Journal
Metropolitan Journal of Academic Multidisciplinary Research
MJAMR
The Effect of Auditing Practices on Financial Performance of Commercial Banks in Uganda: A Case Study of Centenary Bank Bwaise Branch
Nalubwama Salima, Irumba Alex, Dr Ariyo Gracious Kazaara, Prof Nafiu Lukman Abiodun
| Journal | Metropolitan Journal of Academic Multidisciplinary Research (MJAMR) |
| Volume / Issue | Vol. 2, No. 9 |
| Published | 30 September 2023 |
| ISSN | 3006-4384 |
Abstract
The study was set to examine the effect of auditing practices on financial performance of commercial banks in Uganda. The objectives, to investigate the relationship between risk management and financial performance of centenary bank, to determine the relationship between control activities and financial performance of centenary bank, to assess the relationship between monitoring activities and financial performance of centenary bank and to determine the relationship between auditing and financial performance of centenary bank. The study was conducted using statistical research design of correlation and regression. This design was selected because the researcher intended to establish facts that already existed as opposed to research. The data was collected from the respondents using the questionnaires from 35 respondents of the bank. The study concludes that risk management has a significant role on the financial performance of centenary bank, the study on the second objective concludes that although control activities have impacted positively, there is still high degree of fraud and errors that has hindered effective operation of the bank. The third objective conclude that monitoring activities has a significant role on financial performance of the bank, The fourth objective conclude that auditing has an effect on financial performance of centenary bank, enhancing the communication within the organization, increase effectiveness in credit control, improve marketing activities of the organization and detection of failure for redress in the organization. The study recommends that the management of commercial banks should keep organizing seminars and workshops where auditors must have sufficient proficiency and training to carry out the tasks assigned to them. The auditors work must be carefully directed, supervised and reviewed. The amount of supervision required corresponds to the experience and skills of the auditor.
Keywords
auditing practices
financial performance and
Cite This Article
Nalubwama Salima, Irumba Alex, Dr Ariyo Gracious Kazaara & Prof Nafiu Lukman Abiodun (2023). The Effect of Auditing Practices on Financial Performance of Commercial Banks in Uganda: A Case Study of Centenary Bank Bwaise Branch. Metropolitan Journal of Academic Multidisciplinary Research, 2(9). https://journals.miu.ac.ug/pages/article.php?article_id=1579
More in This Issue
View full issue →
1
A Study on the Impact of Audit Practices on Managing Fraud in Organizations, a Case Study of Top Rank Consults, Kampala
audit practices
management
fraud and organizations
2
An Assessment of the Impact of Staff Appraisal Systems on Workforce Productivity in Organizations; a Case Study of World Vision, Nakasongola District.
staff appraisal systems
workforce productivity and organizations
3
Analyzing the Role of Electronic Procurement on Organisational Service Delivery. A Case Study of Century Bottling Company
electronic procurement
organisations and service delivery
4
Assess the Role of Cooperative Societies on Women’s Economic Empowerment. Acase Study of Aulogo Cooperative Savings and Credit Society
cooperative societies
Sacco’s and women’s economic empowerment
5
Assessing the Effect of Credit Risk Management on the Performance of Financial Institutions in Uganda, a Case Study of Pride Microfinance, Nankulabye Branch
credit risk management
performance and financial institutions