Audit professionalism, internal audit function and budget performance among selected parastatals in Uganda:
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Date
2017-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University, School of Economics and management
Abstract
ABSTRACT
The study focused on Audit professionalism, internal audit function, and budget performance
among selected parastatals of Uganda. The objectives of the study were: to examine the
relationship between audit professionalism and budget performance, to examine the
relationship between internal audit function, and budget performance, to study the factor
structure of audit professionalism, internal audit function, and budget performance.
The research design was cross-sectional and descriptive using Quantitative approach the
study population was 210. Purposive sampling techniques were used. The sample was 132
from staff of selected parastatals in various departments. Data was analyzed using SPSS
version 20.
The findings show that there was a positive relationship between audit professionalism and
budget performance (.594, P<0.01), a positive relationship between Audit professionalism
and as well as budget performance (r=.659, P<0.01) and also positive relationship between
Audit professionalism and budget performance (r=.697, P=<0.01).
Lastly, the regression analysis shows that Adjusted R Square was .785 and the main
predictor was internal audit functions (.864) to which Audit professionalism, internal audit
function determine budget performance.
I also recommend that quality assurance (35.93%), Compliance level (15,602), and proper
adequacy of the system be maintained and strengthened to ensure better budget
performance.
The study recommends that parastatals hire professional auditors who are able to review all
transactions for the period; all internal controls can be implemented without being
undermined by staff. All political interferences in the activities of parastatals can be
discouraged so as to create a smooth atmosphere for the proper management of the
parastatals.
Description
A research proposal submitted to the college of economics and management in partial fulfillment of the requirements for the award of the Bachelor's Degree of Business administration of Kampala International University
Keywords
Audit professionalism, Internal audit function, Budget performance, Railway (URC), Uganda