Financial Management Practices and Quality of Financial Governance of Nairobi City County Government, Kenya
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Date
2023
Authors
Murigi, Elias Mwangi
Musau, Salome
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Abstract
The financial statement Auditor General report of Nairobi County Government has had unfavorable audit opinionssince the establishment of County Government in 2013. An unfavorable opinion means the auditor has gathered sufficient audit evidence and concluded that the financial statements include material and extensive inaccuracies. This study sought to investigatethe effect of financial management practices on quality of financialgovernance in Nairobi City County Government, Kenya. The study's target population was 425 employees of Nairobi City County Government's finance and economic planning division. Using a stratified random sampling technique, a sample of 85 employees was chosen. Data was analyzed using descriptive and inferential statistics. Results revealed that revenue mobilization strategy, budgetary techniques, financial reporting, and integrated financial management systemhad a positive and significant influence on quality of financialgovernance. The study recommended that counties and other local governments should ensure there is sufficient revenue administrationand mobilization policies, budgeting,and financial reporting policies as well as proper utilization of integrated financial management systemto achieve quality financial governance.
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Keywords
Budgetary techniques, revenue mobilization strategy, financial reporting, integrated financial management system, quality of financial governance
Citation
Murigi, E. M., & Musau, S. (2023). Financial Management Practices and Quality of Financial Governance of Nairobi City County Government, Kenya. Journal of Finance and Accounting, 3(2), 1-14.