The study will determine and establish the connection between internal auditing and internal cont... more The study will determine and establish the connection between internal auditing and internal control systems on financial performance in an Institution of higher learning in Uganda. Internal controls will look at from the perception of Control background, Internal Audit and Control Activities whereas financial performance will focus on Liquidity, responsibility and Reporting as the trial of financial performance and internal control. The Researcher will commence to generate the causes of continual poor financial performance from the viewpoint of internal controls. Research will be conducted using both quantitative and qualitative approach using Survey, relationship and Case study as Research Designs. Data will be collected using Questionnaires and Interview guide as well as appraisal of available documents and records targeting essentially Deans, Heads of Departments, Management Committee members, and Finance and Accounts staff as respondents from a population of 302 Ugandans. Data will be analyzed using the Statistical Package for Social Scientists where conclusions will be drawn from tables, figures from enclose. The study will establish that management of the institution is dedicated to the control systems, energetically participates in monitoring and supervision of the activities of the University, all the activities of the Institution’s activities are initiated by the top level management, that the internal audit department is not efficient, is understaffed, doesn’t conduct regular audit activities and doesn’t produce regular audit reports although the few reports produced by the internal audit department address weaknesses in the system. It will further be revealed that there is a clear separation of roles, weaknesses in the system are addressed, and there is a training program for capacity building in the institution. However, the study will also find out that there is lack of information sharing and inadequate security measures to safeguard the assets of the University. It will also be noted that there isn’t enough cash to meet intended University goals, that the fees charged to students are not appropriate to cover costs, that all fees meant to be remitted to the University are not collected. It will however, be revealed that all revenues and expenditures are properly classified, and that assets of the University have generally increased. The study will establish a significant relationship between internal control system and financial performance. The investigation will recommend competence profiling in the Internal Audit department which should be based on what the University expects the internal audit to do and what appropriate number staff would be required to do this job. It will also recommend that the institution establishes and manages knowledge/information management system to enable all parties within the institution to freely access and utilize the official information. There should be a strategy improve the generation of additional finances for the University. The Study therefore will conclude that internal control systems do function although with there is a significant relationship between internal control systems and financial performance in an Institution of higher learning.
The study will determine and establish the connection between internal auditing and internal cont... more The study will determine and establish the connection between internal auditing and internal control systems on financial performance in an Institution of higher learning in Uganda. Internal controls will look at from the perception of Control background, Internal Audit and Control Activities whereas financial performance will focus on Liquidity, responsibility and Reporting as the trial of financial performance and internal control. The Researcher will commence to generate the causes of continual poor financial performance from the viewpoint of internal controls. Research will be conducted using both quantitative and qualitative approach using Survey, relationship and Case study as Research Designs. Data will be collected using Questionnaires and Interview guide as well as appraisal of available documents and records targeting essentially Deans, Heads of Departments, Management Committee members, and Finance and Accounts staff as respondents from a population of 302 Ugandans. Data will be analyzed using the Statistical Package for Social Scientists where conclusions will be drawn from tables, figures from enclose. The study will establish that management of the institution is dedicated to the control systems, energetically participates in monitoring and supervision of the activities of the University, all the activities of the Institution’s activities are initiated by the top level management, that the internal audit department is not efficient, is understaffed, doesn’t conduct regular audit activities and doesn’t produce regular audit reports although the few reports produced by the internal audit department address weaknesses in the system. It will further be revealed that there is a clear separation of roles, weaknesses in the system are addressed, and there is a training program for capacity building in the institution. However, the study will also find out that there is lack of information sharing and inadequate security measures to safeguard the assets of the University. It will also be noted that there isn’t enough cash to meet intended University goals, that the fees charged to students are not appropriate to cover costs, that all fees meant to be remitted to the University are not collected. It will however, be revealed that all revenues and expenditures are properly classified, and that assets of the University have generally increased. The study will establish a significant relationship between internal control system and financial performance. The investigation will recommend competence profiling in the Internal Audit department which should be based on what the University expects the internal audit to do and what appropriate number staff would be required to do this job. It will also recommend that the institution establishes and manages knowledge/information management system to enable all parties within the institution to freely access and utilize the official information. There should be a strategy improve the generation of additional finances for the University. The Study therefore will conclude that internal control systems do function although with there is a significant relationship between internal control systems and financial performance in an Institution of higher learning.
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Research will be conducted using both quantitative and qualitative approach using Survey, relationship and Case study as Research Designs. Data will be collected using Questionnaires and Interview guide as well as appraisal of available documents and records targeting essentially Deans, Heads of Departments, Management Committee members, and Finance and Accounts staff as respondents from a population of 302 Ugandans. Data will be analyzed using the Statistical Package for Social Scientists where conclusions will be drawn from tables, figures from enclose.
The study will establish that management of the institution is dedicated to the control systems, energetically participates in monitoring and supervision of the activities of the University, all the activities of the Institution’s activities are initiated by the top level management, that the internal audit department is not efficient, is understaffed, doesn’t conduct regular audit activities and doesn’t produce regular audit reports although the few reports produced by the internal audit department address weaknesses in the system. It will further be revealed that there is a clear separation of roles, weaknesses in the system are addressed, and there is a training program for capacity building in the institution. However, the study will also find out that there is lack of information sharing and inadequate security measures to safeguard the assets of the University. It will also be noted that there isn’t enough cash to meet intended University goals, that the fees charged to students are not appropriate to cover costs, that all fees meant to be remitted to the University are not collected. It will however, be revealed that all revenues and expenditures are properly classified, and that assets of the University have generally increased. The study will establish a significant relationship between internal control system and financial performance.
The investigation will recommend competence profiling in the Internal Audit department which should be based on what the University expects the internal audit to do and what appropriate number staff would be required to do this job. It will also recommend that the institution establishes and manages knowledge/information management system to enable all parties within the institution to freely access and utilize the official information. There should be a strategy improve the generation of additional finances for the University.
The Study therefore will conclude that internal control systems do function although with there is a significant relationship between internal control systems and financial performance in an Institution of higher learning.
Research will be conducted using both quantitative and qualitative approach using Survey, relationship and Case study as Research Designs. Data will be collected using Questionnaires and Interview guide as well as appraisal of available documents and records targeting essentially Deans, Heads of Departments, Management Committee members, and Finance and Accounts staff as respondents from a population of 302 Ugandans. Data will be analyzed using the Statistical Package for Social Scientists where conclusions will be drawn from tables, figures from enclose.
The study will establish that management of the institution is dedicated to the control systems, energetically participates in monitoring and supervision of the activities of the University, all the activities of the Institution’s activities are initiated by the top level management, that the internal audit department is not efficient, is understaffed, doesn’t conduct regular audit activities and doesn’t produce regular audit reports although the few reports produced by the internal audit department address weaknesses in the system. It will further be revealed that there is a clear separation of roles, weaknesses in the system are addressed, and there is a training program for capacity building in the institution. However, the study will also find out that there is lack of information sharing and inadequate security measures to safeguard the assets of the University. It will also be noted that there isn’t enough cash to meet intended University goals, that the fees charged to students are not appropriate to cover costs, that all fees meant to be remitted to the University are not collected. It will however, be revealed that all revenues and expenditures are properly classified, and that assets of the University have generally increased. The study will establish a significant relationship between internal control system and financial performance.
The investigation will recommend competence profiling in the Internal Audit department which should be based on what the University expects the internal audit to do and what appropriate number staff would be required to do this job. It will also recommend that the institution establishes and manages knowledge/information management system to enable all parties within the institution to freely access and utilize the official information. There should be a strategy improve the generation of additional finances for the University.
The Study therefore will conclude that internal control systems do function although with there is a significant relationship between internal control systems and financial performance in an Institution of higher learning.