Assessment of the effectiveness of internal control system in Letshego Uganda Limited

Abstract

The study aimed to assess the effectiveness of internal controls in Letshego Uganda Limited specifically looking at asset safety, development and communication of policies and procedures, and assessing controls on preparing appropriate financial records. The research adopted an evaluative cross sectional survey design. Data was collected using questionnaires that were administered in a non-contrived setting. Management and other staff were used as respondents comprising a population of 50 staff. A quantitative approach was conducted and Data was analyzed using the statistical package for social scientists to derive descriptive statistics. The results indicated that internal controls in Letshego Uganda were moderately satisfactory. However, the study recommended that management should not be complacent about the findings but work hard to ensure continuous ongoing and separate monitoring by adhering to the internal control best practices indicated in Chapter 5

Key words: Internal control best practices, Management, Letshego Uganda Limited