Abstract
Background: The corporate governance structure has employed a number of multiple empirical techniques that have influenced many organisations worldwide. War Child in Uganda, an independent international organisation, faced a number of financial data alterations, whose major cause was not following budgets and not adhering to rules and regulations on the use of finances. The failure to disclose information on the proper earnings caused a lot of irregularities in the financial performance of the organisation. Aim: This study aimed at investigating the effect of cooperate governance on financial performance of War Child in Uganda as guided by the following objectives: (1) to find out if the staff of War Child are aware of the existence of financial systems that lead to financial performance in War Child in Uganda and (2) to find out the relationship between corporate governance and financial performance in War Child in Uganda. Methods: The study adopted cross-sectional and descriptive research designs where both qualitative and quantitative approaches were used. Results: The findings of the study showed that the employees of War Child Uganda are aware of the existence of financial systems; however, the failure in financial performance is not explained. The findings also showed that there is a positive relationship between corporate governance and financial performance of War Child in Uganda. Conclusion: Recommendations further state that if War Child in Uganda embraces more accountability, transparency and competence as a way of improving its financial performance, there will be a significant improvement in financial accountability, reporting, budget performance and liquidity.
Highlights
Introduction and backgroundThe term non-governmental organisation (NGO) is used to define an agency that has no government control but receives aid and donations from national and international agencies to carry out poverty alleviation activities on humanitarian sectors (Perkins & Hendry 2015)
If the staff of these organisations put more effort in ensuring that the knowledge they have about financial systems is followed as per stipulated guidelines, they would be in a position to attain higher levels of financial performance in War Child
The double asterisks mean the relationship tested is a two-tailed investigation. These results show that if War Child organisations go throughtheir oversight and embrace corporate governance of accountability, transparency, competency, role clarity and conduct in their institutional maker-up, they are most likely to improve on their financial performance, and this will be evident in terms of improved financial accountability, reporting, budget performance and liquidity
Summary
The term non-governmental organisation (NGO) is used to define an agency that has no government control but receives aid and donations from national and international agencies to carry out poverty alleviation activities on humanitarian sectors (Perkins & Hendry 2015). The National Board of NGO is authorised under the current legal framework to oversee all NGO activities in the country. Despite their importance in Uganda, NGOs face challenges from regulating agencies, laws and policies governing their regulations, as well as internal NGO challenges. The study, investigates the effect of cooperate governance on the financial performance of War Child Uganda, where the background, problem statement, objectives, literature review, methodology and findings of the study are discussed. The failure to disclose information on the proper earnings caused a lot of irregularities in the financial performance of the organisation
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