|
|
| |
| Internal Controls and Financial Performance of Saccos in Wakiso District
Download PDF
|
Irumba Alex, Dr Ariyo Gracious Kazaara
|
Abstract:
In this study, the relationship between internal controls and the financial performance of SACCOs in the Wakiso district was investigated. It was directed by the specific goals of evaluating the connection between the control setting and financial performance, risk evaluation and financial performance, regulate activities and financial achievement, tracking operations and financial achievement, communication and knowledge and financial performance, as well as evaluating the combined relationship between internal controls and financial results of SACCOs in the Wakiso district. The investigation employed a cross-sectional research methodology, and SPSS version 25 was used to tabulate quantitative data in order to better comprehend and analyze the relationship between the study variables. The study successfully collected data from 210 out of the 226 respondents in the sample, yielding a response rate of 92.9%. Together with the statistical analysis of correlation and regression analysis, principal component analysis was also used in the study. Also, the validity and reliability of the questionnaire instrument were evaluated to guarantee that the study variables returned the minimal acceptable benchmark of 0.7, as recommended by Cronbach's alpha (1951). According to the results, there is a significant and favorable correlation between the regulate environment and financial achievement, risk evaluation and financial results, control operations and financial performance, monitoring activities and financial achievement, as well as communication and knowledge sharing and financial results among SACCOs. Additionally, it was discovered that of the five factors that affect financial performance, the checks and balances have a higher predictive power (as shown in Table 4.8 for regression) for the variations in financial results than the other four internal management aspects of risk analysis, control environment, monitoring activities, plus communication and information.
|
|
|
| | |