Internal auditing function and performance of multinational corporations in Uganda:a case study of mtn, Kampala Uganda.
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Date
2016-08
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University,College of Economics and Management
Abstract
This study sought to establish the effect of internal control system on performance of
Multinational Corporations. The study was driven by three objectives. These were; to examine
the effectiveness of the internal audit to determine the different types of internal audit practices
used and to establish the relationship between internal audit and performance. To achieve these
objectives, the researcher sampled forty (40) respondents, 57% were male and 43% were females
.The research was guided by three research questions. The first research question sought to find
out the effectiveness of internal audit function, research question two sought to find out the
different types of internal audit practices used and the third research question therefore sought to
find out the relationship between internal audit and performance, 50% of the respondents agreed
that the reporting relationship of internal audit is appropriate, 42.5% strongly agreed, 5% were
not sure and the 2.5% disagree. The findings revealed that there existed positive relationship
between the variables of study as conceptualized and that Multinational Corporations
perfbrmance had generally been fairy satisfactory and that internal Audit function in
Multinational Corporations was also fairy perforrning,35% of the respondents strongly agreed
and 60% were support of them, 2.5% were not sure and 2.5 disagree . The fair performance
being attributed to lack of complete independence of the internal auditors, inappropriate internal
controls, and managements’ reluctance to attend to the recommendations of the internal auditor
produced, 60% of the respondents agreed that the internal auditing department is independent
with 40% being in support of the statement. In a bid to improve performance, multinational
corporations management should ensure that politicians have limited influence in the works of
the internal auditor and that internal controls are always reviewed and evaluated so that they are
limited to manipulations and also put in place or strengthen disciplinary measures regarding
manipulation or override of these controls
Description
A research report submitted to the College of Economics and Management in partial fulfillment of the requirements for the Award of a Degree of International Business of Kampala International University
Keywords
Perfomance, Internal auditing, Corporations