Dissertations (Masters)-A&F.-SOB

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    The performance of internal audit in managing organisation risk: A case study of Azania Bank Limited (head office)
    (Mzumbe Universitry, 2013) Baltazari, Upendo
    The purpose of this study was to examine the functions/roles of internal audit in assisting management in managing risk in organizations/institutions. Azania Bank Ltd was taken as a case study. The objectives of the study was to Identifying the functions and scope of internal audit in the company, Identifying the risks that Azania Bank Ltd face and how it affects their performance Identifying the role of internal audit in assisting management in managing risk at the Azania Bank Ltd and Examining strengths and weaknesses of internal audit in assisting management in managing risk in Azania Bank Ltd for provision of better services to the customers as a way of improving its performance. The study uses case study design and 50 was the sample and sampling technique include stratified sampling in which respondent are arranged in groups, data collection tools include interview, questionnaire, documentary review and physical observation The main findings of the study was Internal Audit Units in the selected areas lack autonomy mainly attributable to inadequate funding, involvement of Internal Auditors in non- audit work, inadequacy of staff training, Audit programs are prepared according to the set standards issued inadequate management support, internal audit staffs adhere to the ethical standards, Staff awareness of risk and management response to recommendations of the Internal Auditors report is very minimal. Researchers Recommends that Audit should be risk based audit, Identified risk before it occurs, Provision of risk education, Frequency inspection, Strong internal controls, Auditor’s independence and to increase numbers of staffs
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    The effect of financial management systems on local government performance: The case of Namtumbo District council
    (Mzumbe University, 2013) Ndunguru, Nicholaus S.
    The financial management in the Local government can be improved by the development of an integral accrual accounting system to enable the preparation of accrual-based budgets, financial statements and performance reports to meet the needs of the various stakeholders. Traditionally the management of government expenditures has been focused on a system of expenditure control, which is based to ensure that budgetary authority granted by the legislature is not exceeded. The cash basis of accounting does not measure the resources consumed during the period under review, thus the true costs of government programmes and projects are not correctly measured, controlled or reported. In the absence of accurate cost information, performance measures of efficiency and cost-effectiveness cannot readily be determined. The establishment of International Public Sector Accounting Standards (IPSAS), these standards introduce the accrual basis of accounting and is a significant step towards transparent and accountable information. The study was specifically designed to achieve the following specific objectives:- i) To determine whether a budget system links with strategic outcomes ii) To determine whether a performance reporting framework is on cash basis or accruals basis? iii) To determine whether there is a sound internal control system in the council iv) Determine whether the internal Audit functions properly and does its work independently. Key findings of the study The financially successful and efficient Local Government is headed by competent management and makes use of effective budgetary control. Effective budgetary control is based on operating budgets that are closely linked with long-term strategic plans and desired outcomes. The operating budgets are then compared with actual results, on an accruals basis, in order to measure performance and efficiency. It is clear from the above that three basics exist for financial management performance measurement, namely: (i) committed and competent head of department; (ii) outcomes-based budgeting; and (iii) Accruals-based reporting. A Financial performance measurement framework that uses the balanced scorecard as a base are developed for Local governments and incorporates (i) the implementation of an outcomes-based budget; (ii) the use of an accruals-based cost/revenue allocation to measure the costs of the various outputs; and (iii) a performance statement. Committed and competent head of department is the first condition for financial performance measurement. The responsibilities and training needs of the Executive Authority and Head of department are clearly defined and the training needs of Local government officials are highlighted. Outcomes-based budgeting is the second condition for financial performance measurement. The Management in Local governments should take cognizance of the shortcomings of the current budgeting process and consider the implementation of activity-based budgeting. Reporting on an accruals basis is the third condition for financial performance reporting. Internal reporting in Local government departments should be revitalized and the activity-based costing should be implemented to facilitate accruals-based cost allocations to all the various activities and processes that are required for each output. Finally, the study recommends an audit committee and finance committee should basically discuss various issues concerned with council financial performance and financial statements of Local government departments.