An analysis of factors affecting financial control in the Ministry of Land Reform
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Date
2019
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Publisher
University of Namibia
Abstract
The research focused on analysing factors affecting financial control using the Ministry
of Land Reform’s Windhoek head office as a case study. It sought to satisfy the following objectives: To investigate reasons for non-compliance with the State finance Act in the Ministry of Land Reform; To identify strategies to enhance the effectiveness of financial control in the ministry of Land Reform and; To examine ways of monitoring financial transactions within the ministry. Literature which informed this study was reviewed from current sources not more than 10 years old where gaps of what remains to be investigated were identified. The researcher used literature review to demonstrate where past researchers agreed or disagreed and used identification of research methodologies used to find a unique methodology or research sample that would assist in substantiating the findings of those past researchers. A qualitative research methodology was used over the total thirty (30) finance department staffs to solicit their perceptions on the research topic using an interview guide as a research instrument. The research made use of both secondary and primary data sources and used logistic regression technique to test the validity of the stated research hypotheses. Demographic analysis was done in tabular form to find out the real demographics within the finance department of the Ministry of Land Reform. Major findings included the problem of understaffing in the internal audit function, independent of internal auditors which increased audit risk within the ministry and also the mismatch of financial department positions and qualifications held. The registration with professional bodies by finance staff was still at its infancy which was again a disturbing phenomenon which affected financial control initiatives. The research ends with summarised research findings as well as research conclusions the researcher arrived at. The research recommends that the Ministry should have stand-alone internal audit department strengthened by the audit committee and auditing software. The financial control needs to be strengthen by seek continually improvements to keep up with technological changes and recruiting sufficient staff members specialised in different specialisation , finance staff members to be given training on regular bases, the finance staffs to be encouraged to register with professional bodies and the Ministry should give attention to financial monitoring. Finally the study recommend financial risk management in public sector organisation, cost-benefit analysis of financial control in Namibia and auditing and financial control in Namibia’s public sector as a research areas for future researchers.
Description
A thesis submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration-Finance
Keywords
Financial control