Internal Controls

This paper examines a comprehensive audit of Meridian Energy, a leader in New Zealand's renewable energy sector, conducted by the Audit League. The audit identifies critical risks and financial stability concerns, focusing particularly on the company’s contract approval process, governance issues, and the presence of potential fraud risks. Through a narrative-driven approach, the paper outlines key findings, such as the need for enhanced scrutiny of contracts to maintain good governance and stakeholder trust. The risks of kickbacks, if left unaddressed, could compromise the company’s reputation. Consequently, the paper proposes actionable solutions, including an internal investigation into the alleged fraud, overhaul of the contract approval process, and improved protection for whistleblowers. By implementing these strategies, Meridian Energy can strengthen its internal controls, mitigate risks, and safeguard its future as a forerunner in the renewable energy sector. The overarching goal is to ensure Meridian Energy remains financially viable, maintains its ethical standards, and continues its leadership in sustainable energy practices.

Tier 3 commercial banks in Kenya are yet to achieve anticipated profitability despite the growing adoption of digital banking
technologies, facing declines in both market share and profitability.  The aim of this endeavor was to ascertain how Tier III
commercial banks' profitability is influenced by agency banking. Agency Theory served as the research's guiding theory
providing a thorough framework for comprehending customer adoption and market performance. A descriptive research was
adopted. The examination’s respondents were the operational and financial records of Kenya's 22 Tier 3 commercial banks.
Yamane's method was used to determine the ideal sample size of 102 records from a target population of 132 records that were
evenly dispersed across six different data categories. The profits of Tier 3 commercial banks were examined using secondary
data from publications already in existence on revenue growth using the Statistical Package for Social Sciences (SPSS) for
Analysis of Variance (ANOVA) and multiple regression analysis. The study found integrated agency banking grew by 54.9%,
enhancing customer outreach and reducing operational costs. Based on these findings, the study recommended that Tier 3
banks continue investing and expand agency banking networks to reach underserved areas. Finally, further research into
customer satisfaction and digital adoption rates was recommended to fine-tune strategies for maximizing the impact of agency
banking on the overall profitability and market competitiveness of tier 3 commercial banks in Kenya.

This white paper explores how digital assets such as USDC on Ethereum and Bitcoin stored in multisignature wallets can become locked, how abnormal payout events are handled, and how recovery is possible. It also distinguishes between indefinite locking and time-based release conditions, providing simulations of release timelines. The analysis integrates technical, governance, and legal perspectives, offering a comprehensive view of fund recovery in blockchain ecosystems.

Cash collection technique represents "the management of cash inflows and outflows of the firm, as well as the stock of cash on hand. The primary goal of internal control over cash collection function is to minimize the amount of cash a firm must hold in order to carry out its normal business activities on one side, and on the other, to obtain sufficient cash funds that would enable the firm to take trade discounts, to maintain its credit rating and to meet unforeseen cash needs. This study will be specific to Wegagen bank S. C., Hosana branch with the aim of assessing the internal control on cash collection. From the total of 38 workers of the bank, samples of 20 employees were selected based on simple random sampling technique. In doing so, the researcher was used the data mostly from both primary and secondary sources. The collected data from both sources were processed using the basic data processing procedures and ready for analysis. The data analysis was commenced, using simple descriptive statistical analysis method. So, the result of this result showed that there is proper internal cash control system and also have good cash collection procedures and practices in the bank. Finally, the bank should continue its practice and update his employees through training with the new way of working. II ACKNOWLEDGEMENT I am greatly indebted to my advisor Mr.Mengistu Deyassa for his valuable comments, suggestions, and advice at each stage of preparing my research paper. My heartfelt gratitude also goes to my beloved family for their continuous support, encouragement, and creating conducive environment where I can focus on my study and work at a time. My deepest admiration and thanks also goes to all my friends for their valuable support, advice and moral encouragement during each step of writing my research paper. III ACRONOMY AICPA American institute of certified public accountant ICS Internal control system OECD organization for economic cooperation and development COSO Committee of sponsoring organization IV

The financial sector in Kenya, particularly the Savings and Credit Cooperative Organizations (SACCOs), plays a crucial role in providing financial services to a significant portion of the population. SACCOs are vital for promoting financial inclusion, economic development, and social welfare, making regulation of the sector highly critical. Despite enhanced regulatory efforts by SASRA that places more attention on financial reporting, transparency and accountability through mandatory disclosures, there is limited empirical evidence on the impact of these regulation disclosures on the financial performance of SACCOs in Nairobi County. Therefore, the study sought to fill the gap in literature by examining the effect of regulation disclosures and financial performance of deposit taking Sacco’s in Nairobi County. The study is guided by four key theories, namely; Agency theory, Signaling theory, Legitimacy theory, and Information Asymmetry Theory. The study adopted a descriptive research design. The target population of the study comprised of all the 601 employees drawn from accounting department and management levels from all the 49 DT-Sacco’s with operations in Nairobi County. Stratified random sampling technique was used to select the study sample from all the 49 Saccos. Simple random sampling technique was utilized to administer questionnaires to the sample frame that comprise of accountants and managers from these firms. The study utilized Krejoice and Morgan formula to arrive at a study sample size of 264 respondents, which increased by 30% to cater for the random error and non-response. The study was based on quantitative data where both descriptive and inferential analysis techniques were used to establish the effect regulation disclosures on the financial performance of SACCOs in Nairobi County. Linear regression was used to determine the extent the predictor variable influence financial performance of Deposit taking Saccos’ in Nairobi County. Validity and reliability tests were conducted to ensure that instruments used are reliable and measure the contracts targeted by the study. The study revealed high adherence to disclosure practices across all four variables: audit quality (M = 4.08, SD = 0.36), capital adequacy (M = 4.03, SD = 0.78), liquidity (M = 4.08, SD = 0.42), and governance (M = 4.12, SD = 0.41), indicating strong compliance and risk management frameworks among SACCOs. However, the explanatory power of these disclosures on financial performance was low, with audit quality (7.4%), capital adequacy (5.3%), liquidity (3.3%), and governance (3.4%) showing weak or negative correlations with ROE. This suggests that while these practices enhance stability and compliance, they do not significantly drive short-term profitability.

Objectives: This paper present a thorough understanding of bid evaluation process and assessment of innovation in road construction industry. Methods/Analysis: The research articles reviewed are based on topics of bid evaluation process, evaluation of bids in road construction industry, the indicators and techniques of bids evaluation, process of Bid evaluation in countries, innovation in road industry, and indicators of innovation in the context of road construction industry. Findings: It is widely accepted that projects related to the road construction must be accomplished in an organized manner. Literature indicates that the road constructing demands from customers and competition of assessing and evaluating tenders have been increasing rapidly. Novelty /Improvement: Challenges in developing suitable roads contribute to the inconsistency in the industry and directly demands towards physical work on a road construction project, nevertheless, a failure to accurately assessment of tenders can lead to complications for the whole project and road Construction Company. The selection of a suitable construction contractor's surges likelihoods of successful achievement of a road construction project. This may also achieve the customer goals, and retain the project schedule on time, within the budget and achieve high quality project.

This study comprehensively examines the impact of the General Data Protection Regulation (GDPR) on information systems auditing to accurately analyze the key role of these regulations in ensuring compliance with standards and strengthening data security infrastructures. Given the extensive changes that GDPR will create in regulatory structures, this study analyzes its legal frameworks and their impact on the approach to information systems auditing and risk management. In this regard, first, the existing regulatory frameworks and the implementation structure of these regulations are examined, as well as how organizations comply with their requirements, existing challenges, and upcoming opportunities. Then, its effects on information systems auditing, data security, and risk management processes are analyzed. The research findings show that compliance with the requirements of the GDPR in audit processes not only leads to organizations’ alignment with the regulations but also improves the level of data governance and information security. The research also highlights the role of new audit technologies in optimizing regulatory processes and increasing the efficiency of data protection audits. By leveraging the analysis provided, organizations can develop better strategies to increase transparency, reduce regulatory risks, and improve accountability in complex data-driven environments.

Objective
The purpose of this research is to design a comprehensive and holistic model in the field of factors affecting the improvement of the quality of financial reporting and internal control in companies listed on the Tehran Stock Exchange The absence of a comprehensive model that encompasses the factors affecting financial reporting quality, with clear classification and specific indicators, has motivated this research. By considering integrated reporting and internal controls, along with the dimensions identified in previous studies, this research aims to assist managers and experts in adopting a more holistic view of financial reporting and integrated control. This approach seeks to safeguard stakeholder interests by summarizing, combining, and classifying relevant categories and concepts.

Methods
This research is quantitative in nature, with an applied purpose. It is also a survey in terms of data collection methodology. The statistical population of the study included faculty members and professors of financial management and accounting at Tehran universities, experts from the Stock Exchange and financial and auditing institutions located in Tehran province, and financial and accounting managers of companies listed on the Tehran Stock Exchange. Since the most basic application of factor analysis is to reduce the number of variables to a limited number of factors that usually indirectly affect the main variable, this method was used in this study to analyze the data and reduce the number of variables

Objective
This study is to examine the relationship between the disclosure of internal control weaknesses and the efficiency of human resources investment in companies listed on the Tehran Stock Exchange. Since investment in human resources is recognized as one of the vital factors for the development and growth of business units, studying the factors affecting the efficiency of such investments is of great importance. Weaknesses in the internal control system can influence managerial decision-making and prevent optimal and efficient human resources investment. Therefore, this study aims to clarify how the disclosure of these weaknesses may impact the efficiency of human resources investment.
Methods
The data collection method for this study is archival. To test the research hypotheses and examine the relationships among various variables, a panel data model has been employed. The model proposed by Cao et al. (2024) has been used to measure inefficiency in human resource investment. After applying the relevant restrictions, the statistical sample consists of 123 companies listed on the Tehran Stock Exchange over the period from 2013 to 2022. The total number of firm-year observations is 1,230

Public procurement plays a central role in India's economic growth and governance by enabling the acquisition of goods, services, and infrastructure in a fair, transparent, and cost-effective manner. Over the last two decades, India has moved from traditional manual tendering systems to modern e-procurement frameworks, supported by digital platforms such as the Government e-Marketplace (GeM) and the Central Public Procurement Portal (CPPP). Simultaneously, Public-Private Partnership (PPP) models, consortium bidding, reverse auctions, and inclusive procurement policies for Micro, Small, and Medium Enterprises (MSMEs) have reshaped procurement practices to ensure transparency, efficiency, and inclusivity. This paper explores the structure of tendering and bidding processes in India, the various PPP models, support mechanisms for small industries, toll collection frameworks, supplier prequalification systems, and distribution of orders by PSUs. It also analyses innovations like reverse auctions and e-procurement, providing a comprehensive understanding of the current procurement ecosystem. The study concludes with policy recommendations for improving efficiency, minimizing risks of cartelization, and enhancing transparency in India's procurement landscape.

Insider threats represent one of the most significant risks to organizational security, as they originate from individuals who already possess authorized access to systems, assets, or information. Unlike external actors, insiders exploit legitimate trust and familiarity with internal processes, making detection particularly challenging. Common Indicators of Potential Insider Threats Include: Behavioral Red Flags: Sudden lifestyle changes, unexplained financial gain, secrecy, or reluctance to share job-related information. Workplace Conduct Issues: Repeated policy violations, unusual working hours, resistance to oversight, or attempts to bypass established procedures. Data/Asset Misuse: Unauthorized access to sensitive files, excessive downloading of data, or irregular handling of cash or merchandise. Interpersonal Conflicts: Heightened dissatisfaction with management, grievances about compensation, or signs of disengagement and hostility.

The study sought to address bribery and corruption in procurement on the performance of
contracts in the public sector procurement.
Procurement’s contribution will immensely impact greatly either positively or negatively on the
performance of contractors
The main objective of the study was to examine the maximum contribution of purchasing to the
competitiveness, Controlling and minimizing of corruption in the awarding of contracts in terms
of civil works of Ministry of Roads and Highways.
Among other objectives of this study includes, to examine how civil works contract are been
awarded, determining how the company buys industrial materials, equipment, to examine
whether the threshold in the award of civil works in the Public Procurement Act (PPA) and to
examine any omission including misrepresentation that knowingly mislead a party to obtain
financial or other benefit to avoid an obligation
.
This has proved beneficial enough to the extent that, data collected was analyzed and
conclusions was drawn based on the responses gathered which showed that the performance of
procurement can be greatly influenced by bribery and corruption when procurement professional
allows themselves to be influenced by suppliers or when they do not follow the right methods of
awarding the right contractor contracts on civil works.

The historical development of Artificial Intelligence (AI) has been an
incremental one, where cascades of many breakthroughs in technology have led to advances in intelligence for all-parallel, all-digital simulators for systems with pre-defined rules sets [1-2]. Notable exceptions exist which display truly general native intelligence, and which do not require nearly infinite compute resources, but none have yet been able to successfully navigate in physical environments to create lasting organizations, replicate themselves, and achieve self-sustainability quality, as these forms of life do [3-5]. In mimicking the intelligence of these complex naturally evolved Living Systems, AI systems have become general production-quality, affordable tools for high-volume data and signal processing tasks, and semi-autonomous decision-support systems for moderately larger artifice processes in many mission-critical domains undertaken by humans and human-centered organizations, supported by their technical systems.

In this paper an attempt is made to review the current status of micro finance sector in the state of Karnataka, in terms of potential demand for micro finance services, current level of outreach and supply in relation to the potential, and extent of involvement of various types of institutions. The rural bankers, NGOs and some government functionaries have done splendid work in the development of self-help groups in the state of Karnataka. The state of Karnataka has been a pioneer in the programme of SHG Bank Linkage and is indeed hailed as a laboratory for micro finance innovations. Under the "Stree Shakthi" programme of Government of Karnataka, the Department of Women and Child Welfare is actively involved in the promotion of SHGs. On the other hand the Regional Rural Banks have themselves promoted thousands of SHGs and have credit linked them a commendable service indeed.

The Auditor General revealed serious financial struggles ranging from fraud, misappropriation of funds, flawed procurement processes, high unsettled fees, negative working capital and lack of value for money, hence the need for budgetary control process in technical and vocational education and training institutions. The study examined the influence of budgetary control process on financial expenditure in technical and vocational education and training institutions in Coast region, Kenya. The specific objectives were to determine the influence budget formulation, to evaluate the influence of budget approval, to examine the influence of budget execution and to analyze the influence of budget monitoring on financial expenditure in technical and vocational education and training institutions in Coast region, Kenya. The study was anchored on budget theory, budgetary control theory, resource based theory and goal setting theory. The study employed cross-sectional survey research design targeting administrators, accountants and accounts officers of the eleven TVET institutions located in Coast region, Kenya. Questionnaires were used to collect primary data and were self-administered with structured questions. The study's findings revealed that each of the four subsets of budgetary control process namely budget formulation, budget approval, budget execution and budget monitoring influenced financial expenditure in technical and vocational education and training institutions in Coast region, Kenya. The study recommends clear financial goals, fostering communication and collaboration, and using budgetary control as a tool for performance evaluation and decision-making for financial expenditure.

The text and data in this publication may be reproduced as long as the source is cited. Reproductions for commercial purposes are forbidden. The African Development Bank disseminates the findings of work in progress to encourage the exchange of ideas about economic research and policy issues in Africa. Our main objective is to disseminate findings quickly, so we compromise and bear with presentations that are not fully polished. The papers are signed by the author(s) and should be cited and referred accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s). They do not necessarily represent the view of the African Development Bank, its Board of Directors, or the countries they represent.

Renewable energy adoption plays a crucial role in driving the structural change and economic development of developing economies. This research study explicitly examines the role of renewable energy adoption in the labour transition process during structural transformation in developing economies as economic activity shifts from the traditional rural sector to the modern industrial sector. The study aims to validate the Arthur Lewis Dual-Sector Model using data from 27 developing economies, spanning 16 annual observations and covering the period from 2006 to 2022. The chosen period highlighted key events in the structural transformation of these countries. The study entailed the construction of a labour transition index for the countries in observance of the transition of labour from the rural agrarian sector to the urban mechanized industry. The analytical framework used in the study combines the Panel Generalised Method of Moments (GMM) and the Quantile Regression approaches. First, renewable energy has a negative and significant effect on the labour transition index. The adverse impact is reasonable as the overall labour transition index contains more industrial sector employment that will resist the change from the orthodox fossil fuel energy option. Another finding shows that access to clean fuel energy in rural areas has a positive and significant effect on the labour transition index, supporting the application of the Arthur Lewis model of rural-urban transition in the unlimited labour supply thesis. While recommending an increase in the adoption of renewable energy sources in developing countries, the study also suggests improving the capacity building of human resources to handle the technology associated with renewable energy implementation.

Etik ve iş etiği kavramları bugüne kadar çok sayıda çalışmaya konu olmuştur. Bu çalışma kapsamında etik kavramının felsefi içeriğine değinilmemiş; iş etiği ise “etik kodlar” özelinde incelenmiştir. İş etiğinin kurumsal itibar ve kurumsal yönetim gibi ilişkili kavramlarla olan bağına kısaca değindikten sonra etik kodların amacı, tarihçesi, gelişimi, işlevi, faydaları, hazırlanış ve uygulanışı ele alınmıştır. Bu başlıklar altında iş dünyasında iş ahlakı, etik ve etik kodlar üzerine çalışmalar yapan sivil toplum kuruluşlarının bu alana katkıları, akademik camiada konunun en azından sayısal düzeyde yansımaları ve şirketlerin etik kodları incelenerek raporlaştırılmıştır. Sonrasında ülkemizde faaliyet göstermekte olan yedi sektördeki işletmelerin etik kodları incelenmiş ve ana başlıklar altında sınıflandırılmıştır. Çalışmanın bu haliyle etik kodlar alanında yapılan çalışmalara mercek tuttuğunu ve ileride yapılacak detaylı araştırmalar için de kaynak niteliğinde olduğunu ifade etmek gerekir. Ayrıca iş dünyası etik kodlarını oluştururken bu metindeki örneklerden yararlanabilecektir.

This paper investigates whether shareholder value is affected by non‐compliance with the prescriptions of a principle‐based ‘comply or explain’ system of corporate governance in the context of the global financial crisis of 2007–2009. Using System Generalized Method of Moments estimates to control for different types of endogeneity, the main findings of this paper suggest that non‐compliance with the UK Corporate Governance Code adversely affects shareholder value. Furthermore, ex‐post estimates reveal that compliance with certain corporate governance mechanisms is more beneficial than others. With regard to this, compliance with provisions related to board independence is more important than complying with performance‐related pay requirements of the code. These findings have implications for policy makers and financial institutions regarding the usefulness of compliance with a prescribed code of corporate governance, specifically during periods of financial distress.

Budgetary control holds an imperative place amongst methods utilized in the planning and control roles of a society. The aim of the research is to determine the effects of budgetary control on the financial performance of dairy cooperative societies in Baringo County, Kenya. Descriptive research strategy was used. The units of analysis were 13 registered cooperatives in Baringo County, a sample of 39 employees drawn from finance department. The research was carried out using census survey since the target population was small. Primary data was collected using questionnaires. Dependability was verified using Cronbach's alpha coefficient. Secondary data was extracted from annual financial reports to measure financial performance. Descriptive statistics comprising mean, percentages, frequencies, and inferential statistics through Pearson’s correlations as well as multiple regression models for the 13 registered dairy cooperatives for the period 2017-2021 was employed to evaluate the data.  Analyzed data was displayed through tables, graphs, and charts. The study was guided by various ethics, standards as well as principles relating to research in Kenya. The research showed that budgetary planning, budgetary coordination, budgetary communication and budgetary evaluation both had the significance threshold of p<0.05 henceforth all had significant effect on financial performance. The findings suggested that majority of the participants agreed with the fact that budgetary planning; budgetary coordination, budgetary communication and budgetary evaluation indeed affected financial performance of dairy cooperative societies in Baringo County. The study recommended enhanced regulatory framework, shareholder participation and revenue collection and allocation. It also recommends the formation of budget committees, effective leadership and organizational structure. Additionally, it recommends budget participation process, authority and responsibility and feedback process. Besides, it recommends improvement in internal audit, accuracy of financial report and audit report.

Interest on debt is generally tax-deductible, unlike dividends, it is expected that a company's tax rate will affect its debt financing decisions. Consequently, higher tax rates should lead to greater advantage from interest tax shields, thereby promoting debt financing over equity financing. Debt financing is a type of external financing that allows businesses to raise additional capital after they have been established. This inquiry aimed to scrutinize how borrowed capital influences the fiscal efficacy of transportation enterprises in Mombasa County of transportation enterprises in Mombasa County. Specifically, the study sought to ascertain the effect of taxation on financial performance of transportation enterprises in Mombasa County. The research was anchored on trade-off theory and utilized a cross-sectional research design. The intended group consisted of 190 transport companies in Kenya, all associated with the Kenya Transporters Association. A sample size of 66 companies was calculated using Fisher's statistical formula and selected through a purposive sampling technique. Questionnaires served as the primary data collection instrument, supplemented by secondary data sheets to enrich the gathered information. The validity was confirmed via expert reviews and pre-testing, while data reliability was ensured through retesting and the application of Cronbach's Alpha Coefficient. Quantitative analysis of the gathered data was performed using SPSS v.26. This comprises descriptive statistics, including standard deviation and central tendency measures like mean, frequencies, and percentages. Inferential statistics was applied to conduct multiple regression and correlation analyses, which determine the relationship among the variables under study. The study findings indicated that taxes exerted a notable influence on how companies secured debt financing. Statistical analysis (specifically, regression) demonstrated a direct and statistically significant relationship between taxation and a firm's overall performance. The study established that tax burdens negatively affect financial performance.

This study evaluates the effect of internal control on financial performance of small and medium scale enterprises in Ekiti State. Using a questionnaire survey of 75 selected small and medium scale enterprises in Ado Ekiti metropolis, the study sourced primary data through the use questionnaire. The study specifically sought to investigate the effect of risk assessment (RASS), information and communication (ICOM) and monitoring (MONIT) on the return on assets (ROA) of the selected SMEs. Findings in the study shows that there is a positive and significant correlation between risk assessment and the Return on Assets at 5%. (P=0.018<0.05), it also shows that there is a positive and significant correlation between information and communication and the Return on Assets at 5%. (P=0.016<0.05). The study also shows a positive and significant correlation between monitoring and the Return on Assets at 5%. (P=0.035<0.05). In particular, this study shows that the risk assessment, information and communication, and monitoring components of internal control are key drivers of SMEs financial performance. These findings have important implications for business owners who aim and aspires to enhance the effectiveness of internal control in boosting their return on assets and total profitability. The study concludes that financial performance of small and medium scale enterprises in Ekiti State is impacted by effective internal control, and the basic components of internal control are essential to it. The study recommends that owners of small and medium scale enterprises should upgrade and ensure that internal controls are in place in their businesses to improve the financial performance and overall profitability in their operation.

Strategic digital technology integration serves as a significant catalyst for enhancing performance across various organizations, including universities. The purpose of this study was to assess effect of strategic digital marketing intelligence strategies on the organizational performance of public universities in Kenya.  Resource based view theory was used. Research design was descriptive survey design. Stratified random sampling was used to select target population of 2085 respondents from four Universities in Western Kenya. A sample size of 336 was used. Both descriptive; mean, standard deviation, percentage and inferential statistics; Pearson correlation and regression analysis were used to present data. It was revealed that; digital marketing intelligence strategies had a positive correlation with organizational performance of public universities in Kenya. ANOVA revealed that, statistically, there is a significant positive relationship digital marketing intelligence strategies at (p = 0.000<0.05 and organizational performance of public universities in Kenya. The study concludes that marketing intelligence strategies determines organizational performance of public universities in Kenya. It was recommended that organizations should adopt effective, digital marketing intelligence strategies and digital product innovation strategies for better performance of public universities.

Internal control, which plays a proactive and integral role in organizations’ adaptation to changes and alterations that they face, is a dynamic structure that is developed as a result of strategic plans and analyses which contributes greatly to the realizing of organizational strategies. Strategic analysis has two aspects. First one is the aspect that displays the internal characteristics of organization and the second is related to its external environment. Information and communication have vital importance because of being both one of the internal characteristics of organization and one of the compounds of internal control. In the application stage of the research, a face-to-face survey was applied to 373 people selected by simple random sampling, who work at state schools of primary and secondary education in province of Nigde, in Turkey. Hypotheses that were formulated according to research model were analyzed by appropriate statistical methods. Consequently, perceived communi...

Professional residency projects (PRP) have the theoretical knowledge and skills of the professional discipline of the students who develop them. Each professional residency project provides companies with viable opportunities and solutions that contribute to productivity. We sought to identify the influence between the application of the PRP and the changes in effectiveness and efficiency. This application affects the internal control and generates an organizational change. This paper analyzed some effects of the PRP through a descriptive and documentary study. The data collection instrument was validated through the Pearson correlation. The dependence between PRPs and the generation of productivity, change in internal control was calculated. The results obtained were generated with the chi-square statistical independence test. This test showed four variables that are more dependent on each other. The theoretical square chi of a pair of variables was graphed and the theoretical inve...

In today's world, with the increase in the occurrence of disruptions and risks in organizations, preventing their recurrence or dealing with them has become increasingly important. With the concept of business continuity management, which is an inseparable part of risk management, a solution can be identified and implemented to recover critical processes or prevent long stops and interruptions for organizations. This research aims to identify factors affecting the business continuity value in the pharmaceutical industry, examine the relationships between business continuity management factors and business continuity value, and provide operational solutions based on the BCM assessment framework, focusing on the most important pharmaceutical risks. Business continuity management factors and risks in the pharmaceutical industry were identified using Grounded Theory and Delphi methods. Experts were selected from 5 pharmaceutical companies using the snowball technique to distribute and complete the Delphi questionnaires. The identified factors were confirmed in two Delphi rounds, and the Kendall coefficient was used to reach a consensus among experts. The collected data were analyzed descriptively and inferentially, and the Friedman test was used to examine the ranking of business continuity management factors, and the Spearman test was used to examine the research hypotheses. The BCM assessment framework was also implemented in 5 companies, and its data was examined for all companies. The findings of the Spearman test showed that there is a positive relationship between business continuity management factors and BCV, and an inverse relationship between pharmaceutical risks and BCV. The findings of implementing the business continuity management framework in pharmaceutical companies showed that controlling and reviewing programs and procedures, business continuity planning, business continuity culture, risk management, and resource management are the most important factors in the success of BCM, and the most important pharmaceutical risks are supply chain risk, product quality risk, microbiology risks, and research and development risks. The implementation of the framework in pharmaceutical companies showed that companies with higher BCV values have greater ability to cope with risk and process continuity, and will suffer fewer losses.

Ethics of government officials and the integrity of governance are important for our trust in public administration and democracy. This is one reason why ethics management in organisations is important. Although it has been noted in the literature that knowledge about to what extent ethics management strategies contribute to improved ethics is limited, it is clear that ethics management can have a positive contribution on democratic governance and its fairness, if well crafted.

Tax inspections in Turkey were carried out until 2011 by Inspection Board of Finance, Account Experts Board, Department of Revenue Controllers, and tax auditors under the 29 directorates of tax administration without coordination between them. Subsequently,as a result of bringing together the central tax inspectors and provincial tax auditors who have served within these units under the same umbrella of the Turkish Tax Inspection Board, it is needed to identify the problems and to develop solutions for these problems by revealing the changes and developments in tax inspections related to the institutional structure. The main objective of this study is to identify the problems related to the institutional structure of tax inspections in Turkey and to offer solutions for these problems. In this context, this study was conducted with a qualitative research method. Research data was obtained through semi-structured interviews with a total of 36 participants, consisting of 8 taxpayers, 1...

Carta redigida em favor do Sr. Hélder Uzêda Castro, em referência ao período em que cursou o Doutorado em Desenvolvimento Regional e Urbano na Universidade Salvador (UNIFACS), Brasil, entre os anos de 2016 e 2020, sob a orientação do Professor Emérito Noelio Dantaslé Spinola.

Durante sua trajetória no programa, o Sr. Hélder demonstrou notável dedicação acadêmica, destacando-se pelo excelente desempenho em disciplinas teóricas e metodológicas, pela apresentação de trabalhos em eventos científicos e pela publicação de artigos em periódicos qualificados. Sua formação foi marcada por uma sólida e rigorosa base em pensamento econômico e em análise regional, com ênfase na articulação entre as dimensões histórica e geográfica dos fenômenos urbanos e territoriais.

Cabe ainda ressaltar sua participação em estágio internacional na Universidade Nova de Lisboa, experiência que se revelou fundamental para o amadurecimento de sua perspectiva crítica e interdisciplinar. Posteriormente, o Sr. Hélder concluiu um pós-doutorado na mesma instituição, evidenciando não apenas sua iniciativa pessoal, mas também sua capacidade de dialogar com distintas tradições acadêmicas em contexto internacional.

This study examines the effect of community engagement on crime prevention in Kisii Central Sub-County. The study adopted
a descriptive research design. The dependent variable was crime prevention, while the independent variable was community
policing initiatives, operationalized through community engagement. The study focused on Kisii Central Sub-County,
covering six wards and a target population of 80 stakeholders, including police officers, national government administrators,
and community policing committee members. A purposive sampling technique was used for selecting key security officers,
while a census approach was employed for certain respondents. The research instruments included semi-structured
questionnaires and interviews, which were pre-tested in Masaba South Sub-County to ensure validity and reliability. Data
analysis employed descriptive and inferential statistics, with findings presented in tables, charts, and graphs. Regression
analysis was conducted to examine the relationship between community engagement and crime prevention. The study found
that the model yielded an R-squared value of 0.682, indicating that 68.2% of the variance in crime prevention effectiveness
could be explained by community engagement and related variables. The regression coefficient for community engagement
was statistically significant (β = 0.512, p < 0.05), suggesting a strong positive relationship between community involvement
and crime reduction. Additionally, the study found that ANOVA results further confirmed the model's significance (F = 24.76,
p < 0.05). The study concludes that community engagement is a crucial factor in crime prevention. Effective collaboration
between the public and law enforcement agencies enhances information sharing, strengthens mutual trust, and promotes
proactive measures against criminal activities. It was recommended that community members should be educated on the
importance of participation in crime prevention strategies through targeted campaigns and training workshops. Policymakers
should establish supportive laws and policies that encourage active citizen participation in crime prevention efforts.

The article discusses the role of financial officers and certified public accountants in facilitating and ensuring effective internal controls in nonprofit organizations. Nonprofit boards frequently experience a high turnover of members, and individuals that volunteer are often untrained or unqualified to properly perform the oversight function. Moreover, most small nonprofits are cash based, which can compound any issues or weaknesses present in the control environment

This research paper seeks to articulate how Liberia as a post-conflict nation and a nation visited upon by two global pandemics: Ebola Virus Disease and Covid-19 has demonstrated its resilience and commitment to economic development which has positioned her on the trajectory for enabling a private sector-led development and inclusive growth through medium, small, and micro enterprises (MSMEs) development. As a corollary of the strengthening of the capacity of the Ministry of Commerce and Industry and other related institutions and working in tandem with its international development partners, Liberia has recorded milestone achievements in its private sector development, especially MSMEs. These achievements encompass the development of a policy framework for MSMEs in Liberia, the provision of grants for MSMEs development with aid from donors, the establishment of the Liberia Business Registry and its imminent digitalization to facilitate doing business in Liberia, the enactment of the Small Business Empowerment Act which requires the government to award 25% of public procurement to SMEs, the creation of Special Economic Free Zones, Liberia's accession to the World Trade Organization, and the ratification of the Africa Continental Free Trade Area Agreement. On the flipside, this paper uncovers that access to markets, access to training and access to finance remain the major challenges to the development of MSMEs in Liberia which are the engine for the country's private sector growth and development. To remediate these constraints, this paper recommends the development of specialized training programs to hone the managerial, technical and financial management capacity of the owners and operators of MSMEs, the use of public-private partnerships (PPPs) to boost the growth of MSMEs to optimize the delivery of goods and services, the establishment of development finance institutions (DFIs) to offer specialist financing mechanisms for MSMEs, investment in infrastructural development to build more farm-to-market roads across the country, and improve as well as harness agricultural value chains to promote the growth of agricultural MSMEs in Liberia.

Considering the increasing dependence on artificial intelligence in various fields, including accountability and scrutiny in a wide range, the need to develop internal audit work in economic units has shown by resorting to artificial intelligence applications, and accordingly, this study aims to know the impact of adoption of artificial neurological networks (ANN) in enhancing the level of internal audit quality in Iraqi banks, and to achieve the research goal that has developed a questionnaire of a questionnaire for this The purpose and consisting of pivotal, the first includes 11 paragraphs to measure the role and importance of artificial nervous networks, while the second consists of 12 paragraphs to measure the reality of internal audit in light of the information technology, 417 questionnaires were distributed to auditors and accountants in Iraqi banks listed in the 46 Banks, Data analysis used the descriptive, and factor analysis to ensure the sincerity and stability of the question naive, and as well as the simple linear regression to prove the hypotheses. The findings indicated a negligible correlation of 5.5% between artificial neural networks and the quality of internal auditing, with a significance level of 0.133, much over the permissible threshold of 5% in social sciences. Moreover, utilising neural networks does not compromise the quality of internal auditing.

According to the findings of the majority of past studies, it was clear that one of the problems that modern businesses were currently facing was financial performance and therefore, a budgetary control system was used to handle this issue. This study had two variables: an independent variable (the budgetary control system) and a dependent variable (financial success).

This paper examines the issue of Democratic governance and participatory budgeting in the context of their relevance, challenges and implications for the masses in Nigeria in the context of the public sector finances and spending. It specifically focuses on the Nigerian experience. The necessary interconnectedness among these concepts was identified and examined vis-à -vis the implications of such affinities for the peoples' ability to understand where the ultimate powers over public policies in these respects abound.

Any opinions expressed here are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but the institute itself takes no institutional policy positions. The IZA research network is committed to the IZA Guiding Principles of Research Integrity. The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the intereste...

Despite the significant contribution, it was found that SACCO efficiency in Kenya was broadly declining. This research was
done aiming to determine the impact of firm characteristics on financial performance of select Teachers DT-SACCOs in
Kenya. The explicit objectives were to establish the influence of firm size, capital adequacy and asset quality on financial
performance. The research was underpinned on Market Power Theory, Capital Buffer Theory and Stakeholder Theory which
provided theoretical linkage between the research variables. The research was based on causal research and the target audience
was 181 DT-Savings Credit and Cooperative Societies under SASRA, selecting the 40 of these which are teacher-based and a
sample size of 18 of the teacher-based DT-SACCOs was studied. The research came to a conclusion that Asset Quality had a
significant effect on financial performance. Capital Adequacy had a positive correlation with changes in financial
performance. (ROA) at 95% confidence level (Sig=0.00). Moreover, firm's size was found to have a minimal impact on the
financial health of Teachers DT-SACCOs at a 5% significance level. It was recommended that DT-SACCOs be encouraged to
maintain an average low ratio between NPLs and total loans, based on the study's asset quality findings. To ensure that DT
SACCOs consistently achieve capital adequacy ratios, thus protecting members' investments and promoting the growth of
SACCOs, the research further recommends that: The board and management of DT-SACCOs should explore methods for
issuing surplus capital to both prospective and current members. Furthermore, DT-SACCOs would significantly benefit from
adjusting their dividend payout ratios. A one percentage decrease in dividend payout would markedly enhance the institutional
capital of the SACCO. SASRA should establish vetting criteria for the recruitment of proficient managers capable of
positively impacting the Society's strategy and direction towards augmented retained earnings. Additionally, SASRA can
improve oversight of DT-SACCOs and escalate penalties for non-compliance with capital adequacy ratios. The regulator,
SASRA, mandates that Saccos must maintain a minimum institutional capital ratio to safeguard members’ savings and ensure
operational stability. In addition to institutional capital, other key financial ratios have also seen a sharp decline, signaling
wider financial challenges for Sacco.

The study sought to determine the effect of developing managerial skills of group members on the growth of women-owned
enterprises in Uasin Gishu County. The study was anchored on pecking order theory. The study adopted a descriptive research
design and positivist philosophy. The target population was 1198 enterprise owners courtesy of table banking from six sub
counties in Uasin Gishu County. The population was stratified into 6 stratas corresponding to the 6 sub-counties. The study
used Israel’s 1992 formula to determine the sample size of 333 women owning enterprises from all 6 sub-counties. The sample
was apportioned proportionately to the 6 sub-counties. Simple random sampling was used to pick the specific respondents
from each sub-county. Primary data was collected using structured questionnaire. A pilot study was conducted on 33
respondents from 11 women-owned enterprises in Nakuru County to test the reliability of the questionnaire. Both descriptive
and inferential statistics were used in data analysis. Data was presented in the form of tables and graphs. The study concluded
that there was a positive and statistically significant correlation between the developing managerial skills of group members
and the growth of women-owned enterprises in Uasin Gishu County (r=0.985; p<0.05). From the conclusion the study
recommended that women-owned enterprises in Uasin Gishu County should invest in structured and continuous managerial
skills development programs for group members. This can be achieved through targeted training sessions, workshops, and
mentorship programs focusing on essential managerial competencies such as financial management, strategic planning,
leadership, marketing, and resource optimization. Additionally, table banking groups should incorporate mandatory
managerial skills training as part of their group activities to ensure all members benefit from the knowledge necessary to
enhance enterprise growth.

The purpose of the study was to determine the effect of business financing on the growth of women-owned enterprises in
Uasin Gishu County–Kenya. The study was anchored on the pecking order theory. The study adopted a descriptive research
design and positivist philosophy. The target population was 1198 enterprise owners courtesy of table banking from six sub
counties in Uasin Gishu County. The population was stratified into 6 strati corresponding to the 6 sub-counties. The study used
Israel’s 1992 formula to determine the sample size of 330 women owning enterprises from all 6 sub-counties. The sample was
apportioned proportionately to the 6 sub-counties. Simple random sampling was used to pick the specific respondents from
each sub-county. Primary data was collected using close-ended questionnaire. A pilot study was conducted on 33 respondents
from 11 women-owned enterprises in Nakuru County to test the reliability of the questionnaire. Both descriptive and
inferential statistics were used in data analysis. Data was presented in the form of tables and graphs. The study concluded that
there was a moderate positive and statistically significant correlation between business financing and the growth of women
owned enterprises in Uasin Gishu County. To enhance the growth of women-owned enterprises in Uasin Gishu County,
financial institutions should develop tailored financing products with reduced interest rates, flexible repayment terms, and
minimal collateral requirements. Additionally, women entrepreneurs should be empowered through financial literacy training
to improve their budgeting, financial management, and loan application skills. Strengthening table banking groups as
intermediaries can also improve resource pooling and access to favorable financing terms.

specializing in upper echelon team efficacy. Her works have been published and cited in both academic and practitioner journals including The International Journal of Disclosure and Governance, Academy of Management, Harvard Business Review (HBR.org), The Corporate Board Magazine, The Agenda, Forbes.com and The LATimes. Her research has won Best Paper awards at academic conferences. She has over 25 years of consulting and C-suite-level experience with organizations across all industries, maturities and sizes. She has served as a board director in both public and private for-profit organizations and is a certified Team Coach.

Of the more than one-third of US fi rms rated low in corporate governance (GMI), most (86 per cent) have underperforming boards -a cause of considerable concern given growing evidence of a positive relationship between fi rm governance and fi nancial performance. Most governance research has focused on board demographics to explain governance quality, but we answered a call -refl ecting a surge of recent work on teamwork in contexts -for empirical inquiry of the sparsely researched link between board dynamics and governance. Semi-structured interviews with 23 board directors of the United States publically traded small and medium sized enterprises (SMEs) with high and low independently-attributed governance ratings and analysis of fi nancial performance data of the fi rms they serve revealed surprising differences between the two groups with respect to how they recruit directors, manage confl ict both in and beyond the formal boardroom and deal with deviant director behavior -factors, our results suggest, that affect both board stability and performance. We interpreted our results referencing sociologist Erving Goffman ' s classic dramaturgical framework of ' self-presentation in everyday life ' , discovering in the vivid narratives of board directors evidence of how tacit social norms govern behavior in frontstage (boardroom) and backstage (extra-boardroom) member interaction. Directors are commonly selected to join boards based on their professional capital, but are seldom screened for understanding and appreciation of appropriate behavior inside and outside the boardroom or ability and willingness to address affective confl ict in either realm. Directors insensitive to differences between ' front stage ' and ' back stage ' behavior, however, may suffer diminished individual performance and tenure on boards and weaken board effectiveness. High governance-rated organizations appear to have a lower tolerance for aberrant director behavior and a stronger inclination to address and resolve affective confl ict than low-rated fi rms. Our results have implications for both practice and future research. Only 1 of the 22 fi rms (4.5 per cent) in our sample screened candidate directors for behavioral competencies. Failure to do so, our fi ndings reveal, may result in higher levels of affective confl ict inside and outside the board-

Universities are under pressures from every direction, from reduced government funding to expectations by students and parents to deliver ever-higher quality services in their financial management for accountability purposes. Universities have therefore embarked on implementing Financial Management Systems (FMS) that tracks financial events, summarises financial information and supports adequate management reporting, policy decisions, fiduciary responsibilities and the preparation of auditable financial statements. The purpose of this study was to find out the effects of Business Process Re-engineering (BPR) on implementation of FMS in Kenyan public Universities. A conceptual framework was developed having independent variables as Business Process Re-engineering factor, depended variable as the successfully implemented FMS and moderating variable as compatibility of the financial management modules forming the FMS (fig. ). The research design used was descriptive survey design. The target population was, 115 staff drawn from five functional areas (within finance department) of Masinde Muliro University of Science and Technology. The sample consisted of 60 staff members drawn from five areas with each stratum of 12 members randomly selected. Questionnaires and interview schedules were used as research instruments. Analysis and discussion of data collected was done using correlation and descriptive statistics leading to drawings of summaries and conclusions. The study findings revealed 85% of implementation of FMS is accounted for by integration of general ledger module, budgetary accounting, accounts payable, accounts receivable and payroll systems.

In recent years, the demand for receiving, processing and managing information flows and documents of administrative units, state agencies and enterprises in Vietnam is very high. This task requires timely and accurate resolution time with the efficient and effective support of information technology systems. Therefore, the application of management information systems has given organizations and enterprises a continuous and accurate control and management of internal information, thus helping managers make decisions. Accurate, accurate, optimistic and increase work efficiency. They contribute to the operation of the business goes into order.Application of management information systems in enterprises is always a concern because IT plays a very important role in economic activities, business production, sales, trade promotion, business management. .However, there are still many issues surrounding the application.The problem is: Actual state of and Trend in the application of informa...

This study was conducted to investigate the nature of administrative discretion in Uganda, examining its scope, legal framework, impact on governance, and its role in ensuring efficient public administration. Administrative discretion refers to the authority granted to public officials, especially in administrative agencies, to make decisions within the scope of their powers and in line with legal provisions. In Uganda, administrative discretion is crucial for the implementation of policies and the execution of public functions. However, while it enables flexibility in decision-making, it also raises concerns about accountability, fairness, and potential abuse. Through in-depth interviews, doctrinal research and empirical analysis, this study involving 60 respondents (public officials, legal experts, and citizens) evaluated how administrative discretion is exercised in Uganda, its legal boundaries, and the mechanisms in place to prevent abuse and ensure accountability. The study findings suggested that, while administrative discretion is essential for effective governance, its unchecked use poses significant risks to fairness, justice, and the protection of human rights. This research consequently offers recommendations for legal and institutional reforms to ensure that administrative decisions are made in accordance with the rule of law and respect for fundamental rights.

A life of dignity is the right of every citizen. Poverty is an obstruction to a dignified life. Self-employment is a significant step to have sustained incomes and remove the shackles of poverty. Programme for self-employment of the poor has been an important component of the anti-poverty programmes implemented through government initiatives in the rural areas of the country. More studies reviewed on alleviation of poverty and said, at a time it is not possible to alleviate, but it is possible step by step. But these studies stressed on empowering rural women only but not urban women. From education point of view, the urban women are little bit far better than rural women. It is acceptable and easy to empower educated women. The present study concentrated on urban areas where some educated women are living. This kind of specific micro level studies are very scanty. Hence, this study has been undertaken.

The rapid growth of digital financial services has brought numerous benefits, still it has also given rise to new and sophisticated forms of fraud, posing significant threats to privacy, security, and consumer trust. This paper explores emerging trends in digital fraud, focusing on three major areas, malicious applications, exploitative loan financing, and payment manipulation. Malicious applications, often disguised as