Open AccessInternal Control and Revenue Fund Management among County Governments in Kenya
Author(s) -
Cleophas Omariba Oyaro,
Orina Ronald Angwenyi
Publication year - 2016
Publication title -
international journal of accounting and financial reporting
Language(s) - English
Resource type - Journals
ISSN - 2162-3082
DOI - 10.5296/ijafr.v6i1.9746
Subject(s) - revenue , business , control (management) , commission , context (archaeology) , accounting , conceptualization , fund accounting , government (linguistics) , internal control , internal revenue , finance , audit , marketing , economics , management , service (business) , accounting information system , paleontology , linguistics , financial accounting , philosophy , artificial intelligence , computer science , biology
Informed by the auditor general’s report of 2014 in which massive frauds and misuse of the revenue fund across counties in Kenya were reported, the study sought to establish the link between internal control and revenue fund management. The study adopted components of the Committee of Sponsoring Organizations of the Treadway Commission 2013 framework in its conceptualization. The study arrived at mixed results in terms of the relationship and nature of association between the components and revenue fund management. In addition, the study did not provide enough evidence to believe whether or not there existed significant differences in internal control among county governments in Kenya. This alluded to inconsistencies in implementation of internal control among the devolved units. Lastly, the study indicated that even if the framework has been successful used in implementation of internal control among listed companies in the United States, the same framework cannot be effectively used in implementation of internal control in the context of a devolved system of government such as is in Kenya.