This study,EVALUATION OF FINANCIAL ABUSE IN THE PUBLIC SECTOR (A CASE STUDY OF FEDERAL INLAND REVENUE SERVICE) contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References.
This research “work” financial Abuse in the public sector. An overview of federal inland revenue service entire relevant information towards the achievement of organizational goals. Therefore is the need for effective internal control. A system in order to give an organizational a sense of direction and allowing for it growth. The study sought to find out the financial management and waste in the public sector identify the key areas that cause all these abuse in the public sector and also to examine the method to be used in controlling the financial abuse.
TABLE OF CONTENT
Background of the study
Statement of the problem
Objective of the study
Statement of the hypothesis
Significance of the study
Scope of the study
Historical background of FIRS
Definition of terms
Definition of tax
Source of revenue to the federal government
External source of revenue
Internal control of funds in federal government
Population and sample size
Source and method of data collection
Method of data analysis
Justification for the choice
Data presentation, analysis and interpretation
Data presentation and analysis
Testing of hypothesis and interpretation
Summary of findings
Summary, conclusion and recommendation
Limitation of the study
BACKGROUND OF THE STUDY
The main objective of writing this project “on the evaluation of financial abuse in the federal inland revenue service” is to bring to the notice of the readers the source from which government derived its revenue and how its expenditure controlled and also to identify the evaluation of financial abuse in the federal inland revenue service and some control measure which the government can adopt in order to present the financial abuse in federal inland revenue service.
The appropriate govern46ment organ institution on largely responsible for the collection of tax is the federal inland revenue service while the office responsible for the accountability of the money collected on behalf of the government is the revenue mobilization and fiscal commission operated as a department in the federal ministry of finance.
As part of the re-organization the federal government of Nigeria found it necessary to create revenue division from federal ministry of finance. This made it an autonomous body known as Federal Inland Revenue service, the board become more effective in collection of revenue for the federal government.
Financial abuse in the public sector is an attempt by which the government allows the financial mismanagement, embezzlement and wastes in it’s sector and to identify the various key area that course all abuse in the public sector and also examine the method to used. All abuses therefore this research would go deeply into the plan in the organization in the financial aspects, check the accuracy and reliability of the accounting clate promote operational efficiency .and encourage adherence to prescribed official ‘polices and guideline.
In consideration of this topic, therefore is that there must be some element in which every organization must adopts the ones that are necessary for the controlling some financial transactions in that organization custody and security of Assets. The background of the study is to identify the various source of revenue for federal in land revenue service are as ‘follows, VAT, Personnel Income Tax, Custom Duties Company Income Tax, Education Taxe Capital Gain Tax, Import Duties and Export Duties Petroleum Profit Tax, etc are allocated to the various department project and to examine the financial record of federal inland revenue service to know whether there is adequate system of internal control in the organization. The evaluation of financial abuse in the federal Inland Revenue service encountered some likely peculiar issue has regarding to financial record accuracy of the tax administration in Nigeria have received a lot of attention and commentance, some people have advocated for an over haul of over system. That we should do things that are peculiar to Nigeria environment and these that are not should be left out. The board is faced with a lot of problems which include:
There are methods which should be used in detection of the effect of financial abuse in the ‘public sector as follows:
STATEMENT OF THE PROBLEM
Despite the enormous disadvantage of the financial abuse in the public sector, federal ‘inland revenue service is experiencing a lot of problems with regards to mismanagement of funds which includes the cost capturing is one of the financial abuse in the federal inland revenue service, the ‘officials are not available to record that mostly in respect of capital income tax and valued added tax which if properly capture would not boost the nation revenue base.
Delay in the remittance is another financial abuse in federal Inland Revenue service, inability of reflection of accurate figures in federation account, it extremely difficult which will result in exisizing fraud.
Failure of some staffs to declare their valued added tax collection and proper actions would not be taking in headquarters because of the involvement of some personnel in the headquarters, the revenue mobilization allocation and fiscal commission has urge federal Inland Revenue service to intensify its effort in recouvering huge amount of money from the tax collection.
OBJECTIVE OF THE STUDY
STATEMENT OF THE HYPOTHESIS
In every research work, it is every important for the researcher to make statement of hypothesis which may give the researcher the direction to think with respect to the research topic. This will enable the researcher to find a way of solving the research problem.
Research hypothesis usually give the researcher more insight into the problem under investigation thereby enabling the researcher to frame questions that are relevant to the research problems so as to find possible solutions to such problem for this research study, the following hypothesis would be formulated to enable the researcher to device means of solving research problem.
Ho = Evaluation of financial abuse in the public sector is not efficient
operation of federal Inland Revenue service
Ha = Evaluation of financial abuse in the public sector is the efficient
operation of federal Inland Revenue service
SIGNIFICANCE OF THE STUDY
The study will be of benefit to various people as follows:
SCOPE OF THE STUDY
In as much as the researcher desired to provide as much material facts as possible with respect to the topic under study a number of fact or prevented me from doing so. First is monetary constraints. The researcher faced the problems of financial disability which is needed from the beginning to the end of the research work lack of money has hindered me from collecting more data for the study.
Time limit was also a hitch in the pursuance of the project work. The researcher being a worker and student at the same time suffered the constraint of getting time to visit the school library and his supervisor for relevant information and enlightenment board in order to prevent financial uses in the limitation of the research of the study will also be highlighted once more.
HISTORICAL BACKGROUND OF THE FIRS
The Nigerian Federal Inland Revenue Service was created in 1943. It was carried from the erst while Inland Revenue Department that covered what was then the Aglophone West Africa (including Ghana, Gambia, Sierraleaon) during the colonial era.
Tax provider revenue to fund government ensures resource redistribution, streamlines consumption of certain goods and services reduce inflation and generates employment.
The Federal Inland Revenue Services is constitutionally empowered to collect taxes.
In 1958 the board of Inland Revenue was established under the income tax ordinance of 1958. The name was later changed in 1960 when the Federal board of Inland Revenue (FBIR) was established under section 4 of the companies and income tax Act (CITA) No 22 Of 1961 FBIR operated then as department in the federal ministry of finance a further transformation took place in 1993 when the finance (miscellaneous taxation provisions) Act No. 3 of 1993 established the Federal inland revenue service FIRS as the operational arm of FBIR the Act also created the office of the executive chairman of the board. In 2007, the Federal Inland Revenue service establishment Act (2007) which granted autonomy to the service was enhanced. The federal Inland Revenue service decided to publish a list of our operational offices, jurisdiction and telephone numbers.
This directory is a guide to all tax payers on how best they could access our services, it is our hope that this directory will foster continuous interaction between FIRS and tax payers and guide the service on how best we can serve you. The boards consist of:
1.8 DEFINITION OF TERMS
It is always necessary for the research to define terms that are frequently used in the research work the following are some of the terms used.
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