TABLE OF CONTENTS
DECLARATION ................................................................................................ i
APPROVAL ...................................................................................................... ii
DEDICATIOJ\T ................................................................................................. iii
ACKNOWLEDGEMENTS ................................................................................ .iv
ABSTRACT ................................................................................................................................ viii
JST OF TABLES ...................................................................................................................... ix
LIST OF FIGURES ...................................................................................................................... x
CHAPTER ONE ............................................................................................... 1
INTRODUCTION .................................................................................................................. 1
.1 BACKGROUND TO THE STUDY .................................................................................... 2
.. 2 Statement of the problem ................................................................................................ 4
.3 Purpose of the study ......................................................................................................... 4
.4 Specific Objectives .............................................................................................................. 4
.5 Research questions ............................................................................................................ 5
.6 Scope ...................................................................................................................................... 5
Geographical ................................................................................................................................ 5
Content scope .............................................................................................................................. 5
Time scope .................................................................................................................................... 5
. 7 Significance .......................................................................................................................... 6
.8 Hypotheses ........................................................................................................................... 6
.9 conceptual frame work ..................................................................................................... 7
CHAPTER TWO .............................................................................................. 8
REVIEW OF RELATED LITERATURE ............................................................... 8
2.0 INTRODUCTION .................................................................................................................. 8
2.1 Effectiveness of Internal controls in the management of cash ........................... 8
2.2 Risks arising due to non strict observance of the internal controls in cash
management .............................................................................................................................. 14
V
!.2.1 Typical Deficiencies in Internal Control Structure Design ............................. 14
\.2.2 Typical Deficiencies in Internal Control Structure ............................................ 15
\.2.3 Other Deficiencies ........................................................................................................ 15
!.3 Changes that may be made to the available internal controls as regards
cash management .................................................................................................................... 16
CHAPTER THREE ........................................................................................ 1 7
RESEARCH METHODOLOGY ...................................................................................... 17
~. 1 Research Design ............................................................................................................... 17
L 2 Research Population or Target population ............................................................. .17
~.3 Sampling Design ............................................................................................................... 18
~.3.1 Sample Size .................................................................................................................... 18
~.3.2 Sampling Techniques .................................................................................................. 19
~. 4 Data Collection Methods ................................................................................................. 19
~.4.1 Survey Questionnaires ................................................................................................ 19
~.4.2 Observation .................................................................................................................... 19
~.4.3 In-depth interviews ...................................................................................................... 19
~.5 Data Quality Control ....................................................................................................... 20
) . 6 Ethical Considerations ................................................................................................... 20
).7 Data Processing and Analysis ...................................................................................... 20
).8 Limitations of the Study ................................................................................................. 20
CHAPTER FOUR ........................................................................................... 22
1-.0 PRESENTATION, INTERPRETATION AND DISCUSSION OF ............................ .22
. FINDINGS ................................................................................................................................... 22
+. l Introduction ....................................................................................................................... 22
+.2 General characteristics of respondents ................................................................... .22
+.2.2: Education level of respondents .............................................................................. .23
+.3 Effectiveness of internal controls and financial management. ......................... 25
Vl
CHAPTER FIVE ...................................................................................... 35
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS ........... 35
>.0 Introduction ....................................................................................................................... 35
>. l Summary of Findings ...................................................................................................... 35
>.1.1 Effectiveness of internal controls in financial management .......................... 35
>.1.2 Risks that might arise due to non strict observance of the internal
:controls in financial management.. .................................................................................... 35
,.2 Conclusion .......................................................................................................................... 36
>.3 Recommendations ............................................................................................................ 36
APPENDIX 1 ................................................................................................. 39
APPENDIX 11 ............................................................................................... 44
APPENDIX 111 .............................................................................................. 45
ABSTRACT
The study looked at the effectiveness of internal controls in the management of finance at Mukwano group of companies. t was guided by the following objectives; to establish the effectiveness of 1.Internal controls in mukwano company in the manage1nent of finance, to find out whether there is a likelihood of a risk arising due to non strict observance f the internal controls in financial management, and to find out whether there 1.ay be certain changes that may be made to the available internal controls as regards financial management. The study used both questionnaires and key 1. Interview guide to collect data. The study established that Much as most internal controls are not very effective in mukwano group of companies, they all exist; meaning that rrukwano group of companies has internal controls and procedures for the handling of finance. The only problem is the degree to which these procedures .re handled. t further established that many risks are likely to arise due to non-strict 1bservance of internal controls in finance management and they include; cash to meet depositors' demands will be lacking, misappropriation of cash by falsifying records of subsequent transactions will happen and cash in vaults if wt well recorded can disappear. The study concluded that effective internal control system in financial management plays a vital role in ensuring that the livelihood of finances disappearing and the correctness in its handling becomes improved. Despite his importance, some internal controls are still being neglected in mukwano : group of companies and as such inefficiencies in financial management are current.
THADDEO, O (2022). Internal Controls and Financial Management in Mukwano Group of Companies Limited. Afribary. Retrieved from https://afribary.com/works/internal-controls-and-financial-management-in-mukwano-group-of-companies-limited
THADDEO, ODONG "Internal Controls and Financial Management in Mukwano Group of Companies Limited" Afribary. Afribary, 16 Jul. 2022, https://afribary.com/works/internal-controls-and-financial-management-in-mukwano-group-of-companies-limited. Accessed 06 May. 2024.
THADDEO, ODONG . "Internal Controls and Financial Management in Mukwano Group of Companies Limited". Afribary, Afribary, 16 Jul. 2022. Web. 06 May. 2024. < https://afribary.com/works/internal-controls-and-financial-management-in-mukwano-group-of-companies-limited >.
THADDEO, ODONG . "Internal Controls and Financial Management in Mukwano Group of Companies Limited" Afribary (2022). Accessed May 06, 2024. https://afribary.com/works/internal-controls-and-financial-management-in-mukwano-group-of-companies-limited