Abstract
The general objective was to assess the effect of monitoring on financial accountability in national public secondary schools in Kenya.103 national public secondary schools in Kenya were used in the study. Agency theory, Fraud triangle theory and accountability theory guided the research. Survey research was used to collect data from a populace of; 103 principals, 103 bursars, 103 BOM chairs. Questionnaires and audited financial statements were used to obtain data. Reliability was tested through Cronbach’s Alpha.The association between monitoring and financial accountability was established through a bivariate simple linear regression model which was fitted to assess the influence of Monitoring on financial accountability. The regression coefficient estimate of Monitoring was (β =0.616, t=5.020, p-value = 0.000). It was recommended that frequent external audits by county auditors be done. The principal and bursar should be allowed to evaluate the work done by the auditors and post to the central website. Keywords ：Monitoring, auditing, BOM oversight DOI : 10.7176/RJFA/10-18-14 Publication date :September 30 th 2019
Highlights
The Kenyan government has put in place internal control measures to regulate the funds invested in education
Monitoring is vital given the complex and dynamic environments faced by most organizations as it ensures that organizations are implementing activities as envisioned (Transparency International Kenya, 2014)
Uni-dimensionality of the study constructs was assessed by confirmatory factor analysis (CFA) and multi-dimensionality of the constructs and items assessed by Exploratory Factor Analysis (EFA) to explore the set of indicators that measure the constructs. 3.7.2 Reliability Analysis Internal consistency was measured by use of Cronbach alpha where values of 0.70 or higher was considered sufficient
Summary
The Kenyan government has put in place internal control measures to regulate the funds invested in education. Monitoring is the procedure of weighing the worth of a system's performance over time. Monitoring is vital given the complex and dynamic environments faced by most organizations as it ensures that organizations are implementing activities as envisioned (Transparency International Kenya, 2014). Many educational institutions in Kenya still face challenges relating to internal controls like; struggles with liquidity problems, financial reports are not made timely, accountability for the financial resources is still wanting, frauds and misuse of institutional resources. Parents Teachers associations role in many schools is limited to a few activities like fundraising for various development projects of the schools but no follow-ups are made on how the cash raised was later utilized (Simiyu, 2014)
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