Internal Control System for Financial Management in the Church: A Case of Protestant Churches in Eldoret Municipality, Kenya (Published)
The study aims at evaluating the Internal Control System (ICS) which can be used for effective financial management in the Church. The objectives were to determine if ICS is in place, its role, challenges faced during implementation and its relationship with financial management among Protestant Churches in Eldoret Municipality. Using the descriptive statistics, 76.5% of the respondents confirmed that ICS was in place. However, only one type of internal control (control activities) existed in the Churches sampled which also plays a minimal role. ICS related challenges faced include lack of ICS knowledge, resistance to adapt ICS, shortage of staff to implement and Church’s management reluctance. This was shown by 76.5%, 52.9%, 52.9% and 58.8% respectively. In regards to ICS and financial management, majority of the respondents (76.5%) indicated their relationship to be positive. The researchers recommends more scholarly works to be done to make roles of ICS seen to crucial, how to address the challenges faced during development and implementation of ICS as well as how to make ICS an effective financial management technique.
Keywords: Corruption, Internal Control System, financial management
Effect of Competence, On Internal Audit Professionals Skepticism, Implications on Regional Head of Corruption Practices (Case Study District / City in West Java Province) (Published)
This study aims to determine the professional competence of the Internal Audit, Corruption. The purpose of audit professionals is basically one of the spearheads in the fight against corruption. Because was never brought positive result but the consequences of Evil is constantly generated. Harmful consequences , among others, Decreased Quality of Public Services, Damaged Joints-Joints Principles of Financial Management System of State, Government occurrence Puppet, Rising Social Inequality, loss of investor confidence. Occurrence of Moral Degradation and Work Ethics. Internal auditors assist management in designing and maintaining the adequacy and effectiveness of the internal control structure. The internal auditor is also responsible for assessing the adequacy and effectiveness of each control system which guarantees the quality and integrity of the financial reporting process.
Keywords: Competence, Corruption, Professional Internal Audit
EXAMINING CORPORATE GOVERNANCE PRACTICES IN NIGERIAN AND SOUTH AFRICAN FIRMS (Published)
This paper reviews the historical background of corporate governance and emerging issues in the development and practice of corporate governance in Nigerian and South African firms. The paper examines the role of institutional bodies on corporate governance of listed firms, regulatory and enforcement, and institutional bodies of corporate governance in Nigeria and South Africa. Other issues also examined include role and responsibilities of corporate board and external factors that affect corporate governance such as politics, corruption, economic, and ownership structure of listed firms. We find that institutional shareholders are more active in South Africa than in Nigeria, also shareholders association in South Africa are not active compared with that of Nigeria. In addition, South Africa have a stronger institutional framework than Nigeria, this really provide an evidence to show that enforcement of corporate governance practices in South Africa seem to be better than Nigeria. Generally, we find that corruption and bribery, politics, economic and ownership structure influence effective corporate governance practice in each country
Keywords: Corporate Governance, Corruption, Economics and Ownership structure, Institutional frameworks, Politics
WHISTLEBLOWER REWARD AND SYSTEMS IMPLEMENTATION EFFECTS ON WHISTLEBLOWING IN ORGANISATIONS (Published)
Whistleblowing has become a major concern globally following tremendous organisational misconduct that had befallen huge organisations and has ultimately led to the collapse of some organisations, with its trickling down effects translating into global economic meltdown. Several countries have adopted and signed up to whistleblower acts including Ghana as a way of addressing this challenge of corruption and fraud, for which some organisations have implemented whistleblowing systems and provided reward systems to encourage whistleblowing. The study employs fisher’s exact test to analyse the effect of whistleblowing implementation systems in organisations in Ghana and its associated reward systems effects on whistleblowing. It observes that, these have not been as effective as desired, particularly as whistleblowing implemented systems have minimal or no effect and reward systems intended to motivate whistleblowing fails to motivate its essence such that, the presence of these systems have not impacted on organisational productivity
Keywords: Corruption, Fraud, Punitive, Reported Misconduct, Reward systems, Sufficiency of whistleblowing implementation systems, Whistleblower, Whistleblowing
Whistleblower Reward and Systems Implementation Effects on Whistleblowing in Organisations (Review Completed - Accepted)
Whistleblowing has become a major concern globally following tremendous organisational misconduct that had befallen huge organisations and has ultimately led to the collapse of some organisations, with its trickling down effects translating into global economic meltdown. Several countries have adopted and signed up to whistleblower acts including Ghana as a way of addressing this challenge of corruption and fraud, for which some organisations have implemented whistleblowing systems and provided reward systems to encourage whistleblowing. The study employs fisher’s exact test to analyse the effect of whistleblowing implementation systems in organisations in Ghana and its associated reward systems effects on whistleblowing. It observes that, these have not been as effective as desired, particularly as whistleblowing implemented systems have minimal or no effect and reward systems intended to motivate whistleblowing fails to motivate its essence such that, the presence of these systems have not impacted on organisational productivity.
Keywords: Corruption, Fraud, Punitive, Reported Misconduct, Reward systems, Sufficiency of whistleblowing implementation systems, Whistleblower, Whistleblowing