Browsing by Author "Esiokhunjila, Duncan Nganyi"

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    Audit Committees and Public Financial Management in Coastal Counties of Kenya
    (African Journal of Commercial Studies, 2025-09) Esiokhunjila, Duncan Nganyi; Waweru, Fredrick
    The enactment of the 2010 Constitution in Kenya implemented a decentralized form of governance to promote equitable development across both levels of government. This framework introduced mechanisms for equitable resource allocation between the national government and the 47 devolved units. However, the Controller of Budget (COB) reported persistent issues in financial management and misuse of public funds within these decentralized entities. This study investigated the function played by audit committees in enhancing management of public finances in coastal counties of Kenya, with specific focus on composition of audit committees. This research was grounded on institutional theory. The study employed a descriptive research design with a targeted group of 144 individuals and 40 respondents. Standardized and self-administered questionnaires were employed to gather data. SPSS version 28 was employed for analysis of data. Inferential techniques and descriptive statistics, including Pearson correlation and regression analysis, were employed. Audit committee composition was found to affect public financial management positively, with diverse professional expertise enhancing decision-making. Gender diversity, though recognized, was less emphasized, pointing to the need for more inclusive representation. The study revealed that audit committees play a pivotal role in strengthening management of public finances by ensuring oversight autonomy. It recommended that county governments put in place measures to promote diversity in audit committee composition. County governments should ensure that audit committees include members with expertise in finance, accounting, risk management, and legal affairs.
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    Audit Committees and Public Financial Management in Coastal Counties of Kenya
    (Kenyatta University, 2025-11) Esiokhunjila, Duncan Nganyi
    Audit committees are important for effective corporate governance, internal control functions, reviewing integrity of financial reports, efficacy of risk management and overall oversight on public financial practices. This study investigated the relationship between audit committees and public financial management in coastal counties of Kenya. The study sought to ascertain the impact of audit committee independence, audit committee composition and implementation of audit reports on public finance management in coastal counties of Kenya. This research was grounded in institutional, resource dependency and agency theories. The study employed a descriptive research design with a targeted group of 144 individuals and 40 respondents using stratified sampling. Standardized and self-administered questionnaires were employed to gather data. Statistical Package for Social Sciences version 28 was employed for analysis of data. Statistical tests used in the study were correlation, regression analysis and Analysis of Variance tests. The findings of the study showed that there was statistically significant effect of audit committees on public financial management in costal counties of Kenya.The results revealed that audit committee independence significantly improved financial accountability and compliance within the coastal counties. Audit committee composition was also found to affect public financial management positively, with diverse professional expertise enhancing decision-making. Furthermore, the effective implementation of audit reports contributed to improved internal controls, reduced irregularities, and increased financial discipline in coastal counties of Kenya. The study recommended that coastal counties put in place measures to strengthen audit committees’ independence, by providing security of tenure, holding regular meetings and ensuring the chairman of the committee is independent and free from any undue influence or interreference in performance of his or her duties. On composition of the audit committee the study recommended the coastal counties to establish policies that promote diversity by including members with expertise in finance, accounting and risk management. Additionally, the study recommended counties put in place mechanisms for implementing audit recommendations and robust audit follow up tracking that facilitate closure of all audit queries. and recommendations. Future studies were suggested to explore audit committee effectiveness in other regions and the role of digital tools in supporting financial oversight.