| Abstract: | Internal control system is a processes aimed at ensuring the achievement of an organization’s objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies. The main purpose of the study was to assess the internal control system practice in United Alpha Commercial Private Limited Company. The study adopted a descriptive research design which allowed the collection of primary and secondary data through structured questionnaires and document review respectively. The collected data was analyzed with the aid of the Statistical Package for Social Sciences (SPSS) Version 21. The data was analyzed using descriptive statistics like mean and standard deviation. Generally, the researcher found that the company’s internal control is not effective. This conclusion is confirmed throughout the specific findings for all the assessed components of internal control. To cite some: the company under study has not a standard code of conduct; lines of authority are not clearly understood by employees; key information about the organization's operations are not identified and regularly reported; management did not take adequate and timely action to correct deficiency reported by the internal audit function. Finally, the researcher recommends that almost all specific aspects of internal control in the company be improved, upgraded and enhanced. For instance, management should assess whether controls are present and functioning as intended; the company should periodically evaluate business processes. |
