EFFECT OF INTERNAL CONTROL SYSTEMS ON FINANCIAL PERFORMANCE OF PUBLIC INSTITUTIONS OF HIGHER LEARNING IN SIERRA LEONE /
Allieu, Mohamed
EFFECT OF INTERNAL CONTROL SYSTEMS ON FINANCIAL PERFORMANCE OF PUBLIC INSTITUTIONS OF HIGHER LEARNING IN SIERRA LEONE / MOHAMED ALLIEU; SUPERVISOR: ASST. PROF. DR. KEMAL ÇEK - ix, 85 sheets: charts, tables; 30 cm. 1 CD ROM
Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Accounting and Finance Department
Includes References (sheets 68-74)
ABSTRACT
Government agencies sometimes perform poorly financially. Financial mismanagement may have brought poor results. Finances require internal controls. This study assessed how well Sierra Leonean government institutions and colleges managed finances after introducing internal controls. Evaluation of control operations, risk analysis, environmental control, information and communication, and monitoring at Sierra Leonean universities affect financial performance. Four theories—agency, management, affirmative accounting, and attribution—supported the research. Descriptive study. 150 Sierra Leonean academics were questioned. There were 96 researchers. This research used questionnaires on a representative sample. Multiple linear regression examined independent variables and determination coefficients. Data were analyzed using SPSS. Frequent internal audit reports, a suitable separation of responsibility in the finance and accounting divisions, and physical measures to reduce resource overallocation were used in the analyzed businesses. Control initiatives improved financial performance for examined organizations. This research examined organizations with a successful risk assessment instrument, risk analysis management structure, continuing financial evaluations, and timely, in-depth audits. Risk
assessment statistically enhanced financial performance. Sierra Leone's public
universities have good environmental controls. Finance and audit have enough people
and accounting and financial management training. Environmental control significantly enhanced the firms' financial success. The data exchanging and receiving systems were good. Modern communication and record-keeping systems help businesses share information, track finances, and account for resources. Research indicated that open communication and information improved organizations' financial accountability and performance. Independent auditing departments tracked budgets. Management meetings discussed finances and promoted responsibility and openness. Financial monitoring boosted performance. Financial audits detect accounting and financial issues.
Keywords: Financial Performance; Higher Learning; Internal Control Systems; Public Institutions.
Accounting and Finance--Dissertations, Academic
EFFECT OF INTERNAL CONTROL SYSTEMS ON FINANCIAL PERFORMANCE OF PUBLIC INSTITUTIONS OF HIGHER LEARNING IN SIERRA LEONE / MOHAMED ALLIEU; SUPERVISOR: ASST. PROF. DR. KEMAL ÇEK - ix, 85 sheets: charts, tables; 30 cm. 1 CD ROM
Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Accounting and Finance Department
Includes References (sheets 68-74)
ABSTRACT
Government agencies sometimes perform poorly financially. Financial mismanagement may have brought poor results. Finances require internal controls. This study assessed how well Sierra Leonean government institutions and colleges managed finances after introducing internal controls. Evaluation of control operations, risk analysis, environmental control, information and communication, and monitoring at Sierra Leonean universities affect financial performance. Four theories—agency, management, affirmative accounting, and attribution—supported the research. Descriptive study. 150 Sierra Leonean academics were questioned. There were 96 researchers. This research used questionnaires on a representative sample. Multiple linear regression examined independent variables and determination coefficients. Data were analyzed using SPSS. Frequent internal audit reports, a suitable separation of responsibility in the finance and accounting divisions, and physical measures to reduce resource overallocation were used in the analyzed businesses. Control initiatives improved financial performance for examined organizations. This research examined organizations with a successful risk assessment instrument, risk analysis management structure, continuing financial evaluations, and timely, in-depth audits. Risk
assessment statistically enhanced financial performance. Sierra Leone's public
universities have good environmental controls. Finance and audit have enough people
and accounting and financial management training. Environmental control significantly enhanced the firms' financial success. The data exchanging and receiving systems were good. Modern communication and record-keeping systems help businesses share information, track finances, and account for resources. Research indicated that open communication and information improved organizations' financial accountability and performance. Independent auditing departments tracked budgets. Management meetings discussed finances and promoted responsibility and openness. Financial monitoring boosted performance. Financial audits detect accounting and financial issues.
Keywords: Financial Performance; Higher Learning; Internal Control Systems; Public Institutions.
Accounting and Finance--Dissertations, Academic