Auditng practices and financial performance in business organizations in Kampala Central Division: a case study of Securex Amenities Limited Kampala Uganda
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Date
2018-05
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Kampala International University: College of Economics and Management
Abstract
This study sought auditing practices and financial performance in business organisations in Kampala Central Division, a case study of Securex Amenilies Limited Kampala Uganda. This study intends to establish the relationship be/wee" auditing practices and financial performance
in Business organizations, Securex Amenities Limited, with the following specific objectives. (i} To examine Auditing Practices carried out by auditors in Securex Amenities Ltd. to verify books of accounts of the organization. (ii) To examine how has auditing helped to improve decision making to directors of Securex Amenities Limited. (iii) To determine how auditing practice
helped in detecting and controlling of frauds and errors in !he financial books of Securex Amenities Ltd. The researcher used both a descriptive cross sectional survey design which included both qualitative and quantitative method of data collection, the quantitative method was used to collect numerical data in form of numbers representing particular facts or measurements which helped the researcher Ia obtain information from respondents in depth. From The findings data analysis that was done using SPSS's descriptive statistics if was find out that Male were the majority respondents as represented by 75 (or "75%) as regards 10 gender.
Furthermore the majority of the respondents agreed that auditing practices carried out by auditors in Securex Amenities Ltd. verify books of accounts of the organisation. This is evidenced in the strong agreements to questions sought by the researcher for example on whether the auditors are always recording using internal auditing practices had 50% oft he respondents who
strongly agreed. Based on the findings, it was concluded that the level of Auditing practices in Securex Amenities is to some extent reaching the set targets. For example the findings indicate that the majority of the respondents that change in financial performance of Securex Amenities
could be accounted for by changes in internal audit standards, independence of internal audit professional competency and internal control. The study also established that there was a strong positive relationship between .financial performance of Securex Amenities Ltd. and internal audit
standards, independence of internal audit, professional competency and internal control. From the study it was recommended that there is need for the internal auditors to continuously update themselves with the changing times and technologies and sharpen their skills. By applying skills to the most critical points, building personal and professional credibility and recognizing and responding to the needs, internal auditors can become indispensable thus speeding good governance and enhancing efficiency of internal audit.
Description
A research dissertation submitted to the College of Economics and Management in partial fulfillment of the requirements for the Award of The Bachelors Degree of Business Administration (Banking and Finance) of Kampala international University
Keywords
Auditng practices, Financial performance, Business organizations, Securex Amenities Limited