THE EFFECT OF SOCIO- ECONOMIC BACKGROUND OF STUDENTS ON THEIR PERFORMANCE IN SECONDARY SCHOOL CERTIFICATE EXAMINATION (ECONOMICS)
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THE EFFECT
OF SOCIO- ECONOMIC BACKGROUND OF STUDENTS ON THEIR PERFORMANCE IN SECONDARY
SCHOOL CERTIFICATE EXAMINATION (ECONOMICS)
ABSTRACT
This
research examined the Effect of Internal Audit on Managerial Performance in
Public Enterprise. Survey design was employed with the use of a well structured
questionnaire. Respondents were selected based on simple random sampling
technique. Seventy (70) staff were selected from NNPC. Two hypotheses were
formulated and data collected were tested with the use of Chi-Square analysis.
Findings from the result shows that Internal audit has significant impact on
the reduction of embezzlement in public enterprises and established control has
significant effect on managerial performance. The study recommends that
internal auditor should continue to efficiently review various departmental
functions with a view to enhancing effective accounting system and control.
CHAPTER ONE
BACKGROUND
OF THE STUDY
1.0 INTRODUCTION
The term
audit is derived from the latin verb "Audire" which means "to
hear". The origin of audit dates from ancient times when the landowners
allowed tenant farmers to work on their land whilst landowners themselves did
not become involved in the business of farming. The landlords relied upon an
overseer who listened to the accounts of stewardship given by the tenants this
period the word audit is described as:
The
,independent examination of, and expression of opinion on the financial
statements of an enterprise by an appointed auditor in pursuance of that
appointment and in compliance with any relevant statutory obligation.
Furthermore,
the introduction of the joint stock company increased the supply of capital for
industry and commerce. The small privately owned business, which was financed
by a sole trader or a partnership gave way to the form of organization now
familiar as the limited company. The body of shareholders delegated some of
their members to act as a board of directors, and periodically the board
submitted accounts to the shareholders so that they could be aware of the state
of affair of the enterprise in which they had an interest. It was therefore
necessary for the shareholders to satisfied the accounts presented of the
directors did provide an objective view of the state of affairs of the company.
The joint
stock company Act of 1844 .was the fist legislation in Britain fore quire all
incorporated businesses to hand their annual financial statements examined by
an auditor. Early auditors were, in many cases non accountants who were
required state whether the accounts showed a `true and correct' view of state of
affairs of the, it was the company's Act 1900 that required auditor to be
independent and it was not until the 1948 Companied Act that he was required to
be professionally qualified. At this juncture, it was more appropriate to
define audit as:
An exercise
whose objective is to enable auditors to express an opinion whether the
financial statement give a true and fair view (or equivalent) of the entity's
affairs at the period end and of its profit and loss (or income and
expenditure) for the period then ended and have been properly prepared in
accordance with the applicable reporting framework (for example relevant
legislation and applicable accounting standards) or where statutory or other
specific requirement prescribed the term, whether the financial statements
"present fairly".
WHAT IS
INTERNAL AUDIT
Internal
audit are those audit that are being carried out by employees within an
enterprise. Internal audit is an independent appraisal functions established by
the management of an organization for the review of the internal control system
as a service', to the organization. It objectively examines, evaluates and
reports on the adequacy of internal control as a contribution to the proper
economic efficiency and effective use of resource.
The
institute of internal Auditors (IIA), the professional body of internal
auditors, define the function in the following way. "Internal auditing is
an impendent appraisal activity within the organization, for the review of
operations as a service to management. It is a management control which
functions by measuring and evaluating the effectiveness of the controls".
The scope of
the internal audit within an organization is broad and may involve topic such
as the efficacy of operations, there liability of financial reporting and
investigating fraud, safeguarding assets compliance with laws and regulations.
INTERNAL
AUDIT AND THE PREVENTION OF FRAUD
By
definition, internal control is an independent appraisal function within an
organization, carried out by employees of the organization, for the review of
operations (financial and otherwise): as a service to management. It is a
management controls which functions, by measuring and evaluating the
effectiveness of other controls. Fraud or irregularities, which arise in the conduct
of the affairs of a company, may be classified broadly into:
Defalcations
involving the misappropriate of money or goods, such acts may be performed by
an individual or group of individuals without the knowledge of the board of
directors, or sometimes, by the board with the intention of defrauding the
member.
Fraudulent
manipulation of , financial statements not involving defalcation. The main
reasons for this are:
To attempt
to improve the apparent position or the company e.g to justify a dividend that
would not otherwise have been payable or to assist in raising new finance: or
To attempt to defraud the tax authorities by reducing taxable profits.
The internal
auditors should continuously review the existing controls to ensure that they
are followed and update them when need be. This shall ensure that the
occurrence of fraud is prevented and that when any such 'frauds occur, they are
easily and timely identified and reported to management. It is his duty to
search for fraud, to examine the books, accounts and control/processes/system
with the objective of discovering whether there have been defalcations or other
irregularities by directors or employees of the company. However, if the
directors of the company decide to defraud the members, there is not much the
internal auditor can do. Being a staff of the organization, he probable reports
to the directors and depends on the board for his remunerations, promotion and
other employment incentives.
Similarly,
where the management .of business wish to manipulate the a misleading
impression without actually diverting any of the business assets, the internal
auditors cannot do much as management misstate the assets or liabilities. While
the more common target for manipulations is stock, other areas are also
susceptible.
financial
statements to give It is painful to observe that in practice, members in the
employment of companies as accountants, finance controller, internal auditors
etc are used to, enhance and perpetuate these management/ directors aided
fraud. Members must always beings to bear on all activities they are carrying
out for clients and employees the institute's codes of professional conduct and
ethics.
Misappropriation
of cash may result from the making of fictitious payments or the diversion of
cash receivable. The number of ways in which these may be done depend on the
systems of control in existence and the ingenuity of the person or persons
involved. In many cases, it is the attempt to cover of rather than the original
theft that is detected. So prevention of fraud is continuous review of controls
and operations. The opportunities for fraud will depend on the system of
controls. Particularly, important are those leading to segregation of duties.
Although frauds involving collusion are not uncommon, it is generally agreed
that the chance of detection rises with the number of people involved.
1.1 STATEMENT OF PROBLEM
Despite the
fact that there are installed control and check of resources, embezzlement and
fraud of resources misappropriate of funds, errors, irregularities and mistake
stills find their ways into the public enterprises.
Internal
audit department was established to reduce those excesses however, in Nigeria
public enterprises this is not so, as there are series of problem which has
been hindered in the internal audit efficiency.
1.2 PURPOSE OF THE STUDY
The broad
objective of this is to examine the effect of internal audit on managerial
performances in public enterprise (NNPC). However, some of the specific
objectives are as follows:
· To identify the factors that hinder
audit efficiency in NNPC as a public enterprise.
· Reduce excesses of the internal auditing
department of NNPC Identifying problems and accountability in NNPC.
· Examine the factors that hinder internal
audit efficiency and how these factors are impinged. It is also shapes up
performance of management
1.3 SIGNIFICANCE OF THE STUDY
The role of
internal audit department is called upon to play especially in public
enterprise and the ignorance of the employees makes this study important With
sound internal audit, management that is characterized by fraud, errors,
irregularities, and mistakes in the public enterprises which has resulted by
the notion that government business are not supposed to make profit is bound to
be eliminated.
The
management, employers, employees as well as student benefit from this study.
1.4 RELEVANT RESEARCH QUESTIONS
Below are
some questions that would be answered during the course of this research works.
· What is the impact of internal audit on
the performance in public sector
· Does establish control failed to enhance
management performance in Nigeria public enterprise (NNPC)
· Is there any factors that determine the
performance of the management in NNPC
· Does effective internal audit enhance
reduction of fraud?
· Is there any factor that prevent;
internal audit from being effective and efficient in NNPC.
1.5 STATEMENT OF THE HYPOTHESIS
To ensure a
mere analytical result oriented research, hypothesis are formulated and tested
on the research objectives.
The decision
criteria are to accept the null hypothesis (HO) and reject the alternative
hypothesis (Hi) or otherwise based on the result of the test performed. The
research hypotheses are stated below:
Hypothesis 1
HO: Internal audit has no significant impact
on the reduction of embezzlement in public enterprises
Hi: Internal audit has significant' impact
on the reduction embezzlement in public enterprises
Hypothesis 2
HO: Established control has no significant
effect on managerial performance.
Hi: Established control has significant
effect on managerial performance.
1.6 DELIMITATION OF THE STUDY
The scope of
limited to various measurement of internal audit which are used in public
enterprises. The constraints to this study are time, in adequate information,
lack of enough literature on this subject arid information which are considered
confidential were not revealed by some of the staff.
ABSTRACT
Parent’s
status has a problem which has faced the academic performance of the students
as a matter of facts this study focused on the effect of socio-economic
background of student on their performance in secondary school certificate
examination economics.
Hence the
effects of socio-economic background on student performance were strictly
analyzed by and large the result of the study indicated that socio-economic
background has effect or academic performance of the learner.
CHAPTER ONE
Introduction
1.1Background
To The Study
Over the
last decades, multiple attempts have been made to estimate an education
production functions, linking various
socioeconomic factors to an indicator of students’ performance.
This
empirical literature, however, had led to ambiguous results. In particular. No
mechanical relationship between the amount of resources fed the educational
system and pupils performance has been identified (e.g. Coleman, 1966);
Hanushak, 2003; Woessmann, 2000). In this context, some authors suggested
paying more attention to the organizational aspects of the schooling process
and in particular to the specific incentive structures which prevail within
schools (Hanushak, 1997, Bishop et al 2000).
In recent
years policymakers at the federal, state and local levels have worked to
increase accountability in our education system by measuring student’s
performance and raising standards. These joint efforts have equipped
policymakers, educators and parents with the tools needed to grade not only
students but also their schools. With
the groundwork set, it is curricle that parents take advantages of
opportunities for involvement in their children learning experience and play an
active role in ensuring education excellence. During the last two decades,
higher education institutions have invested heavily in information and
communication technologies (ICT) ICT has had a major impact in the university
context, in organization and teaching and learning method.
One puzzling
question is the effective impact of these technologies on student’s achievement
and on the returns of education.
Many
academics researchers have tried to answer this question at the theoretical and
empirical levels. They have faced two main difficulties, on one and student’s
performance is hard to observe and on the other, ICT is involving technologies
and there effects are difficult to isolate from their environment.
There is no
standard definition for student performance the approach focus on achievement
and curricula, how students understand courses and obtain their degrees or
their makes. However, a move extensive definition deals with competencies,
skills and attitudes learned through the education experience the narrow
definition allows the observation of the outcomes of any change in higher
education, while the more extensive definition needs a more complex
strategy of observation and a focus on
labour market the outcomes of education are mainly validated in the labour
market.
The relationship
between the use of ICT and student performance in higher education is not
clear, and there are contradictory results in the literature. Earlier, economic
research has failed to provide a clear consensus concerning the affection
student’s achievement.
Institutional
and organization variables also have consistent effect more precisely, schools
autonomy in the recruitment of teachers has a strong positive influence on
students’ performance.
We used the
program for international students’ assessment (PISA 2000).
Cross
section data to estimate the impact of organizational and institutional factors
on students’ performance (controlling for individual characteristics).
In other to
take into account hierarchical nature of the data, we introduced a country
fixed-effect and school random effect in our regression model of education
production function.
1.2Statement
Of The Problem
Over the
years, there have been many researches to investigate the effect of
socioeconomic background of students on their academic performance
Researches
have been conducted to find out.
i. How does the socio-economic
background affect the academic performance of the learners?
ii. Do the teachers’ characteristics
have effect on student’s performance?
iii. Does the students socio-economic
characteristics affect their education performance?
iv. Does the educational environment have
impact on students’ performance?
v. What are the impacts of ICT on
student performance in higher education: Direct effects indirect effects and
organization change?
Also the
researches work originated as a result of late coming to school; not performing
well in their class-work and the effect on indiscipline of the student with
special reference to Awori College Ojo.
1.3 Purpose Of The Study
The purpose
of the study is summarized as follows
i. To find out how the economic of
the parent affect the academic of the student.
ii. To find out the economic of the
parent affect the academic of the student.
iii. To find out why students are been
affected by their socio-economic background on their academic performance.
iv. To find out some other factors that
affect student’s academic performance.
v. To find out the relationship been
the use of Information and Communication Technology (ICT) and student
performance in higher education.
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