IDEAS home Printed from https://ideas.repec.org/a/bdu/ojijfa/v7y2022i4p35-54id1675.html
   My bibliography  Save this article

Assessment of Internal Control Practices on Financial Performance of State Corporations in Kenya

Author

Listed:
  • Robert Baraka Mrima

  • Martin Onsiro Ronald

Abstract

Purpose: The purpose of this study was to assess the influence of internal control practices on financial performance of state corporations in Kenya. State corporations have been identified as important drivers in accelerating national growth and2 development as well as2improving delivery of public services. However, their performance has over the years been a2matter of public2concern. Methodology: The study used descriptive research design. A study population of 561 was collected2and a sample of 234 was selected for the study randomly using Yamane (1967) formula. It involved collection of primary data on segregation of duties, transactional authorization, independent checks, documentation and records. Secondary data was collected as well to assess the performance of the state corporations. Data was obtained randomly from the corporations and analyzed using descriptive statistics and regression analysis and the outcomes were shown through tables. Findings: Upon analysis of data collected, findings showed that internal control practices significantly influenced the financial performance of state corporations in Kenya. The internal control practices had a significant influence on the financial performance of state corporations. Unique Contributions to Theory, Practice and Policy: It was concluded that these internal control factors were critical and needed to be embraced so as excellent financial performance of state corporations can be realized. The study recommended that the management should continually assess the risk, monitor control implementation, and modify controls as needed in order to identify and establish effective controls.

Suggested Citation

  • Robert Baraka Mrima & Martin Onsiro Ronald, 2022. "Assessment of Internal Control Practices on Financial Performance of State Corporations in Kenya," International Journal of Finance and Accounting, IPRJB, vol. 7(4), pages 35-54.
    • Handle: RePEc:bdu:ojijfa:v:7:y:2022:i:4:p:35-54:id:1675
    as

    Download full text from publisher

    File URL: https://iprjb.org/journals/IJFA/article/view/1675
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdu:ojijfa:v:7:y:2022:i:4:p:35-54:id:1675. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chief Editor (email available below). General contact details of provider: https://iprjb.org/journals/IJFA/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.