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Determinants of Prudent Financial Management in the County Government of Kiambu, Kenya

Author

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  • Josphat Mwangi Waweru
  • Dr. Kadima Murunga John (Phd)

Abstract

Purpose: This study investigates the influence of financial planning, internal control systems, information communication systems, and procurement systems on prudent financial management in the County Government of Kiambu, Kenya. The study is based on the theory of public expenditure, systems theory, and transaction cost theory. Methodology: The study employed a descriptive research design targeting 190 senior, middle, and junior financial management staff of Kiambu County government, primarily consisting of accountants, finance officers, revenue officers, internal auditors, and procurement officers. From this group, a sample size of 129 respondents was drawn using Taro Yamane’s proportional sampling technique formula. Structured questionnaires were utilized to collect primary data, and a piloting of the research instrument was conducted in the Bungoma County government to ensure content validity, with Cronbach’s alpha assessing reliability. SPSS version 24 was the data analysis software used to compute statistical data. Descriptive analysis, including frequencies, means, and standard deviation, was employed to summarize the data into meaningful forms, while inferential statistics assessed the nature and strength of the correlations and direct and multiple relationships. The analyzed data was presented in tables and graphs. Findings: From the values of unstandardized regression coefficients with standard errors in parenthesis, all the independent variables (financial planning; internal control systems; ICT and procurement system were significant predictors of prudent financial management (dependent variable). Unique Contribution to Theory, Policy and practice: The study recommends that one, county governments should invest in secure and well-guarded internal control systems to guarantee prudent financial management of the county’s public finances and two, county governments must install secure, cost effective and upgraded integrated financial management system devoid of any internal or external infiltration.

Suggested Citation

  • Josphat Mwangi Waweru & Dr. Kadima Murunga John (Phd), 2025. "Determinants of Prudent Financial Management in the County Government of Kiambu, Kenya," International Journal of Finance, CARI Journals Limited, vol. 10(4), pages 45-63.
    • Handle: RePEc:bhx:ojtijf:v:10:y:2025:i:4:p:45-63:id:2713
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    References listed on IDEAS

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    1. Sumit K. Lodhia & Amir Allam & Andrew Lymer, 2004. "Corporate Reporting on the Internet in Australia: An Exploratory Study," Australian Accounting Review, CPA Australia, vol. 14(34), pages 64-71, November.
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