A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018
Science Journal of Business and Management
Volume 7, Issue 5, October 2019, Pages: 120-126
Received: Aug. 21, 2019; Accepted: Oct. 12, 2019; Published: Oct. 23, 2019
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Author
Mbonigaba Celestin, Business and Development Studies, Kibogora Polytechnic, Nyamasheke, Rwanda
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Abstract
The study intends to be a result based experimental analysis of Rwandan financial progress as a result of office of auditor general (OAG)’s audit with Reference from 2014 to 2018. The objective of the study was to analyze the financial effectiveness of Rwanda as result of status of OAG audit recommendations. The Research Methodology used was both qualitative and quantitative methods to achieve the research objective, the secondary data were collected and then analyzed through Spreadsheet and SPSS 20 tools. The result of the analysis noted that boards and government business enterprises (GBEs) in general have been predominantly getting adverse opinion in the last 3 years. However, there was a notable improvement for Rwanda development board (RDB), Rwanda biomedical center (RBC) and Rwanda transport development agency (RTDA). Regarding to unnecessary or unlawful expenditures, and whether there was embezzlement or squandering of public funds, there has been 68% decline in the Article 166 type of expenditure from Frw 17.6 billion (2016) to Frw 5.68 billion (2018). The biggest decline has been under “Unsupported expenditure” which has declined by 92% from Frw 6.9bln (2016) to Frw 0.6 billion (2018). Therefore, this is indicative of an improvement in public financial management (PFM) systems and controls when it comes to recording and accounting for expenditure.
Keywords
Financial Audit, Compliance & Performance Audit, Audit Opinion, Implementation of OAG Audit
To cite this article
Mbonigaba Celestin, A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018, Science Journal of Business and Management. Special Issue: Transformation in Management. Vol. 7, No. 5, 2019, pp. 120-126. doi: 10.11648/j.sjbm.20190705.13
Copyright
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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