The Effect of Internal Audit On the Financial Performance of an Organisation A Case Study of Kampala City Council Headquarters

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TABLE OF CONTENTS

DECLARATION ............................................................................................................................... i

APPROVAL ..................................................................................................................................... .ii

DEDICATION ................................................................................................................................ iii

ACKNOWLEDGEMENT ............................................................................................................. .iv

TABLE OF CONTENTS ................................................................................................................. v

LIST OF TABLES AND FIGURES ............................................................................................. vii

ABSTRACT .................................................................................................................................. viii

ABBREVIATIONS .......................................................................................................................... ix

CHAPTER ONE ............................................................................................................................... l

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

1.1 Background of the Study ...................................................................................................... 1

1.2 Statement of the Problem ..................................................................................................... 3

1.3 Purpose of the Study ............................................................................................................. 3

1.4 Objectives ............................................................................................................................... 3

1.5 Research Questions ............................................................................................................... 4

1.6 Area and Scope of the Study .................................................................................................. 4

1.6.1 Geographical scope ................................................................................................................. 4

1.6.2 Conceptual scope .................................................................................................................... 4

1.6.3 Time Scope .............................................................................................................................. 4

1.7 Significance of the Study ........................................................................................................ 4

1.8 Definition ofTerms ................................................................................................................. 6

1.9 Internal Audit and Financial Performance; Conceptual framework ............................... 7

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

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

2.0 Introduction .......................................................................................................................... 8

2.1 Internal Audit ....................................................................................................................... 8

2.1.1 The meaning of Internal Audit ............................................................................................ 8

2.1.2 Independence of the Auditor ............................................................................................ 11

2.1.3 Integrity of an Auditor ...................................................................................................... 12

2.1.4 Objectivity of an Auditor .................................................................................................. 13

2.1.S Technical Competence of an Auditor ............................................................................... 14

2.1.6 Professional Proficiency .................................................................................................... 15

2.2 Financial performance ...................................................................................................... 15

2.2.1 The meaning of Financial Performance .......................................................................... 15

2.2.2 Profitability ........................................................................................................................ 16

2.2.3 Capital Growth .................................................................................................................. 17

2.2.4 Customer Satisfaction ....................................................................................................... 18

2.2.S Employment ....................................................................................................................... 18

2.3 Performance Indicators Used by Internal Auditors ....................................................... 19

2.3.1 Relationship between the Internal Audit and Financial Performance ......................... 20

V

CHAPTER THREE ........................................................................................................................ 21

RESEARCH METHODOLOGY .................................................................................................. 21

3.0 Introduction .......................................................................................................................... 21

3.1 Research Design .................................................................................................................... 21

3.2 Study Population .................................................................................................................. 21

3.3 Sample Size and Methods of Sampling .............................................................................. .21

3.4 Sources of Data ..................................................................................................................... 22

3.5 Data collection instruments ................................................................................................ 22

3.6 Data Processing Analysis .................................................................................................... 23

3.7 Methods of data presentation ............................................................................................. 23

CHAPTER FOUR .......................................................................................................................... 25

PRESENTATION, ANALYSIS, AND DISCUSSION OF FINDINGS ..................................... 25

4.0 Introduction .......................................................................................................................... 25

4.1 General findings .................................................................................................................... 26

4.2 Structure of Internal Audit. ................................................................................................. 29

4.3 Staffing of Internal Audit Department ............................................................................... 31

4.4 Checks by internal audit staff to department in 2007/2008 ............................................ 32

4.5 Findings on Management Reliance on Audit Reports ...................................................... 33

4.6 Financial Performance/ Management ............................................................................... 33

4. 7 Relationship between Frequency of Audit Checks and Performance of Kampala City

Council for the Year 2007 /2008 ......................................................................................... 34

4.11 Relationship between Internal Audit and Effective Accountability of Funds by

Kampala City Council for 2007/2008 ............................................................................... 35

CHAPTER FIVE ............................................................................................................................ 36

SUMMARY, CONCLUSION AND RECOMMENDATIONS .................................................. 36

5.0 Introduction ........................................................................................................................ 36

5.1 Summary .............................................................................................................................. 36

5.2 Conclusion ............................................................................................................................ 36

5.3 Recommendations ................................................................................................................ 37

REFERENCES ............................................................................................................................... 39

QUESTIONNAIRES ...................................................................................................................... 41  

ABSTRACT Chapter 1 represents the background of the study i.e. for the topic and the case study, it also states the problem of the study and its objectives plus the purpose. It also presents the research questions, area and scope of the study and its significance to KCC. This particular research was analytical in nature were the researcher was more interested in answering questions like how? When, what and why therefore it helped the researcher identify the effects of internal audit on KCC's financial performance Chapter 2 represents the Literature review, i.e. Literature on internal audit and financial performance and the understanding of different scholars or authors on such variables. Chapter 3 represents the research methodology, It compnses of the research design, the study population Sample size and method, sources of data collection instruments and methods of data presentation .. The research was descriptive in nature where by interviews and questionnaires were used during data collection. It involved a direct interaction with the respondents where descriptive and detailed information was collected. Chapter 4 gives out the findings of research in reference to the research questions Presentation of the iata was done through tabulation and graphs for easy understanding of the information. fhe last chapter that is 5 presents and summarize data in amore precise way . And also provides the ·ecommendations and conclusions of the study .The researcher therefore hopes that at the completion of his research, it would improve the financial performance KCC.

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APA

Frontiers, E. & FLORENCE, N (2022). The Effect of Internal Audit On the Financial Performance of an Organisation A Case Study of Kampala City Council Headquarters. Afribary. Retrieved from https://afribary.com/works/the-effect-of-internal-audit-on-the-financial-performance-of-an-organisation-a-case-study-of-kampala-city-council-headquarters

MLA 8th

Frontiers, Edu, and NAMUTEBI FLORENCE "The Effect of Internal Audit On the Financial Performance of an Organisation A Case Study of Kampala City Council Headquarters" Afribary. Afribary, 19 Aug. 2022, https://afribary.com/works/the-effect-of-internal-audit-on-the-financial-performance-of-an-organisation-a-case-study-of-kampala-city-council-headquarters. Accessed 24 Sep. 2022.

MLA7

Frontiers, Edu, and NAMUTEBI FLORENCE . "The Effect of Internal Audit On the Financial Performance of an Organisation A Case Study of Kampala City Council Headquarters". Afribary, Afribary, 19 Aug. 2022. Web. 24 Sep. 2022. < https://afribary.com/works/the-effect-of-internal-audit-on-the-financial-performance-of-an-organisation-a-case-study-of-kampala-city-council-headquarters >.

Chicago

Frontiers, Edu and FLORENCE, NAMUTEBI . "The Effect of Internal Audit On the Financial Performance of an Organisation A Case Study of Kampala City Council Headquarters" Afribary (2022). Accessed September 24, 2022. https://afribary.com/works/the-effect-of-internal-audit-on-the-financial-performance-of-an-organisation-a-case-study-of-kampala-city-council-headquarters