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Discuss Shortcomings facing management of special funds in terms of accountability and stewardship in Kenya

Discuss Shortcomings facing management of special funds in terms of accountability and stewardship in Kenya.

Answers

Maxine
Shortcomings facing management of special funds in terms of accountability and stewardship in Kenya;
1.Poor record keeping
Lack of proper records makes it difficult to track the activities of an organisations.
2.Lack of good internal controls
3.Dishonesty.The accountant are the stewards of the share holders assets,their professional ethics require them to be always honest at all cost.If they choose to be dishonest then the management the credibility of there reporting is lost.
4.Poor skills and lack of experience
Lack of required skills buy the management staff and lack of experience in given failed will always bring poor results.
5. Intimidation threat
This is where the senior management staff uses there powers to intimidate the junior staff hence making them do things there way but not the right way for personal benefit.
6. Familiarity threat
7.Lack of proper reporting systems.
8.Poor remuneration of the staff involved in management and accounting for the special fund.
9.Organisational culture.An organisation is the way things are done in an organisation that does not have a good organisation culture to have accountability problems.
10.Lack of clear budget.
11.Poor observation of budget lines

mkajuju answered the question on February 15, 2018 at 09:13

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