Noble International Journal of Economics and Financial Research


Online ISSN: 2519-9730 | Print ISSN: 2523-0565

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    Volume 6 Number 1 January 2021

Effects of Internal Audit Function on Financial Performance in Rift Valley Bottlers Limited Eldoret, Kenya

Pages: 15-32
Authors: Dr. Gedion A, Omwono*, John mark Wanyama
Abstract
The purpose of this study was to investigate effect of internal audit function on financial performance of Rift Valley Bottler’s Limited, Eldoret. The researcher seeks to answer the following  research questions: what is the effect of internal audit function on financial performance at Rift valley bottlers?; what is the effect of risk management on financial performance of Rift valley bottler’s limited Company?; what is the effect of budgetary controls on financial performance of Rift Valley bottler’s limited company?; and what is the effect of financial accountability on financial performance of Rift Valley bottler’s limited company?. This study adopted descriptive cross-sectional research design. With a sample size of 40 from finance, human Resource and procurement departments. Census sampling technique was used to select respondents. Questionnaire was used as data collection instrument. Quantitative analysis was used in analyzing of data. Multiple regression analysis was used to show the relationship between independent and dependent variables. This study found out that budgetary control affects financial performance of Rift Valley bottler’s limited company (p=0.004). this study further asserted that financial accountability affects financial performance of Rift Valley bottler’s Limited Company (p=0.005). This study concludes internal audit function affects financial performance of Rift Valley Bottler’s Limited company. This study recommends organizations like Rift Valley Bottlers to always practice internal auditing of their creditors and this will improve on their financial performance; organizations should always conceive and adhere to the internal audit function in a positive way as it is communicated by employees and follow their contents in the day to day running of the organization activities; and  training of employees in Rift Valley Bottlers as important motivational tool for motivating employees towards better performance.

ICT and its Impact on the Financial Development of the Banking System

Pages: 08-14
Authors: Arash Ketabforoush Badri
Abstract
In recent years, significant efforts have been made in many developing countries to use ICT. They are trying to expand their activities by balancing the revenue allocated to this sector so that they can quickly catch up with developed economies. In fact, the adoption of ICT policies is one of the most important programs for governments in most developing countries today. The banking system is also of special importance in this regard. Thus, having a dynamic and active banking system can help countries achieve their goals. Due to this, the purpose of this study is to investigate the effects of information and communication technology on the financial development of the banking system of 17 developing countries in the period 2008 to 2018 using the data panel method. The results indicate that information and communication technology, economic openness, financial globalization and the quality index of legal institutions have a positive effect and the size of the government has a negative impact on the financial development of the banking system in the countries under study.

Effects of Foreign Exchange Crisis on the Performance of Manufacturing Sector in Nigeria

Pages: 01-07
Authors: Dr. Marshal Iwedi
Abstract
The study examined the effect of foreign exchange crisis on the performance of manufacturing sector in Nigeria over the period of 35 years ranging from 1985 to 2019. The study proxy foreign exchange crisis by exchange rate of U.S to Nigeria, trade openness and foreign direct investment while performance of manufacturing sector was measured by manufacturing sector gross domestic product. Time series were used and sourced from central bank of Nigeria statistical bulletin for 2019. Ordinary least square (OLS) technique of regression was used to analyze the data. The R-square, T-statistics and F-statistics were used to determine the extents to which the explanatory variables affect the explained variable. The hypotheses formulated were tested at 5% level of significance using t-test. The results reveal that foreign exchange rate has a negative and significant effect on manufacturing sector GDP in Nigeria. Trade openness has a positive and significant effect on manufacturing sector performance while foreign direct investment has a positive and significant effect on manufacturing sector GDP in Nigeria. The study concluded that foreign exchange crisis plays a significant negative role in the performance of manufacturing sector in Nigeria. The study recommended that there should be pursuance of sustainable and stable exchange rate policy and to put in place, measures that will promote greater exchange rate stability.

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