ASSESSMENT OF THE EFFECTIVENESS OF INTERNALCONTROLSYSTEMIN COMMERCIAL BANK OF ETHIOPIA (ACASESTUDYINGUBRE BRANCH)

Abstract

For every organization, establishing and maintaining proper internal control is unquestionable. Therefore, this research, which is undertaken on the topic of “assessment of the effectivenessofinternal control system of CBE”. The organization is located in wolkite town in centeral Ethiopia. This study examines whether the organization uses an effective internal control systeminrelation to assets and pinpointed the problem related with the internal control systemset intheorganization. For obtaining information regarding the internal control systemof the organization, both primary data, which is gathered through interview and questioners, and secondarydata, which is gathered by referring to the organization’s procedure manuals were used. Thedatacollected are qualitative in nature. The sample technique used in selecting the organizationiscense survey method In order to achieve the organization’s objectives, the board of directorsgives much emphasis to control environment and monitoring elements of internal control. Further, the organization has its own cash and fixed asset controlling mechanism. In this studyall elements of the internal control system of the organization have been discussedandconclusions drawn. Finally, based on the results of the study possible recommendations havebeen forwarded.