This study is aimed at assessing the impacts of internal control systems on financial management in an organization. Regression model and person’s linear correlation coefficients will be used in the analysis. The findings reveal the following: controlling environment significantly affects financial management in hotel continental Iganga, risk assessment has a significant effect on financial management in hotel continental Iganga, operational control activities have a significant relationship in control system and financial management in Hotel Continental Iganga. This research employed descriptive survey research design to describe financial management in Hotel Continental Iganga, additionally, findings indicates that an improvement in internal control system improves financial management in an organization and ineffective internal control system leads to poor financial management, the findings indicates a significant impact between monitoring & evaluation system and financial management in an organization, the research shows that effective controlling environment increases financial management in Hotel Continental Iganga, an improvement in risk assessment highly increases financial management in an organization, an improvement in operational control activities increases financial management in an organization, improvement in internal control system improves financial management in an organization and infective internal control system leads to poor financial management, and lastly, improving the monitoring &evaluation system increases financial management in an organization. The researcher recommended that; Hotel Continental Iganga, to make sure that both management and employees are assigned appropriate levels of authority and responsibility to facilitate effective internal control, Hotel Continental Iganga should put in place an effective information system to capture and process data in a meaningful way, the organization should make sure that human resource policies and practices are designed and implemented to facilitate effective internal control, the organization and to make sure that all financial information are recorded accurately and presented clearly. In this case therefore, this research work has brought a new knowledge if taken into account, the organization will move out from issues basing on internal control system basing on the weaknesses found in the operations that may result a negative effect on financial management in terms of managing scarce resources, financial control, accountability, transparency and internal controls in developing countries.