Browsing by Author "Waweru, Fredrick"

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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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    Control Environment and Financial Performance of Listed Agricultural Firms in Nairobi Securities Exchange, Kenya
    (International Journal of Innovative Research and Advanced Studies (IJIRAS), 2024-09) Karaya, Evalyne Njeri; Waweru, Fredrick
    Internal controls are put in place to ensure safe custody of all assets; to avoid misuse or misappropriation of the firm’s assets and to detect and safeguard against probable frauds. Some of the listed Agricultural firms in the Nairobi Securities exchange have registered declining performance in recent years. The current study therefore sought to determine the effect of control environment on the financial performance of agricultural firms listed in Nairobi stock exchange. The study adopted descriptive research design using both quantitative and qualitative approach. The study targeted 7 agricultural firms listed in Nairobi stock exchange. The target population was 286 employees working in accounting, administration, and operations department in the 7 companies. Stratified random sampling was used where the departments were used as stratas. Thus, in total, the study targeted a sample size of 164 respondents. Primary data was collected by use of a structured questionnaire while secondary data was obtained from published and audited financial statements of the listed agricultural firms. The data obtained was analysed using quantitative analysis. Data analysis made use of both descriptive and inferential statistics. The study found that the control environment had significant effect on financial performance of agricultural firms listed in NSE. The researcher provided some recommendations based on the research findings, Agricultural firms should diversify their control measures related to compliance level which could be done through assigning duties to individual employees based on their competence and training.
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    Sustainability Reporting and Financial Performance for Listed Commercial Banks at the Nairobi Securities Exchange – Kenya
    (IJARKE, 2024-07) Gitau, Gathukia Reuben; Waweru, Fredrick
    Sustainability reports have become important tools in recent years for companies to measure their environmental performance and achieve sustainable development. Still, the influence of sustainability reporting on a company's financial returns varies, with certain companies experiencing progress while others observe no discernible effect. Despite the importance of sustainability reporting, there are few studies on the impact of sustainability reporting on corporate financial performance of banks listed on the NSE. Given this, the purpose of this study was to ascertain how sustainability reporting affected the financial results of commercial banks that were listed on the Nairobi Securities Exchange. This research used agency theory, stakeholder theory, and signaling theory to guide its research. A descriptive exploratory design was employed in this study, focusing on the 11 NSE-listed banks that collectively employ 23,534 individuals. The population was divided into secretarial, clerical, supervisory, and management strata using stratified random sampling. Data was collected through questionnaires (primary method) and through data collection instruments (secondary method). The data was later coded, entered, cleaned, and analyzed using SPSS version 28. Descriptive statistical measures, including means, percentages, and frequencies were employed to summarize and characterize the sample data. Inferential statistical techniques such as correlation and regression were also applied to derive conclusions and make inferences beyond the observed sample results. The results of this study show a clear connection between the disclosure of environmental information and the financial performance of banking institutions. The banks placed emphasis on environmental sustainability through various initiatives such as clean energy and waste management. However, the study also found that a comprehensive shift toward environmentally friendly practices has yet to occur. This study adds value to the current scholarly discourse by improving our understanding of the connection between sustainability reporting and financial performance.