CHAPTER ONE
INTRODUCTION
The
establishment of universities constitutes part of the infrastructure of the
country within which development and an evaluation of accounting is the whole
system of control. Financials and otherwise established by the organization in
an orderly and efficient manner, ensures adherence to management policies, safeguard
the asses and secure as far as possible the completeness and accuracy of records.
In
order to allow for better administration in the universities, the executive arm
of operate and each is charge with specific duties. They are required to render
an account of their stewardship on how the asset and obligation of the students,
staff and government have been safeguarded. The question that readily comes to
mind is, how far has this stewardship roles been performed.
Case
of embezzlement and misappropriation of public funds are main part these days.
Frauds have been taken many forms in this country within the educational institution
in the area financial frauds which include embezzlement of cash parse by
cashiers falsification or wrongful manipulation of accounts. Materials and
commercial frauds in stole of government parties.
Personal
fraud in duties the existence of ghost workers forgoing of certificates and use
of workers and universities time for private jobs while on payroll. Retaining
of employees names in the payroll of two or more departments drawing wages
cheques for a greater amount than actual wages, buttering of fractious names or
retaining the names of previous employees on the payroll.
Outright
burglary, breaking in and stealing of materials and requirements such as
typewriters, photocopy machines and cash form universities premises. It should
be noted that these fraud devices have a lot of effect on the operational
efficiency of the universities and the frauds could have been prevented of these
are effective and accurate accounting role procedures. In view of the light
rate of frauds in the Nigerian public sector, it become necessary to develop
satisfactory and efficient system of internal control to safeguard public money
and other assets. This could be reinforced by drastic law and regulations
against frauds which the past military administration of general Abubakar has
stated.
There is fraud were there is a poor accounting
role system. A good system of accountability or internal control system will
ensure that every transaction is correctly recorded and that responsibilities or
duties are adequately segregated so that the same person do not receive money,
make entries, and make payment.
Lack of inadequacy internal control method result
in the mismanagement of the economy, lack of public accountability, insensitivity
of the political leadership and general deterioration of the standard of living,
hence there is need for positive action for fraudulent actions.
ON
ACCOUNTABILITY
It would appear that inadequate accountability has
been one of the problems of the Nigerian society since independence. It is arguable
that most public officers holders have not proved to be quiet successful in
accounting efficiency of the stewardship
The inadequate and stewardship of public officers
and politicians did sustain and aggravate economic problem which directly or
indirectly increase unemployment, austerities, inflation scarcities of full local and imported goods,
falling of standard of living which generally resulted in going for fairly used
materials popularly known as Tokunbo.
The university
of Ilorin was established by decree of the federal military government in
august 1975. This step taken to implement one of the education directives of
the country third national development plan.
The university were considered to have special
responsibility themselves, also that they could guarantee their future
awareness of these responsibilities should be expressed in efficiency, in being
due able to fashion curricular which can easily merge with existing system,
developing postgraduate programmes, publishing standard ability to attract and
retails staff originate in curriculum and introducing new concepts engaging in
problem articulated research, maintaining `academic standard, coordinating with
lower lever institutions and laborating democratic internal governance for the
universities to achieves the universal.
A society which is free from corruption and
exploitation and which is led by able leaders imbised with a sense of justice to
all a nation which has educated man and woman oriented towards services to
their localities, country and the under society.
Degree of control by the government is due to
interference in the activities of the universities section by people in
government with litter or no knowledge at all about the operations of the
section is causing a serious problem in the section.
University is institution for the problem and
dissemination of advance leaving, offering degree and engaging in academic
research. University in a developing country roles and functions are seen to
train highly skill staff to satisfy national man power requirement, promotion, and
preservation of and enhance of social, cultural and moral institution.
- STATEMENT
OF RESEARCH PROBLEM
The checking on day transaction which operate
continuously as part of the routine system whereby the work of one person is
proved independently or is complimentary to the work of another. The objectives
being the prevention or clearly detection of error and fraud.
Arithmetical and accounting controls fall within
the recording function which checks that the transactions to be recorded and
processed have been authorized and that they are all including of arithmetical
accuracy, reconciliations control accounts and the trial balances.
Internal check should not involve the duplication
of duties by two or more persons and the division of duties must be maintained
at all stages. It should also be noted that all transaction should
authorization or approval by an appropriate and responsible person.
Custody procedures and physical controls are
concerned mainly with the custody of assets and involve procedure and security
measures designed to ensure that process to assets is limited to authorized
personnel. This includes both direct access and indirect access via
documentation. To signify their initial for their part in the payment voucher
with space for responsible officials to signify their initial for their part in
the payment of cash and cheque pass responsibility down to individual for
instance, persons responsible for have space on the payment voucher for their
initial with additional space for others information like LPO number, cheque
number, invoice number and account change for such expenditure. The uses of
accounting machines also permit the simultaneous preparation of several
documents with similar information and thus prevent errors in recopying.
If function by measuring and evaluating the
effectiveness of other of control. It could be regarded as the watching for
management because it prints out areas out of deficiencies in the operation of
organization.
IMPORTANCE OF AN EVALUATION OF ACCOUNTING SYSTEM IN THE MANAGEMENT OF NIGERIA UNIVERSITIES
