Management control system in selected micro finance institutions in central region, Uganda.

Abstract

This study was undertaken to examine the levels of Management Control system in the selected Micro-finance institutions central region,‭ ‬Uganda.‭ ‬The expost facto or retrospective,‭ ‬prospective designs and descriptive survey design,and specifically descriptive comparative and descriptive correlation strategies were employed.‭ ‬A minimum sample of ‬266‭ ‬was used in data collection and analysis.‭ ‬Data was analysed using means and t-test.‭ ‬The findings revealed that the level of management control system in the micro-finance institutions in central region Uganda is efficient with an overall mean of‭ ‬3.23.The contingency theory by Joan Wood wards‭ (‬1958‭) ‬as cited and explained by Simons‭’ (‬1995‭)levers of management system control model was authenticated and validated. The conclusion was drawn that the level of Management control system was generally efficient and it was recommended that Micro-finance institutions should enhance,‭ ‬strengthen set and establish strong and effective control systems:‭ ‬all of the financial,‭ ‬operational and other control systems which are carried out by internal controllers and which involve budgeting,‭ ‬monitoring,independent evaluation and timely reporting to management levels systematically in order to ensure that all the institutions activities are performed by management levels in accordance with current policies,‭ ‬methods,‭ ‬instructions and limit.