The effect of internal control system on management of micro finance institutions:
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Date
2009-09
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University, College of Economics and Management
Abstract
The study intended to investigate the internal control system and cash
management in an organization case study: Women Trust microfinance limited
Entebbe road Kampala branch with the objectives of finding out the
relationship between internal control system and cash management in Women
Trust microfinance Limited and to suggest recommendations on the
improvement of internal controls on cash management.
The purpose of this study was to investigate the internal control systems and
cash management in an organization case study: Women Trust microfinance
limited Entebbe road Kampala branch.
In data collection process, the researcher used instruments such as
administered questionnaires and interviewing of primary data, and extensive
distribution and frequency distribution and frequency distribution.
Therefore, the study found out that, internal control systems and cash
management benefited the organization in terms of improved productivity,
profitability, and efficiency, however, the employees were not adequately
sensitized about the internal control systems and cash management process in
Women Trust microfinance Uganda limited in addition, the internal control
system and cash control management method applied in Women Trust
microfinance Uganda limited was not appropriate enough and the government
had attained the both the economic and fiscal objectives like the increase in
volume of goods and services and increase in tax revenue. It was therefore
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concluded that, internal control system seem to have brought good impact on
the cash management of the organization in term of improved performance,
efficiency and effectiveness in the economy in general in terms of improved
performance, efficiency and effectiveness in the economy in general in terms of
increased investments and improved productivity. Although the doubt is still
seem in terms of the method applied in Women Trust microfinance Uganda
limited. Hence this has left the government still in big influence of some
valuable decisions to the organization which could impact on its performance.
Thus recommendations to the government.
Description
A research report submitted to the School of Business and Management in partial fulfillment of the Requirements for award of the Degree of Bachelor of Business Administration to Kampala International University
Keywords
Internal control system, Management, Microfinance institutions, Tororo District