Department of Economics and Energy

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Browsing Department of Economics and Energy by Author "Kiyegga, Stephen"

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    An Evaluation of the Internal Control Environment at Stabex Fuel Stations in Central Uganda.
    (2023) Kiyegga, Stephen
    The study sought to examine the internal control environment at Stabex fuel stations in central Uganda and addressed the challenges of the internal control environment of the fuel stations. The objectives that guided the study included; to assess the existing internal control environment at Stabex fuel stations; to examine the deficiencies in the internal control environment at Stabex fuel stations; and to identify solutions for the deficiencies in the internal control environment at Stabex fuel stations. A cross sectional design was adopted for the study and from a population of 172 respondents, a sample size of 141 was selected using purposive sampling and simple random sampling. A self-administered questionnaire was used to collect data from the respondents and the data was analyzed using the Statistical Package for Social Sciences (SPSS V22). The findings showed that the level of the internal control environment at the stations in regard to internal control environment, financial control environment, information and communication systems, monitoring and audit functions, health, environment and safety, and inventory management was moderate. This requires Stabex to find ways of improving the internal control environment at the stations. This is validation that there existed some level of internal control environment management at the stations. This is because internal control environment management provides an arena where the stakeholders of Stabex can help the stations become effective. The findings revealed that the challenges in managing the internal control environment were inadequate internal control procedures and measures, unethical behaviour of staff, poor employee compensation/remuneration, inadequate fraud control and prevention, and unnoticed misconduct among others. The management of Stabex should therefore identify the causes of these challenges and devise ways of addressing them as this would greatly impact on the effectiveness and efficiency of the internal control environment at the stations in the long run. The study therefore recommends that the management of Stabex should draw adequate attention to ensure the effective and efficient operations of cash controls, inventory management, compliance with regulations, internal auditing, access controls, employee training, surveillance and monitoring, reporting and communication channels, fraud prevention measures, risk management, adherence to standard operating procedures, supervision and oversight, and continuous improvement.