Internal Control Environment and Financial Accountability of Savings and Credit Cooperatives in Mid-Western Uganda

Abstract

Purpose: To test the association between internal control environment and financial accountability of SACCOs in Mid-Western Uganda. Methodology: The study adopted a cross-sectional research design and positivist paradigm to gather data from 93 SACCOs in Mid-Western Uganda using a closed-ended questionnaire. Data was analyzed using the standard linear regression. Findings: The study depict a strong positive significant association relationship between internal control environment and financial accountability of SACCOs in Mid-Western Uganda. Unique Contribution to Theory, Practice and Policy: The high level of transparency and value for money can be achieved if management puts into place effective internal control environment if SACCOs are to realize a high level of transparence and value for money.