The Influence of Integrated Financial Management Information System on Timely Financial Reporting in the National Sub County Treasuries in Nyanza Region, Kenya
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Date
2019Author
Nyamboki, Isabella S
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
IFMIS as an automated system of information it facilitates tracking of events of
financial nature, summarization of information, which actually leads to timely
financial reporting, fiduciary responsibilities, timely decision-making on policy
issues, and preparation of reliable financial reports.. The National Treasury adopted
IFMIS in Kenya in 1998 and later in 2003 launched in other line ministries. Whereas
Financial reports aim to improve budget compliance and provide a means for internal
or external actors to asses government performance. IFMIS improves financial
controls by availing reliable and timely financial information. .A more detailed IFMIS
gives accurate, timely, consistent and relevant financial information for the purpose of
management and decision making functions.Public Finance Management practices
have been characterized by challenges in revenue collection, lack of transparency and
accountability in the national and county governments. It has been observed that
accurate financial position both at individual reporting level and government wide
level was not possible within IFMIS due to the prevalent use of manual cash books
and asset management was in manual system thus making it difficult to produce
timely financial reports within the IFMIS and more so IFMIS servers are hosted in a
shared data center managed by government information technology services, which
have no proper financial controls and physical security on the data center, such as
surveillance systems. There have been increasing allegations of misappropriations and
untimely financial reporting on public resources despite the existence of IFMIS. The
objective of the study was to determine the influence of IFMIS on timely financial
reporting in National Sub County Treasuries in Nyanza Region,Kenya. To achieve
this objective, the study was guided by one objective; to determine the influence of
IFMIS on timely financial reporting in National Sub County Treasuries in Nyanza
Region,Kenya. The research adopted descriptive survey and it targeted 45 National
Sub County Treasuries in Nyanza Region, Kenya. The data collection was through
the questionnaire and data capture form for secondary data. The spss was key in the
analysis of data. The findings from the study were presented by use of Figures,Tables,
Means, and standard deviations.established that with all 3 independent variables taken
into consideration and constant at Zero, timely financial reporting performance will be
at 71.228. The findings further show that taking all the other independent variables at
zero, Reliability and compatibility of IFMIS would be the highest strategy at 28.527
to positively influence the Timely financial reporting while the lowest independent
variable to influence timely financial reporting would be IFMIS Infrastructure at
10.165.The findings also imply that a unit increase in IFMIS Infrastructure would lead
to 10.165 increase in timely financial reporting. A unit decrease in IFMIS Internal
Control would lead to -20.132 decrease in timely financial reporting. Hence the need
for the government to invest in latest technology systems that would influence timely
financial reporting in National Sub County Treasuries, in Nyanza Region, Kenya and
unto the rest of the regions in Kenya.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
- School of Business [1411]
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