Internal Control System and Financial Performance of an Organisation. (Case Study: The Bible Society of Uganda)

ABSTRACT The study focused on examining the relationship between internal control system and financial performance in the Bible Society of Uganda. Data was collected using self administered questionnaires and interviews where a sample of 12 Employees from different departments were used as respondents. The Study used exploratory Survey design and respondents were selected using simple random sampling. Data was coded and entered in a computer and analyzed using frequencies and percentages to Test the validity and viability of research questions and the relationship between internal control system and the financial Performance. The methods used to collect data were both primary and secondary such as interviews. journals. questioners. research reports, texts books and publications of different scholars. The findings of the study revealed that there is a direct relationship between internal control system and financial performance. conclusion: Reference is made to well implemented internal control systems and procedures which ',ho11ld be sufficient to ensure efficient financial performance. an internal Auditor should be Horthy responsible for the inefficiencies in the internal control systems. recommendations 'he need to hire a competent and qualified Internal Auditor who can oversee the day-toay financial operations in the organization should be implemented. This will give BSU )ta! security of goods and services that will increase capital base, assets and reduce on the ompany liabilities.