The effect of the internal control system on the performance of the department of finance in Kampala International University In Kampala-Uganda
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Date
2017-10
Authors
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Journal ISSN
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Publisher
Kampala International University, College of Economics and Management
Abstract
This study analyzed the effect of the internal control system on the performance of the de
partment of finance in Kampala International University in Kampala -University has been
done in order to assess the relationship between these variables, the research guided by ob
jectives of the study and they are: To examine to what extent that the control environment
ofiCS prevents fraud and comply with the financial performance of the University, To eva
luate the importance of financial information and communication of internal control system
for the performance of the University, To assess the relationship between internal control's
risk management and the performance of the University. To determine the pattern of
change in relation to time, a cross sectional design was used, the relevant data was col
lected from the respondents through three different data collection tools in order to get re
levant information from the field. These included, questionnaires, interviews and documen
tary analysis all these yielded a lot of relevant information which supported the study sig
nificantly. This study was carried out on Kampala International University in Kampala
Uganda, The period of the study was 2014 to 2017, and the target populations are the
whole department of finance and accounting of KIU. The researcher found that KIU estab
lished internal control system; also the study revealed that the KIU establishes procedures
to identifY Accounting problems, also KIU uses procedures to protect their asset, and other
finding revealed that KIU establishes procedures to identify Accounting problems, also the
researcher found that the University's business risks are not adequately monitored and eva
luated, because of that the University can meet risks without contingency plan, also they
agreed that the level of assessed level of control risk in Kampala International University
is too low, and that will result uncontrollable risks in the University, also the respondents
agreed that KIU doesn't have procedures for managing the main risks been defined. Based
on the findings of the study the researcher suggests recommendations about K.IU should
make regular Audit and, spot checks in the department of finance in the company, internal
control must include specific internal Audit of Accounting, also the company must use pro
cedures for preparing the financial statements applied in every consolidated, University's
business risks must be adequately monitored and evaluated, the University should make
maximum level to protect risks, KIU must have procedures for managing the main risks
been defined, also KIU should locate some financial resource to implement and supervise
risk management procedures, to protect the fraud the employee should not be trusted; the
University's financial past risks must be taken into consideration.
Description
A dissertation submitted to the College Of Applied Economics and Management Sciences in partial fulfillment of the requirements for the Award of Bachelor of Business Administration Degree at Kampala International University
Keywords
Internal control, System, Kampala-Uganda