African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4196

Full Length Research Paper

Internal control systems and organizational performance in Small and Medium Enterprises (SMEs) in Nigeria

Tunde Olufisayo Ajala
  • Tunde Olufisayo Ajala
  • Bursary Department, Koladaisi University, Ibadan, Oyo State, Nigeria.
  • Google Scholar
Babatunde Moses Ololade
  • Babatunde Moses Ololade
  • Department of Accounting, Faculty of Management Sciences, Redeemer’s University, Ede, Osun State, Nigeria.
  • Google Scholar
John Olatunde Olaleye
  • John Olatunde Olaleye
  • Department of Management and Accounting, Faculty of Management and Social Sciences, Lead City University, Ibadan, Oyo State, Nigeria.
  • Google Scholar
Kehinde Babatunde Abass
  • Kehinde Babatunde Abass
  • Department of Finance, Faculty of Management Sciences, Babcock University, Ilisan Remo, Ogun State, Nigeria.
  • Google Scholar


  •  Received: 09 January 2023
  •  Accepted: 23 March 2023
  •  Published: 30 April 2023

References

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Adekunle OA, Ola TO, Ogunrinade R, Odebunmi AT (2021). The role of cooperative societies in advancing small and medium scale enterprises in Osun State, Nigeria. Journal of International Business and Management 4(6):1-13.

 

Ahmad N, Mahmood A, Han H, Ariza-Montes A, Vega-Muñoz A, Iqbal Khan G, Ullah Z (2021). Sustainability as a "new normal" for modern businesses: Are SMES of Pakistan ready to adopt it?. Sustainability 13(4):1944.
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Attah-Botchwey E (2018). Internal control as a tool for efficient management of revenue mobilization at the Metropolitan, Municipal and District Assemblies in Ghana: a case study of Accra metropolitan assembly. American International Journal of Contemporary Research 8(1):29-36.

 

Barney J (1991). Firm resources and sustained competitive advantage: Journal of Management 17(1):99-120.
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Bure M, Tengeh RK (2019). Implementation of internal controls and the sustainability of SMEs in Harare in Zimbabwe. Entrepreneurship and Sustainability Issues 7(1):201-215.
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COSO (2013). Internal control - Integrated framework. Executive summary. Available at:

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D'Mello R, Gao X, Jia Y (2017). Internal control and internal capital allocation: evidence from internal capital markets of multi-segment firms. Review of Accounting Studies 22(1):251-287.
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Dubihlela J, Nqala L (2017). Internal controls systems and the risk performance characterizing small and medium manufacturing firms in the Cape Metropole. International Journal of Business and Management Studies 9(2):87-103.

 

Ernst and Young (2003). An evaluation of internal control: Considerations for evaluating internal control at the entity level. Available at:

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Hair JF, Hult GT, Ringle CM, Sarstedt M (2017). A primer on partial least squares structural equation modeling (PLS-SEM), 2nd edition. Thousand Oaks, CA: Sage.

 

Heywood JS, Jirjahn U, Struewing C (2017). Locus of control and performance appraisal. Journal of Economic Behavior and Organization 14(2):205-225.
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Ipinnaiye O, Dineen D, Lenihan H (2017). Drivers of SME performance: a holistic and multivariate approach. Small Business Economics 48(4):883-911.
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Kabuye F, Kato J, Akugizibwe I, Bugambiro N (2019). Internal control systems, working capital management and financial performance of supermarkets. Cogent Business and Management 6(1):1573524.
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Khakhonova N (2021). Internal control as an effective tool of the small business management system: The Scientific Heritage 60(3):41-42.

 

Nawawi A, Salin AS (2018). Internal control and employees' occupational fraud on expenditure claims. Journal of Financial Crime 25(3):891-906.
Crossref

 

Sofyani H, Hasan HA, Saleh Z (2021). Internal control implementation in higher education institutions: determinants, obstacles and contributions toward governance practices and fraud mitigation. Journal of Financial Crime 29(1):141-158.
Crossref

 

Souto JE (2021). Organizational creativity and sustainability-oriented innovation as drivers of sustainable development: overcoming firms' economic, environmental and social sustainability challenges. Journal of Manufacturing Technology Management 33(4):805-826.
Crossref

 

Vu Q, Nga NTT (2022). Does the implementation of internal controls promote firm profitability? Evidence from Vietnamese small-and-medium-sized enterprises (SMEs). Finance Research Letters 45:102178.
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Wang L, Dai Y, Ding Y (2019). Internal control and SMEs' sustainable growth: the moderating role of multiple large shareholders. Journal of risk and financial Management 12:182-196.
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Yang X, Li B (2019). Research on the influence of internal control quality on the Growth of SMEs. In 2019 3rd International Conference on Education, Economics and Management Research (ICEEMR 2019), Atlantis Press. pp. 689-693.
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Yangklan P (2022). The internal control affects the evaluation of the balance scorecard organization of small and medium-size businesses in Thailand. Journal of Positive School Psychology 6(5):960-966.

 

Zainal SF, Hashim HA, Ariff AM, Salleh Z (2022). Research on fraud: an overview from small medium enterprises (SMEs). Journal of Financial Crime 29(4):1283-1296.
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