Paper Title :Internal Controls, and Corporate Governance, Statistical Test of Independence of Variables: Case study of the Independent and Electoral Boundaries Commission of Kenya

Author :Fcpa Owen Koimburi

Article Citation :Fcpa Owen Koimburi , (2022 ) " Internal Controls, and Corporate Governance, Statistical Test of Independence of Variables: Case study of the Independent and Electoral Boundaries Commission of Kenya " , International Journal of Management and Applied Science (IJMAS) , pp. 45-51, Volume-8,Issue-3

Abstract : Abstract - This paper sought to investigate the association between Internal Controls Compliance and good Corporate Governance by way of a case study in respect of Independent Electoral and BoundariesCommission of Kenya (IEBC). The aim of this study was not to draw any conclusions on the financial reporting and corporate governance of State Enterprise but rather to gauge the associationof variables that make up the accounting and reporting and corporate governance of a typical State enterprises to design a wider reaching study involving more than one state enterprise.The researchuses the Report of the Public Accounts Committee of National Parliament which examines audited accounts of all State enterprises in Kenya. The researcher further prepared a questionnaire on Internal Controls and Corporate Governance based on the International public Sector accounting standards(IPSAS) and the International Internal Audit Checklists (IIA) as well as the Mwongozo Code of Corporate Governance which has been domesticated for the Kenyan Public Sector entities. The primary source of the secondary data gathered for the research are the findings of the audited accountsof thestate-owned enterprises (IEBC) which by law is then examined by the Public Accounts Committee (PAC) of the National Assembly who have the constitutional mandate to safeguard the state resources on behalf of the people of Kenya. Using the Chi- square test of association with IBM SPSS 26, the data wasgatheredand collated in terms of Non- compliance and Compliance with the two variables observations converted into categorical variables of Noncompliance and Compliance and based on the questionnaire observation by the members of the Public Accounts Committee and the audit observations by the Kenya National Audit Office, data collated was then categorized by a two-by-two table. The data was prepared and entered into SPSS 26 for analysis. With expected P-Value of <005at DF=1, the experiment did not provide enough evidence to reject the Null Hypothesis. The conclusion of the study is therefore that there is not association between noncompliance of internal controls and the noncompliance of corporate governance of the IEBC for the period 2017-2018 audited accounts. This information will be useful for future experiments, and researchregarding financial controls, reporting, internal controls, and corporate governance of state-owned enterprises. Keywords - Internal controls, Corporate Governance, State Enterprise, Accounting standards

Type : Research paper

Published : Volume-8,Issue-3

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