ROLE OF INTERNAL CONTROL IN RISK MANAGEMENT

ROLE OF INTERNAL CONTROL IN RISK MANAGEMENT
 
ABSTRACT
The fact remains that internal control department has much role to play in managing risk in ever organizations and financial institutions. The aim of the research work is to analyze the role of internal control in risk management. In this research work, 60 questions were distributed while 40 were returned. It made use of simple percentage in analyzing the questions where chi-square was used to test the hypothesis. Furthermore, the following finding were made during the course of this research work. That there is an existence of internal department in Zenith Bank Plc, Owerri Branch. The need for continuous audit was also emphasized is independent of the management and report is mostly prepared and reviewed bi-annually. Conclusively, recommendations were made to the organization to ensure that risk is well managed in Zenith Bank Plc, to be précised. The independent of the internal control department should always be maintained. Regular training of the staff and personnel and also adequate development programs should also be organized to enhance performances, understanding and appreciation of organization objective.