| dc.description.abstract | The study presents findings of the effect of internal control systems on financial performance of
private education institutions; a case study of International School of Uganda (ISU). The
objectives of the study included; to examine the effect of risk assessment on the financial
performance at ISU, to examine the role of information and communication monitoring on
financial performance of ISU and to examine the role of control activities on financial
performancein ISU. The study employed a cross sectional-case study research design. A total of
109 respondents participated in the study. They included school’s directors, administrators,
teaching and non-teaching staff. In collecting data, the researcher used both secondary and
primary sources. The researcher used both qualitative and quantitative techniques. Data
collection methods used included questionnaires and interviews. The study findings revealed that
risk assessment, information and communication monitoring, and control activities have an
effect on the financial performance of ISU. Basing on study findings, it was concluded that
involvement of staff in the risk assessment process is vital in the risk assessment process at ISU.
It was further concluded that information and communication monitoring enables ISU to identify
challenges likely to impede the school’s operations. In addition, the separation of roles reduces
chances of fraudulent acts that would affect the school’s financial performance. The researcher
recommended that there is need to establish a framework for risk assessment within the school
including early warning systems to enable the school effectively plan for and mitigate any
unforeseen circumstances. In addition, ISU should establish a committee of non-executive
directors to contribute to the board process by monitoring and reviewing management’s
performance against goals and objectives. | en_US |
