The research report was on the effect of internal control system and Financial Performance in
Dahabshiil money transfer Company in Kampala -Uganda. Its objectives were to examine to
what extent that the control environment of JCS prevents fraud and comply with the Financial
Performance of the company; to evaluate the importance of financial information and
communication of JCS for the performance of the company; and to assess the relationship
between the risk Assessments of !CS and the performance of the company.
The study used the analytical cross sectional design. Both analytical and descriptive design
approaches were used in the collection and analysis of data. To determine the outline of change
in relation to time, a cross sectional design was used. Cross sectional studies are useful to collect
factual information from data on many variables. It was also revealed that Dahabshiil money
Transfer Company emphasized internal control system. Thus Dahabshiil Money Transfer
Company Does not the internal control system include specific audits of accounting.
Following the findings and conclusions of the study mentioned the following recommendations
The Dahabshiil money Transfer Company give emphasis to internal control system, nevertheless
still fraud can be there even if internal control system existed in the company, because week !CS
cannot prevent any. So the researcher recommended DMTC should strength its Control system.
It was also recommended that DMTC should use procedures for preparing financial statements
applied in every consolidated entity in their preparation of accounting entries, without these
procedures the company can face problems inside internal control system, because of the lack of
proper communications inside DMTC the !CS can't work efficiently. The fixed asset ofDMTC
the fixed valued Asset are safe but the cash is not, so the researcher recommended DMTC should
develop security towards its cash, to stop potential risks or potential misuse of the cash
Finally, the researcher recommended that DMTC should define and notify the risk management
responsibilities to the people concerned in the company, and because of that, the company's
internal control system can interrogate freely to those have responsibilities.
AHMED, B (2021). Internal Control System and Financial Performance of Money Transfer Companies in Uganda. A Case Study of Dahabshiil Money Transfer Kampala Road Branch. Afribary. Retrieved from https://afribary.com/works/internal-control-system-and-financial-performance-of-money-transfer-companies-in-uganda-a-case-study-of-dahabshiil-money-transfer-kampala-road-branch
AHMED, BASHIR "Internal Control System and Financial Performance of Money Transfer Companies in Uganda. A Case Study of Dahabshiil Money Transfer Kampala Road Branch" Afribary. Afribary, 11 Jun. 2021, https://afribary.com/works/internal-control-system-and-financial-performance-of-money-transfer-companies-in-uganda-a-case-study-of-dahabshiil-money-transfer-kampala-road-branch. Accessed 04 Aug. 2021.
AHMED, BASHIR . "Internal Control System and Financial Performance of Money Transfer Companies in Uganda. A Case Study of Dahabshiil Money Transfer Kampala Road Branch". Afribary, Afribary, 11 Jun. 2021. Web. 04 Aug. 2021. < https://afribary.com/works/internal-control-system-and-financial-performance-of-money-transfer-companies-in-uganda-a-case-study-of-dahabshiil-money-transfer-kampala-road-branch >.
AHMED, BASHIR . "Internal Control System and Financial Performance of Money Transfer Companies in Uganda. A Case Study of Dahabshiil Money Transfer Kampala Road Branch" Afribary (2021). Accessed August 04, 2021. https://afribary.com/works/internal-control-system-and-financial-performance-of-money-transfer-companies-in-uganda-a-case-study-of-dahabshiil-money-transfer-kampala-road-branch