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Washingtone et al
By Washingtone OG; Adoyo P; Mule RK (2021).
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Greener Journal of Economics and Accountancy Vol. 9(1), pp. 26-34, 2021 ISSN: 2354-2357 Copyright ©2021, the copyright of this article is retained by the author(s)
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Effect of internal controls on the financial performance of deposit taking SACCOs in Kenya.
*Oduor George Washingtone; Philip Adoyo; Robert Kisavi Mule
Maseno University.
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ARTICLE INFO |
ABSTRACT |
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Article No.: 121321154 Type: Research |
The study sought to establish the effect of internal controls on the financial performance of SACCOs in western Kenya. The study was anchored on Economic Value Added and Agency theories. Primary and secondary data was collected and analyzed using correlational research design. Purposive sampling was used to select 120 respondents from a target population of 40 Deposit Taking SACCO’s top management registered by SASRA. The study employed a Census survey technique with a response rate at 93%. Pre-validated questionnaires had a reliability alpha α = 0.903 internal controls and α = 0.873 financial performance internal consistency. Results revealed
= .603, p = .000 indicating that internal controls accounted for 60.3% change in financial performance and has a strong significant contribution to financial performance. The study recommends that SACCOs should prioritize the implementation of internal control systems and improve the audit committees with focus on independence and expertise. |
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Accepted: 20/12/2021 Published: 31/12/2021 |
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*Corresponding Author Oduor George Washingtone E-mail: sirgeorge200@ yahoo.com |
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Keywords: internal controls, financial performance . |
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Return to Content View: [Full Article - PDF] |
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Cite this Article: Washingtone OG; Adoyo P; Mule RK (2021). Effect of internal controls on the financial performance of deposit taking SACCOs in Kenya. Greener Journal of Economics and Accountancy, 9(1):26-34, |
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