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ABSTRACT

This study is aimed at ascertaining the accounting system uses, and internal control in a community Bank Umuchinemere Community Bank Enugu. The approach to the study was the grouping of the subject matter for convenience, ease of reference and understanding.  It contains introductory passage which gives a kind of preamble and logical thoughts to what we may regard as relevant to information areas. A review of related literature will be made. The researcher will employ both primary and secondary data collection in research methodology. Simple statistical in tools like percentages, chi-square table etc will be used in the data analysis and presentation. Finally, a summary of findings, recommendations and conclusion will be made. The research findings crystallized the cause of distress in community Banks in Nigeria. However, some valuable recommendations were made by the researcher which when implanted hopes will being about good accounting system and internal control in community banks.

CHAPTER ONE

1.0      INTRODUCTION

Statement on auditing standard defined internal controls, the whole system of controls, financial and otherwise, established by the management in order to carry on the business of the enterprise orderly efficient manner, ensure adherence to management policies, safeguard the assets and secure as far as possible the completeness and accuracy of the records.Internal control and good accounting system ensure that controls and operating procedure are functioning efficiently in order to protect the bank from fraudulent manipulations, losses, errors and irregularities.In view of huge investments by the community development Associations, organizational/societies, individual shareholders should be controlled, safe guarded, and made result yielding venture,
The recruitment of a qualified internal auditor acts as a safety value in internal control. In recent times, defalcation, misapplication of depositors funds, inside abuse, theft of properly, and other types of financial improprieties have been found in our banks. Internal control and good accounting structures should assist to eliminate all the vices.
The urgent challenge facing this nation is the eradication of mass poverty.
(1)   Banking has been an important economic indicator, spanning over a hundred years in Nigeria.
(2)   The history of Community Bank cannot be completed without remembering the former president, Commander in Chief of the Armed Forces, General Ibarhim Badamasi Babangida, on the occasion commissioning of the First Community Bank in the Country Viz Adhere Community limited of the Tundun Wada Community Bank of Kaduna  in Kaduna State on 31st December 1990. the speech was unique and Historical, it spelt out to the rural Dwellers:
(a)  What are the objectives behind the establishment of the Community Banking system?
(b)  Have these objectives been attained
(c)  What are the functions of Community banks?
d)   What are the structures of National Board for Community Banks?
(e)  What are the internal controls of a Community bank case study Umuchinemere Community Bank?

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