Internal Controls and Financial Management in The County Government of Uasin Gishu, Kenya.
Kipchumba, Daniel Kendagor
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Effective financial resources forms an integral part of financial management that is of utmost importance to all managers and heads of institutions. It is clear that any association without a structure on internal control set up is by and large presented to several dangers that are equipped for disintegrating the association in less or no time. Most of the studies done on internal controls were done outside Kenya, the studies done in Kenya focused on profit making organizations. The study was determined to establish the influence of internal controls on financial management in Uasin Gishu county government of Kenya. The specific objectives of the study are first to establish internal audit effects on financial management in Uasin Gishu County Government, Kenya. Secondly, to determine the influence of reporting on financial management in Uasin Gishu County government. Thirdly, to determine the influence of information communication on financial management in Uasin Gishu County Government, Kenya. Lastly, to determine the influence of risk assessment on financial management in Uasin Gishu County Government, Kenya. The study adopted descriptive research design. Multiple regressions was used for the analysis of the study. The target population for this study consisted of the six administrative divisions in the County Government of Uasin Gishu. Where the heads and deputy heads of finance, internal audit and procurement were the respondents. Questionnaires was administered to the heads and deputy heads of finance, internal audit and procurement as the respondents of the study. Data collection procedure entailed dropping the questionnaire and picking them later which gave the respondents enough time to respond. It is therefore recommended that further studies be conducted in other county governments so as to compare findings as well as establishing other variables that enhance financial management. In conclusion, the results shows that an increase in risk assessment negatively influences financial management and therefore risk assessment is essential but other strategies must be applied to enhance financial management.