| dc.description.abstract | This research has been carried out within Post bank Uganda limited Kampala road branch to
establish the role of auditing towards effective utilization of funds within an organization.
Almost all literature on auditing by various scholars have expressed that auditing enhances the
effective utilization of funds within organizations.
The rampant scandals that have been taking place in the past few years over the world, in
various organizations that were constantly audited have led to this study. The existing law
requiring listed organizations to be audited and the general public refusal to buy shares in
companies without audited financial statements brought this question as a concern.” What is the
role of auditing towards effective utilization of funds within a financial institution?”
The objectives of this study were; to determine the role of auditing towards effective utilization
of finds in financial institutions, to identify existing auditing policies and practices within
Postbank and to assess accounting and internal control system within Postbank. Questionnaires
were used to collect the information and data were analyzed in the light of literature reviewed.
The following issues were found out by the researcher during her study. The researcher found
out that some employees do not clearly understand the role of auditing in their institution, which
is so unfortunate. Some even suggested that auditing should not continue in post bank. The
researcher discovered that post bank has somehow experienced misappropriation of funds.
Having found out the above mentioned issues, the researcher recommended the following to be
done. The researcher recommended orientation of employees about the role of auditing in such
an institution so that they are able to help the organization prevent uncalled for scandals. She
also recommended constant internal checks on the financial statements and internal controls so
as to avoid such mistakes of omission of entries in the books of accounts.
To a greater extent findings showed that auditing enhances proper utilization of funds and
resources in financial institution due to the fact that a big percentage of the respondents were in
support of it. The conclusion reached in support of the various scholars that auditing enhances
effective utilization of financial resources within financial institutions. | en_US |
