EFFECT OF INTERNAL CONTROL ON EXECUTION OF CAPITAL PROJECT IN NIGERIA: EVIDENCE FROM ANAMBRA STATE PUBLIC SECTOR

Abstract

This study ascertained the effect of internal control on the execution of capital projects in Anambra States, Nigeria. The study adopted survey research design. A sample of 118 Auditors and Accountants and staff of various Ministries and Departments in Anambra State. The formulated hypotheses were tested using regression analysis. The regression result shows that personnel control (PSC) has a positive and significant effect on the capital project execution in the state. The regression result also shows that management control (MGC) has a positive but insignificant effect on the capital project execution in Anambra state, Nigeria. It therefore recommends that, management control execution should be strengthened up in such regions as these were found to be positively and significantly affecting the rate of capital project execution in the state. Also Public sectors in the state, as well, the use internal control system to minimize the level of the neglected project in the state should be considered.