Thesis Abstract

Abstract
This research project focused on evaluating the internal control system of the Nigerian Electricity Power Authority (NEPA). The study aimed to assess the effectiveness of NEPA's internal control mechanisms in ensuring financial accountability, safeguarding assets, and preventing fraud and errors. The research employed a mixed-methods approach, combining qualitative interviews with key stakeholders and quantitative analysis of internal control procedures and financial data. The findings revealed several strengths in NEPA's internal control system, including the presence of control activities such as segregation of duties, authorization procedures, and physical security measures. However, weaknesses were also identified, particularly in the areas of monitoring controls and information systems reliability. These deficiencies could potentially expose NEPA to risks of misappropriation, financial mismanagement, and regulatory non-compliance. Recommendations were proposed to enhance NEPA's internal control system, such as implementing regular internal control assessments, strengthening monitoring mechanisms, and investing in updated information technology infrastructure. These improvements are crucial for NEPA to mitigate risks, improve financial transparency, and regain public trust in its operations. Further research is recommended to assess the impact of these proposed enhancements on NEPA's overall operational efficiency and financial performance.

Thesis Overview