THE IMPACT OF INTERNAL CONTROL SYSTEM AND REVENUE GENERATION

Abstract

This study investigates the relationship between internal control systems and revenue generation in Benin City, Edo State. Utilizing a sample size of 134 participants, with 121 responses analyzed, the research delves into the impact of control environment, risk assessment, control activities, and employee training on revenue outcomes. The findings reveal a significant relationship between control environment and revenue generation, highlighting the crucial role of robust control mechanisms within organizations for optimizing revenue outcomes. Control activities were also found to have a significant impact on revenue generation, emphasizing the importance of effective control measures. However, risk assessment was found to have no significant influence on revenue generation, suggesting the dominance of other factors within the internal control framework. Moreover, employee training emerged as a significant factor, underlining the importance of well-trained personnel in implementing internal controls effectively. These insights contribute to a better understanding of how internal control systems can be leveraged to enhance revenue generation in organizations, particularly in the context of Benin City