Volume 4, Number 1


Internal controls and financial performance of banks in Uganda. Case study: Post Bank Uganda
Sempebwa, B., Kyagulanyi, R. and Nimusiima, M.K.

The study set out to establish the effect of internal controls on the financial performance of banks in Uganda using Post Bank as a case study.

The study adopted both qualitative and quantitative approaches and employed correlational, cross-sectional survey designs. The sample size was 50, but only 36 respondents returned the questionnaire.

The research findings indicated that the internal Audit function, the board’s Audit Committee, written policies and procedures, and clear division of the responsibilities of middle to top managers are all important and affect the financial performance of Post Bank. If all are emphasized, financial performance can be enhanced. The study recommends that financial controls should be regularly updated to cope with the changing environment, the board’s Audit Committee should be competent enough to supervise and regulate internal control policies and procedures, and written policies and procedures should be effectively implemented.

Keywords: Financial Performance; Control Policies and Procedures; Financial Controls