Internal Control System And Financial Performance Of Urban Saccos In Kampala: A Case Study Of Nakasero Iv Urban Sacco, Luwum Street, Kampala Central Division

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ABSTRACT

The study sought to examine the effect of internal control system on inancial petforinence of

manufacturing companies in Kampala: A case study ofNakasero IV Urban Sacco. The study

objectives were; to ascertain the relationship between Control Environment and financial

performance ofNakasero IV Urban Sacco, to determine the relationshz~ between internal audit

and financial perfbrmance of Nakasero IV Urban Sacco and to assess the relationship of

control activities and financial performance of Nakasero IV Urban Sacco. The study used

correlational research design. The qualitative approach was used to collect and analyze data

on the study topic. This design was used because it brought out clearly the relationship between

the two variables. The study was spec~fical~v non-experimental because the researcher wanted

to describe and make observations qf what the real results would be for purposes of making

decisions based on the facts to improve the situation. The target population was 105 and it

comprises ofstaffofNakasero IV Urban Sacco drawnfrom dijfrrent departments ofaccounting

and finance (‘I5~), internal audit (‘J0~), human resource (9~, procurement and logistic (10) and

field officers (50) and directors (11), The rational was that all the above were stakeholders.

The sample size of the study consists of 98 of target population and was determined through

purposive and random sampling methods. Data was collected from primary and secondary

sources using questionnaires and interviews. After collecting data, the researcher organized

well-answered questionnaire, data was edited and sorted for the next stage. The data was

presented in tabularform, pie charts and bar graphs with frequencies and percentages. The

study found out that there is a weak relationship between control activities and financial

peifbrmance at Nakasero IV Urban Sacco, Kampala ~‘r(~98) =0.384, p<0. 05~). This is evidenced by a Pearson correlation of 0.384 which indicates a weak relationship between control activities and financial performance. The study concludes that management ofNakasero IV

Urban Sacco should ensure that there are adequate organizational controls and that each staff knows his duties and equally ensures effective segregation of duties. The study recommends that the internal control system should be remolded and strengthened to position the staff in carrying out their duties efficiently and effectively and at the same time evaluated periodically to strengthen its weaknesses in the organization.

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APA

SSA, R (2021). Internal Control System And Financial Performance Of Urban Saccos In Kampala: A Case Study Of Nakasero Iv Urban Sacco, Luwum Street, Kampala Central Division. Afribary.com: Retrieved June 14, 2021, from https://afribary.com/works/internal-control-system-and-financial-performance-of-urban-saccos-in-kampala-a-case-study-of-nakasero-iv-urban-sacco-luwum-street-kampala-central-division

MLA 8th

Research, SSA. "Internal Control System And Financial Performance Of Urban Saccos In Kampala: A Case Study Of Nakasero Iv Urban Sacco, Luwum Street, Kampala Central Division" Afribary.com. Afribary.com, 03 Jun. 2021, https://afribary.com/works/internal-control-system-and-financial-performance-of-urban-saccos-in-kampala-a-case-study-of-nakasero-iv-urban-sacco-luwum-street-kampala-central-division . Accessed 14 Jun. 2021.

MLA7

Research, SSA. "Internal Control System And Financial Performance Of Urban Saccos In Kampala: A Case Study Of Nakasero Iv Urban Sacco, Luwum Street, Kampala Central Division". Afribary.com, Afribary.com, 03 Jun. 2021. Web. 14 Jun. 2021. < https://afribary.com/works/internal-control-system-and-financial-performance-of-urban-saccos-in-kampala-a-case-study-of-nakasero-iv-urban-sacco-luwum-street-kampala-central-division >.

Chicago

Research, SSA. "Internal Control System And Financial Performance Of Urban Saccos In Kampala: A Case Study Of Nakasero Iv Urban Sacco, Luwum Street, Kampala Central Division" Afribary.com (2021). Accessed June 14, 2021. https://afribary.com/works/internal-control-system-and-financial-performance-of-urban-saccos-in-kampala-a-case-study-of-nakasero-iv-urban-sacco-luwum-street-kampala-central-division