Assessment of financial control practices in Nadowli-Kaleo district assembly

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Date
2021
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KNUST
Abstract
Public Sector Organizations are not countries but they have a sort of constitutions in the form of internal regulations and controls to adhere to in order to ensure judicious use of their resources towards sustainable growth and development. This study examined the financial control practices in Nadowli-Kaleo District Assembly. Descriptive research strategy was employed by the researcher. The sample for the study was made up of 99 respondents, believed to provide the needed information for the study. Findings of the study revealed that the control environment of the internal control system is sound enough for effective governance and management functions, for communication and enforcement of integrity and ethical values, and for easy identification of potential risks by management and deciding upon appropriate corrective actions. The study also revealed the existence of effective information and accounting system in the NKDA that is good enough for good financial reporting objectives, effective performance review, information processing, physical controls and segregation of duties. It could therefore be concluded that the internal control system at the NKDA is considerably effective for efficient managerial function. It is, however, recommended that management of NKDA, through the Human Resource Unit, should organize training for all staff and Assembly Members of the NKDA for all to appreciate the need for internal control measures to ensure the NKDA finances are reported accurately.
Description
A thesis submitted to the department of accounting and finance college of humanities and social science in partial fulfillment for the award of master of science in accounting and finance
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