MJAMR

Internal Control Audit Practices and Financial Performance in Organisations. Acase Study of Livercot Impex Ltd, Bweyogerere, Kampala

Nyakato Moureen, Dr Arinaitwe Julius


Abstract

The study focused on internal control audit practices and financial performance in Livercot Impex Ltd. In this study the internal control audit practices (measured by risk assessment, control environment and control activities attributes) was the independent variable and financial performance (measured by profitability, sales and service delivery attributes) was the dependent variable. The study used cross sectional design which enabled the researcher to draw the samples from the population over a short period of time. The study focused on the respondents from Livercot Impex Ltd. The researcher used stratified random sampling to select the respondents from all layers in the cluster. Primary data and secondary data collection methods were used. Quantitative methods were used to collect and analyze the data. The research findings shown by correlation analysis generally indicated that there was a significant positive relationship between internal control audit practices measures (risk assessment, control environment and control activities) and the financial performance measures (profitability, sales and service delivery). From the findings, there was a high and significant positive relationship between risk assessment and financial performance since, r =.661**; p =.000 < .01. This implied that a change in the risk assessment led to a change in financial performance in the same direction. Therefore, to enhance financial performance during internal control audit practices, the company needs to ensure that risk assessment is given maximum attention. The researcher therefore wishes to recommend to the company that risk assessment should be given consideration after control activities as evidenced by the r, p and Beta values in the correlation.

Keywords

internal control audit practices financial performance and organisations
Metropolitan Journal of Academic Multidisciplinary Research

Cite This Article

Nyakato Moureen & Dr Arinaitwe Julius (2023). Internal Control Audit Practices and Financial Performance in Organisations. Acase Study of Livercot Impex Ltd, Bweyogerere, Kampala. Metropolitan Journal of Academic Multidisciplinary Research, 2(10). https://journals.miu.ac.ug/pages/article.php?article_id=1044

More in This Issue

View full issue →
11
Commercial Farming and Social Economic Status of Rural Families. A Case of Kyabatana Village
Kagina James, Natukunda Charles
commercial farming social economic status and rural families
12
Corporate Social Responsibility and Development of Organizations in Uganda; a Case Study of Hima Cements, Kasese District.
Masika Joan, Akampurira Sarah, Dr Ariyo Gracious Kazaara
Corporate social responsibility organizational performance stakeholders
13
Cultural Norms and Socio-Economic Development Communities I N Uganda, a Case Study of Namanyonyi Sub County, Mbale District.
Mbodo Ismail, Akampurira Sarah, Kaziro Nicholas
cultural norms socio-economic development and communities
14
Digitization and Financial Performance of the Organisation. A Case Study of Uganda Microcredit Foundation, Busia Branch Busia District
Ndeda Washingtone, Irumba Alex, Asiimwe Isaac Kazaara
digitization financial performance and organisation
15
E-Commerce and Business Performance; a Case Study of Airtel Uganda
Kamanzi David, Irumba Alex
e-commerce and business performance