Corporate governance, internal audit function and accountability in statutory corporations

Zainabu Tumwebaze,Bob Ssekiziyivu,Caroline Bonareri Tirisa,Veronica Mukyala,Ashim Tumwebonire,Collins G Ntim

doi:10.1080/23311975.2018.1527054

Zainabu Tumwebaze, Bob Ssekiziyivu + Show 4 more

Open Access

https://doi.org/10.1080/23311975.2018.1527054

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Abstract

The purpose of this study was to establish the contribution of corporate governance and internal audit function on accountability in statutory corporations. This study is cross sectional and correl...

Highlights

The purpose of this study was to establish the contribution of corporate governance and internal audit function on accountability in statutory corporations
Correlation results indicate a positive association between corporate governance and accountability as well as internal audit function and accountability while regression results indicate that only internal audit function is a significant predictor of accountability
Summary and conclusion The objective of this study was to investigate the contribution of internal audit function and corporate governance on accountability in the statutory corporations

Summary

Introduction

The purpose of this study was to establish the contribution of corporate governance and internal audit function on accountability in statutory corporations. Accountability has become a crucial topic and this has made all managers of statutory corporations (or sometimes known as state owned enterprises in other jurisdictions) to be conscious about their spending and providing how the public finances have been spent. Accountability failures are evident in many jurisdictions for example, Uganda’s Auditor General has continuously lamented accountability failures in the country (Bananuka, Nkundabanyanga, Nalukenge, & Kaawaase., 2018). According to Bananuka et al (2018), accountability can better be observed through provision of tangible evidence of work done or visibility of service delivery, financial reporting or record keeping. Bananuka et al (2018) results further indicate that provision of tangible output or visibility of activities is the strongest way of providing accountability of public resources to the resources providers According to Bananuka et al (2018), accountability can better be observed through provision of tangible evidence of work done or visibility of service delivery, financial reporting or record keeping. Bananuka et al (2018) results further indicate that provision of tangible output or visibility of activities is the strongest way of providing accountability of public resources to the resources providers

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Conclusion