Chapter Four

Data Presentation

4.1 Data Presentation and Analysis

The data used for analysis and drawing inferences as regards the study are
presented in this section. This data as extracted from responses from respondents
relate to risk assessment, control activities and monitoring.

Table 4.1 Risk assessment, control activities and monitoring

Options Risk Assessment Control Activities Monitoring

Strongly Agree 40 35 45

Agree 50 47 42

Undecided 35 43 37

Disagree 60 55 52

Strongly Disagree 35 45 49

Source: Author’s Computation

4.2 Analysis of Data

The nature of the study and hypotheses make it impossible to have duality of

(dependent and independent) variables. Also, there is an even greater challenge of

determining the population mean (whose availability would have created the need

to apply z-score analysis), therefore the one-sample t-test is used to analyze the

hypotheses.

Consequently, the analysis and implications are considered below:

HYPOTHESES TESTING
Hypothesis One

HO The risk assessment system of private schools in Port Harcourt is not

effective.
HA The risk assessment system of private schools in Port Harcourt is
effective.

Table 4.2 One-Sample Statistics for Risk Assessment

N Mean Std. Std. Error

Deviation Mean
RAS 45 4.4000 1.97498 1.24980

The table above shows that on the average, respondents “strongly agree” to the

notion that risk assessment system of private schools in Port Harcourt metropolis is

effective. The standard deviation is seen to be 1.97 indicating that the mean

response could be altered in either direction by as much as 1.97 units of the mean.

Table 4.3 One-Sample Test for Risk Assessment

Test Value = 0

t df Sig. (2- Mean 95% Confidence Interval of the

tailed) Difference Difference

Lower Upper

RAS 4.224 44 .013 4.40000 9.0478 43.7522

As regards the hypothesis, the computed t-statistics is 4.224 with a p-value that is

0.013. This (p-value) is lesser than the significant threshold of 0.05 therefore the

null hypothesis is rejected, while the alternate hypothesis is accepted. Thus, risk

assessment systems of private schools in Port Harcourt are effective.

Hypothesis Two

HO The control activities system of private schools in Port Harcourt is not

effective.
HA The control activities system of private schools in Port Harcourt is
effective.

Table 4.4 One-Sample Statistics for Cobtrol Activities

N Mean Std. Std. Error

Deviation Mean

CAC 45 4.8800 1.40754 1.10161

The table shows the average response by respondents to each of the subject of

control activities in private schools. From the output in Table 4.4 above, that on the

average, respondents believe and “strongly agree” that private schools in Port

Harcourt metropolis adopt sound control activities as part of their overall internal

control framework. The standard deviation is seen to be 1.41, indicating that the

mean response could be altered in either direction by as much as 1.41 units of the

mean.

Table 4.5 One-Sample Test for Control Activities

Test Value = 0

t df Sig. (2- Mean 95% Confidence Interval of the

tailed) Difference Difference

Lower Upper

CAC 5.073 44 .007 4.88000 11.7157 40.0443

As regards the hypothesis, the computed t-statistics is 5.073 with a p-value that is

0.007. This (p-value) is lesser than the significant threshold of 0.05 therefore the

null hypothesis is rejected, while the alternate hypothesis is accepted. Therefore,

the control activities systems of private schools in Port Harcourt are effective.

Hypothesis Three

HO The monitoring system of private schools in Port Harcourt is not

effective.
HA The monitoring system of private schools in Port Harcourt is
effective.

Table 4.6 One-Sample Statistics for Monitoring

N Mean Std. Std. Error

Deviation Mean

MO
45 4.2800 1.43771 1.00953
N

The table shows the average response by respondents to each of the subject of

monitoring in the organisation. From the output in Table 4.6 above, that on the

average, respondents believe and “strongly agree” that private schools in Port

Harcourt metropolis adopt monitoring as part of the internal control system. The

standard deviation is seen to be 1.44 indicating that the mean response could be

altered in either direction by as much as 1.44 units of the mean.

Table 4.7 One-Sample Test for Monitoring

Test Value = 0
 t df Sig. (2- Mean 95% Confidence Interval of the
tailed) Difference Difference

Lower Upper

MO
4.373 44 .012 4.28000 9.5949 42.9651
N

As regards the hypothesis, the computed t-statistics is 4.039 with a p-value that is

0.012. This (p-value) is obviously lesser than the significant threshold of 0.05

therefore the null hypothesis is rejected, while the alternate hypothesis is accepted.

Therefore, monitoring systems in private schools in Port Harcourt are effective.

4.4 Discussion of Findings

The results above show that most of the respondents have strong affirmation

regarding the existence and effectiveness of risk assessment modalities and system

of private schools in Port Harcourt. This generally implies employees and

personnel of private schools in Port Harcourt identify, appreciate and acknowledge

the structures, procedures, modalities and processes that define the internal control

system of the schools they work for.

It can thus be argued that most personnel, who by virtue of their positons should

have informed knowledge regarding the appropriateness of budget preparation

mechanism, are quite ignorant of the procedures. This is reinforced by the fact that

the hypothesis proves efficiency in budget preparation procedures.

The results also show that the respondents strongly agree to the installation of risk

assessment systems in private schools in Port Harcourt. This connotes that staff

and management of such schools are capable of identifying and profiling risk on

the basis of likelihood/frequency and impact of such risks. This should engender

proper risk management system, where the nature and profile a particular risk

determines the treatment given to it. For instance, through risks assessment system,

risks with high impact and likelihood are avoided, risks with high frequency and

low impact are transferred, risks with high impact and low frequency are reduced,

while risks with low impact and frequency are accepted. Thus profiling and sorting

of risk is only possible where sound risk assessment system exists.

It is also observed that the selected institutions have sound system of control

activities. This implies that checks, specific and well defined roles are assigned to

different employees who work in an inter-connected manner and system. Beyond

this, control limits, periodic review and approval/authorisation structures make

monitoring a critical aspect of the internal control system.

 Chapter Five

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMMENDATION

5.1 Summary of Findings
The study has provided some empirical findings. For instance, it is observed

from the study that:

1. The risk assessment system of private schools in Port Harcourt is

effective.

2. The control activities system of private schools in Port Harcourt is

effective.

3. The monitoring system of private schools in Port Harcourt is

effective.

5.2 Conclusion
The study’s main objective (as established earlier) is to appraise the

effectiveness of internal control systems in private schools in Port Harcourt.

The findings from the study form our conclusion that indeed, the internal

control systems of private schools in Port Harcourt are effective. This

 connotes that private schools have implemented mechanisms and structures

that protect their assets and prevent risks and fraud.

It can also be inferred from the findings that management of privately owned

private schools in Port Harcourt are conscious and sensitive to workplace

safety, business survival/going-concern as well as the protection of valuable

assets of the business as these are the core gains achieved by the installation

of internal control systems in any organisation.

5.3 Recommendations
Sequel to the findings and deductions from this study, the following

recommendations are proffered:

(1) Risk assessment system should be matched with appropriate risk

management system.

(2) Control activities should not be too complex and stringent; therefore,

school managements should simplify such control activities.

(3) Modern tech-based monitoring devices such as CCTV should be used

in private schools.