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FACTORS AFFECTING IMPLEMENTATION OF VALUE FOR MONEY AUDITING AT CITY COUNCIL OF NAIROBI
 

Evans O. Bosire
Executive Masters in Business Administration, Jomo Kenyatta University of Agriculture and Technology.

Patrick Karanja Ngugi (PhD)
Associate chairperson EPD, Jomo Kenyatta University of Agriculture and Technology.
 

ABSTRACT

Value for money auditing is a recent expansion in the scope of auditing. None of the local and international studies reviewed has been done on the factors that affect the implementation of VFM auditing in the Kenyan context. This study therefore sought to explore the factors affecting the implementation of value for money auditing in the City Council of Nairobi. The attainment of value for money in the procurement and provision of services is now a global, corporate pursuit with increasing complexity and sophistication. The objective of this study was to determine the factors affecting the implementation of value for money auditing in the City Council of Nairobi. Specifically, the study reviewed four variables i.e. staff training, ICT, misuse of funds and government policy. Stratified proportionate random sampling technique was used to select the sample of 35 respondents of the City Council of Nairobi from their various levels of employment, that is, the top, middle and low level management. Primary data was gathered using semi-structured questionnaires where the respondents were issued with the questionnaires. The questionnaires were self-administered. The questionnaires were distributed among the sampled employees employed by the City Council of Nairobi. Secondary data was gathered from past published scholarly articles explaining theoretical and empirical information on the factors affecting the implementation of value for money auditing. Quantitative data collected was analyzed by the use of descriptive statistics using SPSS and presented through percentages, means, standard deviations and frequencies. A multivariate regression model was applied to determine the relative importance of each of the four variables with respect to the implementation of VFM auditing. The information was presented by use of bar charts, graphs and pie charts and in prose-form. Content analysis will be used to test data that is qualitative in nature collected from the open ended questions. The study had a response rate of 88.5%. The study found out that staff training affects value for money auditing at the City Council of Nairobi to a great extent. The study also found out that funding, misuse of funds and government policy affects value for money auditing. The study recommends the management of the City council of Nairobi to ensure the audit team has a good understanding of the concept of comprehensive auditing and also possesses knowledge of the fundamentals, elements and phases of value-for-money auditing.


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