Abstract
The lack of efficient and effective utilization of financial resources could destroy a municipal council. Proper auditing standards could help the city councils avert financial mismanagement from some unscrupulous individuals who are out to damage the reputation of the leaders and make their hard work unnoticed. This qualitative case study was on the premise that proper auditing could help reduce or eradicate financial mismanagement and consequently aid in the improvement of the business portfolio of the municipality for the benefit of all. A qualitative descriptive method was used, and twelve executives interviewed within the four local councils' financial management structure. This article addressed two specific arguments: The first argument challenges the contention that the council must be managed according to the political party ideology to achieve goals and objectives. The second refutes the assertion that the council’s management, in line with the party’s ideology will enhance efficiency and productivity. The following research questions were addressed: RQ1: Who do you think is responsible for the financial management of councils? RQ2: What are the auditing structures and procedures in place within your council for proper transparency in the usability of finances? RQ3: What do you think; should we change or maintain the current system in place for the financial management within the council? RQ4: How can we address the issues of financial fraud within councils? RQ5: Who should we hold accountable for poor financial performance within the councils? Addressing those concerns and from the data gathered, it suffices to conclude that Georgopoulos pathway theory which is a bad managerial instrument practiced by some council staff should be avoided by management because it sees favoritism as path to success. Eroding dissatisfaction (Hygiene) and replacing it with satisfaction (motivation), Herzberg’s two factor theory will guide the management towards financial success.
Highlights
The country of Cameroon has witnessed major reforms since independence to include competitiveness for success
The study challenges the contention made by opinion pools and councilor as to whether the administration of local councils should be geared towards political dispensation or on managerial expertise entrenched in a superb auditing process in pursuit to the organization's financial objectives
RQ4: How can we address the issues of financial fraud within councils? 5
Summary
The country of Cameroon has witnessed major reforms since independence to include competitiveness for success. It is a legal entity that enjoys financial autonomy It manages domestic matters under state supervision is given the economic, social, and cultural development of the population. Journal of Finance and Accounting 2020; 8(3): 136-142 makes up Fako Division came to existence through decree No 77/203 of 19th June 1977 which set up councils and define their boundaries Situated at the former West Cameroon Capital, BRC was controlled by the district head for Victoria District from its creation. Situated in the former West Cameroon capital, Buea council shares boundaries with Muyuka sub-division in the North, Tiko sub-division in the East, Limbe sub-division in the South, and Bamboko in Meme Division on the West. What are the responsibilities of council managers to their municipalities?
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
