The role of internal control systems to the development of private sectors: a case study of Jessa dairy farm
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Date
2018-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University, College of Economics and Management.
Abstract
The backward development in the private sector has been attributed to weakness in the internal control systems in the private sector. Huge amount of money is lost due to internal control systems inadequacies and other criminal temptations, which to say the least, drains the nations meager resources with its far reacting and attendant consequences on the development. This private sector does not have strong policies and systems to check these activities in the private sectors. A sample size of size 50 respondents was drawn from the population. The convenience sampling technique was used to select the employees while purposive sampling techniques was used to select management in the farm. Questionnaire was the main instrument used to collect data tables, and bar chats were used to determine the frequencies and the percentages in data analysis. The study revealed that internal contest system had been effective at the farm as the result of effective supervision, segregation of duties, proper authorities and approval. Internal control systems face some problems in its implementation such as poor judgment in decision making and due to carelessness, and fatigue. The study concludes that internal control system at Jessa dairy farm had been effective and efficient having positive effect on employee satisfaction.
Description
A research report submitted to the college of economics and management sciences in partial fulfillment of the requirements for the award of a bachelor degree in business administration in accounting and finance of Kampala International University
Keywords
Internal Controls, Systems, Private sectors, Development, Jessa dairy farm