Audit Professionalism, Internal Audit Function and Budget Performance Among Selected Parastatals in Uganda; A Case Of Uganda Railway (Urc}

TABLE OF CONTENTS

APPROVAL ....................................................................................................................................................................... .iii

DEDICATION .................................................................................................................................................................... iv

ACKNOWLEDGEMENT ................................................................................................................................................. v

LIST OF ACRONYMS AND ABBREVIATIONS ............................................................................................... viii

ABSTRACT .......................................................................................................................................................................... x

CHAPTER ONE .................................................................................................................................................................. 1

INTRODUCTION .............................................................................................................................................................. 1

1.0 Introduction ............................................................................................................................................................. 1

1.1Background to the Study ........................................................................................................................................ 1

1.1.lHistorical perspective .......................................................................................................................................... 1

1.1.2Theoretical Perspective ...................................................................................................................................... 2

1.2Statement of the Problem ...................................................................................................................................... 5

1.3 Purpose of the Study ............................................................................................................................................... 6

1.4 Objectives of the Study .......................................................................................................................................... 6

1.5 Research Questions ................................................................................................................................................. 6

1.6 Scope of the Study .................................................................................................................................................... 6

1.6.1 Subject Scope .......................................................................................................................................................... 6

1.6.2 Geographical Scope .............................................................................................................................................. 7

1.6.3 Time Scope ............................................................................................................................................................... 7

1. 7 Significance of the study ....................................................................................................................................... 7

1.8 Definition of Key Terms ........................................................................................................................................ 7

CHAPTER TWO ................................................................................................................................................................ 8

LITERATURE REVIEW ................................................................................................................................................. 8

2.1. Conceptual frame work ........................................................................................................................................ 8

2.2. Theoretical Review ................................................................................................................................................. 9

2.3. The Relationship between Audit professionalism and budget performance .......................... 10

2.3.1 Audit professionalism ..................................................................................................................................... 10

2.3.2 Budget performance ........................................................................................................................................ 11

2.4-The relationship between internal audit function, and budget performance ........................... 13

2.4.1 lnternal audit function .................................................................................................................................... 13

2.5. Relationship between audit professionalism, internal audit function, and budget

performance .................................................................................................................................................................... 15

2.6. The factor structure of audit professionalism, internal audit function, and budget

performance. ·································· ................................................................................................................................. 15

vi

CHAPTER THREE ......................................................................................................................................................... 17

RESEARCH METHODOLOGY ................................................................................................................................. 17

3.0 Introduction ............................................................................................................................................................. 17

3.1 Research design ..................................................................................................................................................... 17

3.2 Study population ................................................................................................................................................... 17

3.7 Data collection instruments ............................................................................................................................. 19

3.7.1 Questionnaire ...................................................................................................................................................... 19

3. 7.2 Interview guide ................................................................................................................................................... 19

3.8 Validity and Reliability ........................................................................................................................................ 20

3.9 Ethical Considerations ........................................................................................................................................ 20

3.11 Data analyses ........................................................................................................................................................ 20

CHAPTER FOUR ............................................................................................................................................................ 22

PRESENTATION, INTERPRETATION AND FINDINGS .................................................................. 22

4·.1lntroduction .............................................................................................................................................................. 22

4.2Findings on description of respondents ...................................................................................................... 22

4.3 Findings on the relationship between audit professionalism and budget performance ... 24

4.4Findings on the relationship between internal audits function and budget performance in

URC ....................................................................................................................................................................................... 25

4.4 Findings on the factor structure of audit professionalism, internal audit function, and

budget performance .................................................................................................................................................... 27

CHAPTER FIVE ......................................................................................................................................... 29

SUMMARY, CONCLUSION AND RECOMMENDATIONS ................................................................ 29

5.1 Summary of the Study Findings ..................................................................................................................... 29

5.2 Conclusion ................................................................................................................................................................. 32

5.3Recommendations ................................................................................................................................................. 32

5.3.1 The relationship between Audit professionalism and budget performance ........................ 32

5.3.2 Relationship between audit professionalism, internal audit function and budget

performance .................................................................................................................................................................... 3 3

5.4. Areas for further research ............................................................................................................................... 33

REFERENCES .................................................................................................................................................................. 34

APPENDICES ................................................................................................................................................................... 38

APPENDIX ONE: QUESTIONNAIRES .................................................................................................................... 38

APPENDIX 2: INTERVIEW GUIDE ......................................................................................................................... 42

APPENDIX 3: BUDGET ESTIMATES .................................................................................................................... 43