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Assessment of the performance of audit Committee in enhancing accountability over use Of public fund: a case of ministry of industry and Trade

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Show simple item record Oloo, Fatuma E. 2016-03-15T19:16:45Z 2016-03-15T19:16:45Z 2013
dc.description A Dissertation Submitted to Mzumbe University in Partial/ Fulfillment of the Award of Master of Science in Accounting and Finance (MSc. A&F) of the Mzumbe University en_US
dc.description.abstract The Audit committee is responsible for the oversight of the quality and integrity of the organizations accounting and reporting practices, controls and financial statements, legal and regulatory compliance, the auditors’ qualifications and independence. The specific objectives of the study was to examine the members composition of audit committee of the Ministry of industry and trade, knowledge of members on financial matters and enhancing accountability on public funds, how the functions of the audit committee of the ministry being exercised to enhance accountability and the challenges facing audit committee in an organization. The categories of respondents were the senior members who are the heads of departments and audit committee members of the Ministry, senior staffs who are not audit committee members and the staffs of internal audit within the Ministry. Data collection methods included personal interviews, questionnaires, observations and documentary review. The data collected was analyzed statistically by using descriptive statistical method such as frequency tables and measures of average. The study revealed that the composition of the audit committee is good although the team lack independence on its operations. Also most of members of the team do not have sufficient knowledge on financial matters which weaken the performance of the committee. The committee also lacks enough institutional supports, sufficient budget and the updated audit committee charter. The study recommends several measures based on observed and analyzed findings from the study. These include the audit committee to be composed of executives from outside the ministry and non executive members, the committee should have an up dated audit committee charter, members should have enough knowledge on financial matters and the need to restructure audit committee, restate its roles, responsibilities and its mandatory to make it cope with current requirements and overcome number of prevailing challenges. Finally, the researcher recommends further research to be conducted on assessment to establish the role of audit committees on the public financial management among government ministries in Tanzania. en_US
dc.language.iso en en_US
dc.publisher Mzumbe University en_US
dc.subject audit Committee en_US
dc.title Assessment of the performance of audit Committee in enhancing accountability over use Of public fund: a case of ministry of industry and Trade en_US
dc.type Thesis en_US

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