An investigation into the existence, efffectiveness and efficiency of internal control systems: a case study of AVM Africa (Pvt) (2005-2006)
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The main objective of this research is to investigate the existence of internal control systems and to make an enquiry about their efficiency and effectiveness in AVM Africa (Pvt) Ltd, a motor vehicle manufacturing industry, in Zimbabwe, Africa. The internal controls need to be reviewed as they are outdated because they are being circumvented hence they need to be reconsidered and updated. This research develops a conceptual model used in evaluating the internal control systems in AVM Africa (Pvt) Ltd. The outcome of the evaluation process is that some control components are not effective and efficient. This renders the current control structures ineffective and inefficient. Chapter two looks at literature review. This is broken down into the introductory part, conceptual framework, theoretical framework and empirical evidence. Chapter three looks at methodological issues such as population, research design which was the descriptive approach using a case study. Simple random sampling was used and research instruments encompassed questionnaires, historical data analysis and interviews. Data validity and reliability was ensured by pre-testing the research instruments. The data was collected from the AVM Africa employees. Chapter four looks at data presentation and analysis. Data analysis was done using Microsoft Excel. The study ends with recommendations and suggestions to improve the existing internal control systems in the organization and suggests further research.