Role of Internal Control Systems in the Promotion Of accountability In Bundibugyo District Local Government
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Date
2008-08
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University, bachelors degree in business administration
Abstract
Internal control is the process designed and effected by those charged
with governance, management and other personnel to provide
assurance about the achievement of the organization's objectives with
regard to reliability of financial reporting.
Internal control systems consist of the following components;
► The control environment which also encompasses the following;
• Communication and enforcement of integrity and ethical
values
• Communication competence
• Organization structure
• Participation by those charged by governance
• Management philosophy and operating cycle
• Human resource policies and practice
► The organization risk assessment process
► The information system including the related business system
► Control activities which pertain to performance reviews,
information processing, segregation of duties and physical
controls and
► Monitoring controls
The way in which internal control systems are designed and
implemented varies with the organization's size and complexity. ,
Specifically smaller organizations may use less formal means and
simpler processes and procedures to achieve their objectives and
promote accountability. For example smaller organizations with
effective management in financial reporting process may not have
extensive descriptions of accountability procedures or detailed written
policies.
Therefore, the components of an internal control system may not be
clearly distinguished within smaller organizations but their underlying
purposes are equally valid.
Description
A Research Report Presented to the School Of Business and Management as a Partial Fulfillment for the Award of Bachelor of Business Administration of Kampala International University
Keywords
Internal Control Systems, Promotion Of accountability, Bundibugyo District Local Government