EFFECT OF INTERNAL CONTROL SYSTEM ON PERFORMANCE OF ZENITH BANK PLC, MAKURDI

ABSTRACT This study investigated the effect of internal control system on performance of Zenith Bank plc Makurdi. The study specifically examined the effect of control environment, risk assessment, control procedures and monitoring activities on the performance of Zenith Bank plc Makurdi. The study adopted the survey research design and questionnaire was used as the instrument of data collection. The population of the study consisted of 110 staff of the two branches of Zenith Bank plc Makurdi and a census sample technique was adopted for the study. Primary data collected were analysed using descriptive statistics (mean and standard deviation) and regression analysis was used as a technique of data analysis. Findings of the study revealed that control environment, risk assessment, control procedures and monitoring activities have positive significant effects on the performance of Zenith Bank plc Makurdi. The study concluded that internal control system practices are important in enhancing the performance of Zenith Bank plc Makurdi. Recommended amongst others include management of Zenith Bank plc Makurdi should establish a control environment that can enhance organizational performance; they should establish a well-defined vision and mission, clear line of authority and employee appraisal.