Internal Audit Practices and Financial Performance of Deposit Taking Savings and Credit Co-Operative Societies in Kericho County, Kenya

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dc.contributor.advisorJoseph M. Theurien_US
dc.contributor.authorKiplangat, Bett Leonard
dc.date.accessioned2022-03-31T10:32:31Z
dc.date.available2022-03-31T10:32:31Z
dc.date.issued2021
dc.descriptionA Research Project Submitted in Partial Fulfilment of the Requirments for the Award of the Degree of Master of Business Administration (Finance Option), School of Business, Kenyatta University, December, 2021en_US
dc.description.abstractPerformance of deposit taking savings and credit cooperative societies in Kenya has been rising over the last decade. The rate at which the deposit taking savings and credit cooperative has been growing in Kenya is the highest in Africa but the DT-SACCOs in Kericho County have not enjoyed the financial growth. It is because of this reason that warranted this study to be carried out. The main objective of the study was to establish the effect of internal audit practices on the financial performance of deposit taking SACCOs in Kericho County. The study was guided by the following specific objectives; establishing the effect of audit committees, internal auditor’s independence, risk management and internal controls on financial performance of Savings and Credit Cooperatives in Kericho County. The study was anchored on agency theory, capture theory and contingency theory that were linked to the study variables. The study employed descriptive research design. The target population was the five licensed deposit-taking SACCOs operating in Kericho County and the target respondents were staff holding management positions. The study employed the census survey technique. The study used Primary data which was obtained using questionnaires that were first pilot tested to ensure they were valid and reliable. The collected data was analyzed using descriptive statistics such as means, standard deviation and frequencies and inferential statistics such as correlation and regression with help from SPSS. The results obtained were then presented using in tables, charts and discussions. The findings showed that internal audit practices significantly affected financial performance of the DT-SACCOs in Kericho County. This is based by the r values in the correlation analysis such that risk management had the strongest relationship to financial performance with r value of 0.655. The auditor’s independence aspect had the weakest link to financial performance with r value of 0.357, internal controls was rated second with r value of 0. 526 and audit committee had r value of 0.420. The overall relationship between internal audit practices is positive and moderate. Further results showed that 47.4% of the changes in the financial performance of the deposit-taking SACCOs in Kericho County can be explained by changes internal audit practices. The study concluded that internal audit practices positively and significantly influenced the financial performance of the deposit-taking SACCOs in Kericho County. The study concluded that internal audit practices and its aspects led to improved financial performance of the deposit-taking SACCOs in Kericho County. The study recommends the adoption of internal audit practices in firms that are seeking to improve their financial performanceen_US
dc.description.sponsorshipKenyatta Universityen_US
dc.identifier.urihttp://ir-library.ku.ac.ke/handle/123456789/23456
dc.language.isoenen_US
dc.publisherKenyatta Universityen_US
dc.subjectInternal Audit Practicesen_US
dc.subjectFinancial Performanceen_US
dc.subjectDeposit Taking Savingsen_US
dc.subjectCredit Co-Operative Societiesen_US
dc.subjectKericho Countyen_US
dc.subjectKenyaen_US
dc.titleInternal Audit Practices and Financial Performance of Deposit Taking Savings and Credit Co-Operative Societies in Kericho County, Kenyaen_US
dc.typeThesisen_US
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