International control system and its effect on cash management at pride microfinance limited
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Date
2015-05
Authors
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Journal ISSN
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Publisher
Kampala International University.College of Humanities and social science
Abstract
The study looked at the effectiveness of internal control in the
management of cash at pride micro finance limited.
It was guided by the following objectives; to establish the effectiveness
of internal controls at pride microfinance limited (mdi) in the
management of cash; to find out whether there is a likelihood of a risk
arising due to non strict observance of the internal controls in cash
management; and to find out whether there may be certain changes that
may be made to the available internal controls as regards cash
management. The study used both questionnaires and an interview
guide to collect data. The study established that that much as most internal controls are not
very effective in pride micro finance limited, they all exist, meaning that
pride microfinance has internal control and procedures for the handling
of cash. He only problem is the degree to which these procedures are
handled.
It further established that many risks are likely to arise ci.ue to non strict
observance of internal controls in cash management. And they include;
cash to meet depositors' demands will be lacking, misappropriation of
cash by falsifying records of subsequent transactions will happen and
cash in vaults if not well recorded can disappear. The study concluded that effective internal control system in cash management plays a vital role in ensuring that the livelihood of cash
disappearing and the correctness in its handling becomes improved.
Despite this importance, some internal controls are still being neglected
at pride microfinance and as such inefficiencies in cash management are
recurrent.
Description
Dissertation submitted in partial fulfilment of the requirements for the award of the degree of bachelor of Procurement and Supply Management of Kampala International University
Keywords
International, Control system, Cash, Management, Pride microfinance