An evaluation of effectiveness of financial accounting information systems : the case of Kenyatta University
The study was aimed at evaluating the effectiveness of financial accounting information systems of public universities in Kenya with specific reference to Kenyatta University. Financial accounting information systems are pertinent in the financial management practices. Specifically the study was to investigate the procedures used for processing financial accounting information by Kenyatta University. The population of the study comprised of a sample of 29 finance staff of Kenyatta University. The study employed the case study method utilizing a proportional representative sample of 25 finance staff who were selected from each of the 11 sections of finance department of the University using random sampling. In addition 4 senior finance staff of the University were selected and interviewed. It is hoped that the findings of the study will be helpful to a number of stakeholders including finance staff, internal audit staff, and management of Kenyatta University, other public universities in Kenya, the Government of Kenya and in particular the Ministry of Education Science and Technology, the Commission for Higher Education, the Directorate of State Corporations, Donors and other Public institutions of higher learning to gain understanding of the role of accounting information systems. Data was collected through a questionnaire, observation and personal interview. The information gathered, were critically studied and analyzed by way of descriptive statistics of measures of central tendency (frequency) and comparatives. Data presentation was by way of tables, line graphs, and pie charts and bar charts. The study confirmed that lack of efficient financial accounting information systems was a factor among others that hinder the University's finance department from processing and preparing accurate financial statements in accordance to International Financial Reporting standards. The conclusion reached after the investigation and analysis was that Kenyatta University management requires to put in place efficient financial accounting information system and financial controls for better management of the University financial resources.