they are not properly managed. The presence of an effective and efficient internal control system will go a long way in aiding the cooperatives to manage their operations well. The study investigated internal control impact on performance of cooperatives in Abuja. The target population was the Executive Management Committee, Senior Management, Senior and Junior staff of CSM Cooperative, Abuja, Nigeria. Survey method was employed, and questionnaires were distributed to all the categories of employees identified. Multiple-Linear Regression was used to analyze the data collected vide a 5 point Likert-scale questionnaire. The study revealed that the relationship between internal control (monitoring, control environment, control activities) and performance of cooperatives is not significant. It was recommended that cooperatives should ensure that they seek for and implement measures that increase profitability in addition to instituting a good and functioning system of internal control. The study also recommended that future research should add the two variables of internal control not covered in this research and also use a sample number of cooperatives in Abuja.
| Published in | Science Journal of Business and Management (Volume 9, Issue 3) |
| DOI | 10.11648/j.sjbm.20210903.16 |
| Page(s) | 197-202 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2021. Published by Science Publishing Group |
Internal Control, Cooperatives, Control Environment, Performance, Control Activities, Monitoring
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APA Style
Maren Damina Makut, Umar Abbas Ibrahim. (2021). Effect of Internal Control on Performance of Cooperatives in Nigeria: A Case Study of CSM Cooperative Society Abuja, Nigeria. Science Journal of Business and Management, 9(3), 197-202. https://doi.org/10.11648/j.sjbm.20210903.16
ACS Style
Maren Damina Makut; Umar Abbas Ibrahim. Effect of Internal Control on Performance of Cooperatives in Nigeria: A Case Study of CSM Cooperative Society Abuja, Nigeria. Sci. J. Bus. Manag. 2021, 9(3), 197-202. doi: 10.11648/j.sjbm.20210903.16
AMA Style
Maren Damina Makut, Umar Abbas Ibrahim. Effect of Internal Control on Performance of Cooperatives in Nigeria: A Case Study of CSM Cooperative Society Abuja, Nigeria. Sci J Bus Manag. 2021;9(3):197-202. doi: 10.11648/j.sjbm.20210903.16
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Download@article{10.11648/j.sjbm.20210903.16,
author = {Maren Damina Makut and Umar Abbas Ibrahim},
title = {Effect of Internal Control on Performance of Cooperatives in Nigeria: A Case Study of CSM Cooperative Society Abuja, Nigeria},
journal = {Science Journal of Business and Management},
volume = {9},
number = {3},
pages = {197-202},
doi = {10.11648/j.sjbm.20210903.16},
url = {https://doi.org/10.11648/j.sjbm.20210903.16},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20210903.16},
abstract = {This paper examined the impact of internal control on operational performance in CSM Cooperative Society. Cooperatives have become a good source of affordable finance for both low and medium income group all over the world. As critically important as cooperatives are to the growth and development of Nigeria vide the provision of funds for business and investment hence employment, they may not survive in the long term if they are not properly managed. The presence of an effective and efficient internal control system will go a long way in aiding the cooperatives to manage their operations well. The study investigated internal control impact on performance of cooperatives in Abuja. The target population was the Executive Management Committee, Senior Management, Senior and Junior staff of CSM Cooperative, Abuja, Nigeria. Survey method was employed, and questionnaires were distributed to all the categories of employees identified. Multiple-Linear Regression was used to analyze the data collected vide a 5 point Likert-scale questionnaire. The study revealed that the relationship between internal control (monitoring, control environment, control activities) and performance of cooperatives is not significant. It was recommended that cooperatives should ensure that they seek for and implement measures that increase profitability in addition to instituting a good and functioning system of internal control. The study also recommended that future research should add the two variables of internal control not covered in this research and also use a sample number of cooperatives in Abuja.},
year = {2021}
}
TY - JOUR T1 - Effect of Internal Control on Performance of Cooperatives in Nigeria: A Case Study of CSM Cooperative Society Abuja, Nigeria AU - Maren Damina Makut AU - Umar Abbas Ibrahim Y1 - 2021/07/24 PY - 2021 N1 - https://doi.org/10.11648/j.sjbm.20210903.16 DO - 10.11648/j.sjbm.20210903.16 T2 - Science Journal of Business and Management JF - Science Journal of Business and Management JO - Science Journal of Business and Management SP - 197 EP - 202 PB - Science Publishing Group SN - 2331-0634 UR - https://doi.org/10.11648/j.sjbm.20210903.16 AB - This paper examined the impact of internal control on operational performance in CSM Cooperative Society. Cooperatives have become a good source of affordable finance for both low and medium income group all over the world. As critically important as cooperatives are to the growth and development of Nigeria vide the provision of funds for business and investment hence employment, they may not survive in the long term if they are not properly managed. The presence of an effective and efficient internal control system will go a long way in aiding the cooperatives to manage their operations well. The study investigated internal control impact on performance of cooperatives in Abuja. The target population was the Executive Management Committee, Senior Management, Senior and Junior staff of CSM Cooperative, Abuja, Nigeria. Survey method was employed, and questionnaires were distributed to all the categories of employees identified. Multiple-Linear Regression was used to analyze the data collected vide a 5 point Likert-scale questionnaire. The study revealed that the relationship between internal control (monitoring, control environment, control activities) and performance of cooperatives is not significant. It was recommended that cooperatives should ensure that they seek for and implement measures that increase profitability in addition to instituting a good and functioning system of internal control. The study also recommended that future research should add the two variables of internal control not covered in this research and also use a sample number of cooperatives in Abuja. VL - 9 IS - 3 ER -
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