TY  - BOOK
AU  - Kariuki, Peter.
AU  - Lukandu, Ismail Ateya. (Prof)
TI  - An examination of internal control practices in small and medium enterprise restaurants in Nairobi central business district, Kenya
AV  - TX911.3.K37 2016 
PY  - 2016///
CY  - Nairobi, Kenya
PB  - Strathmore University
N2  - Effective implementation and maintenance of internal control drives business performance and prevents business failure. Internal controls objectives include safeguarding business assets, ensuring financial information is accurate and reliable, ensuring compliance with all financial and operational requirements, and contributing to achieving the business’s objectives (COSO, 2012). The objectives of this study were to review Internal Control frameworks and Practices in Small and Medium Enterprise Restaurants, review impact of ineffective Internal Controls, examine the extent to which internal controls are practiced amongst SME Restaurants in Nairobi Central Business District, Kenya and recommend an Internal Control framework that minimizes the negative impact of ineffective controls. The literature review was based on theoretical foundation of the study, internal controls frameworks and internal control practices in SME restaurants in Nairobi CBD. Exploratory survey was used to collect both primary and secondary data. The target population of the study was SME restaurants in Nairobi CBD. A questionnaire and face to face interviews were used to collect data. Summaries of data findings together with their possible interpretations were presented using tables, charts, percentages, frequencies, multiple regression and correlation. This was a cross sectional study. The outcome of the study identified various control aspects that are not comprehensively practiced by 30% - 40% of SME restaurants in Nairobi in the area of sales management, cash receipts purchases, receiving and storing supplies, production as well as fraud and human resource management. A total of 33 components were used to review the effectiveness of existing controls in these seven core areas of restaurants operations and the outcome of the findings informed the proposed Internal Control Framework. The proposed framework was divided into three areas, framework support with 12 components, core activities with 33 components and post implementation review with 6 components making a total of 51 components in the proposed framework. A correlation between internal controls and restaurant objections was also established giving credence to the importance of having effective controls to achieve business goals
UR  - https://su-plus.strathmore.edu.ezproxy.library.strathmore.edu/handle/11071/5673
ER  -