The impact of internal security controls on cash management Mukwano Group of Companies Limited.
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Date
2008-10
Authors
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Journal ISSN
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Publisher
Kampala International University.College of Economics and Management
Abstract
The thesis is about the effect of Internal Security Control Systems (ICS) on cash management of a given organization where in these case Mukwano Group of Co. ltd., was the major organization evaluated. The primary purpose of the study was to examine
and evaluate the impact of internal security controls on cash management established by the management of the Mukwano Co. ltd., Kampala main branch with the aim of suggesting corrective measures that can be adopted to ensure that the systems are effective and efficient.
The researcher applied a survey research designing carrying out this research work which enabled the researcher to collect as many views as possible concerning internal controls in cash management in Mukwano Group of Co. ltd, Kampala. The research design was chosen because of its suitability in data collection. The sampling size used by the
researcher was 50 participants, where 20(twenty) were its management and 30(thirty) its employees. The data source used was from both primary and secondary sources. Primary data was obtained by use of questionnaires while secondary data was by use of document study such as journals and websites. The findings of the study show that the (ICS) of Mukwano Co. ltd., are strong and efficiently working and this explains why the company as enjoyed a tremendous success over these years. Secondly we can say this is due to its size in the organizational structure. The larger the company the more the effectiveness in its internal security controls system.
The recommendations of the study were; that the management of Mukwano Company should ensure that there is proper rotation of employees. Mukwano Company should ensure that all cheques are written in full names of the company, they should ensure that there is proper segregation of duties, and should ensure that there is proper authorization
of all transaction by the responsible official so as to avoid fraudulent activities within the company.
Description
Submitted to Kampala International University, School of Post Graduate Studies in partial fulfillment of the requirements for the Award of the Degree of Master in Business Administration Accounting Option"
Keywords
Internal security controls, Cash, Management, Companies