Abstract: Most companies in Rwanda had not financially performed efficiently and one of the causes of their poor performance could be attributed to poor internal control systems and it’s for this reason RRA together with other bodies in Rwanda obliged all organizations to put in place better systems of internal control systems such as internal audit departments because they had poor systems before. The above left the researcher willing to find out how important financial audit is towards the performance of non-governmental organizations in Rwanda ever since the RRA obliged these companies to put better internal control systems in place. Therefore, this study aimed at apprehending the effectiveness of financial audit in performance of non-governmental organizations in Rwanda with reference to Africa Indoor Residual Spraying Rwanda Project. The study was built on both general and specific objectives. The specific objectives were; to assess the effectiveness of financial audit practices in Africa Indoor Residual Spraying Rwanda Project, to analyze the performance of Africa Indoor Residual Spraying Rwanda Project and to identify the relationship between the effective internal audit and performance of Africa Indoor Residual Spraying Rwanda Project. In order to reach the achievement of the above objectives, a combination of questionnaires, interviews, documentary reviews and analyzing financial and other reports were used. The researcher adopted descriptive research design. Questionnaires were distributed to a group of 16 respondents; however, of the 16 questionnaires issued out, only 13 were filled and returned for analysis. This represented a response rate of 81.3%, which is excellent for use in making conclusion. Universal sampling technique was applied in the study. The data were analyzed using SPSS for descriptive statistics to test the effectiveness of financial audit in non-governmental and regression analysis was used to determine the nature and magnitude of the relationship among financial audit variables. Findings revealed that there were effective financial audit practices in Africa Indoor Residual Spraying Rwanda Project and this was supported by 76.9% of the respondents who strongly agreed on the objectivity of financial audit carried out by the project auditors. Secondly, research results represented by 76.9% of the participants cited better performance in the project of which this was much geared by an effective financial audit. Also, 84.6% of the study participants strongly agreed that better performance of the project depended on effectiveness of financial audit and this was supported by ANOVA test which indicated that a p-value of 0.012 which is less than alpha of 0.05 (5%) explained that the study’s independent and dependent variables are associated. Internal auditors were recommended to continuously update themselves with the changing technologies and getting involved in frequent trainings by external experts.
Keywords: Financial audit, Performance, Non-Governmental Organization, Rwanda.
Title: EFFECTIVENESS OF FINANCIAL AUDIT AND ITS IMPACT ON THE PERFORMANCE OF NON GOVERNMENTAL ORGANISATIONS IN RWANDA: A CASE STUDY OF AFRICA INDOOR RESIDUAL SPRAYING - RWANDA PROJECT
Author: SIBOMANA Jean Pierre, Dr. Patrick Mulyungi
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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