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Effects of Internal Control Components on Revenue Generation among Corporations in Kenya

Author

Listed:
  • Gabriel Muchoki Mutua

    (African Journal of Commercial Studies)

Abstract

Most businesses have underperformed due to the ever-changing environmental forces that affect the operation of commercial enterprises. Strong internal control systems are necessary for the institutions to implement sound revenue collection practices. Regarding the link between internal control systems and revenue generation, actual research in this area is scarce. The main objective of this research was to determine the effects of internal control components on revenue generation in Kenyan companies. The specific objectives focused on the effects of control environments, risk assessment, and control activities in Kenya. Agency theory and stewardship theory will serve as the study’s foundation. The study engaged in a literature review approach to find out whether there is a direct relationship between the internal control components and revenue generation. The study reached the conclusion that budgets heavily rely on revenue collection, which is essential to financial management. According to the report, management should continuously improve internal control procedures to keep the system current with expanding operational capability, regular internal training, and employee development.

Suggested Citation

  • Gabriel Muchoki Mutua, 2023. "Effects of Internal Control Components on Revenue Generation among Corporations in Kenya," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 2(1).
    • Handle: RePEc:cwk:ajocsk:2023-01
    DOI: 10.59413//ajocs/v2.i1.1
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    File URL: https://ijcsacademia.com/index.php/journal/article/view/159
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    References listed on IDEAS

    as
    1. Aisah Midecha, 2022. "Internal Auditor’s Role and Corporate Financial Performance in Kenya," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 1(1).
    2. repec:eme:ijlma0:ijlma-11-2016-0118 is not listed on IDEAS
    3. Charles Guandaru Kamau, 2022. "Considerations for bridging the Audit Expectation Gap: A Desk Review," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 1(1).
    4. Wonder Agbenyo & Yuansheng Jiang & Prince Komla Cobblah, 2018. "Assessment of Government Internal Control Systems on Financial Reporting Quality in Ghana: A Case Study of Ghana Revenue Authority," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(11), pages 1-40, November.
    5. Akbari Ahmadabadi, Ali & Heravi, Gholamreza, 2019. "Risk assessment framework of PPP-megaprojects focusing on risk interaction and project success," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 169-188.
    6. Sana Khalid & Muhammad Shahid & Natasha & Irshad Bibi & Tania Sarwar & Ali Haidar Shah & Nabeel Khan Niazi, 2018. "A Review of Environmental Contamination and Health Risk Assessment of Wastewater Use for Crop Irrigation with a Focus on Low and High-Income Countries," IJERPH, MDPI, vol. 15(5), pages 1-36, May.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Susan Karendi Kimathi, 2025. "Internal Accounting controls and financial statements accuracy of Public Sector firms in Kenya," East African Finance Journal, East African Finance Journal, vol. 4(2).

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