A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018

Mbonigaba Celestin

doi:doi:10.11648/j.sjbm.20190705.13

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A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018

Mbonigaba Celestin

Received: 21 August 2019 Accepted: 12 October 2019 Published: 23 October 2019

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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.

DOI	10.11648/j.sjbm.20190705.13
Published in	Science Journal of Business and Management (Volume 7, Issue 5, October 2019) This article belongs to the Special Issue Transformation in Management
Page(s)	120-126
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Financial Audit, Compliance & Performance Audit, Audit Opinion, Implementation of OAG Audit

References

[1]	Diamond, J. (2002), The Role of Internal Audit in Government Financial Management: An International Perspective, IMF Working Paper No. 02/94.
[2]	Law no 79/2013 of 11/09/2013 determining the mission, organization and functioning of the Office of the Auditor General of State Finances.
[3]	Ali, A. Gloeck, J. D. Ali, A. Ahmi, A. & Sahdan, M. H. (2007), ‘Internal audit in the state and local governments of Malaysia,’ Southern African Journal of Accountability and Auditing Research, Vol. 7 73-29.
[4]	Asare, T. (2008), A Study of the Role of Internal Auditing in the Public Sector of Ghana: Governance and Accountability, M. Sc. Dissertation, Birmingham City University Business School, Birmingham, United Kingdom.
[5]	Baltaci, M. & Yilmaz, S. (2006), Keeping an Eye on Subnational Governments: Internal Control and Audit at Local Levels, World Bank Publications, pp. 7-15.
[6]	Glass, R. (2005), The Relationship Between Internal and External Audit in the Public Sector, Presentation to the IIA New Zealand Conference 21-23 November 2005.
[7]	Griffiths, D. (2006), Risk-based internal auditing - An introduction, available at www.internalaudit.biz (August 21, 2019).
[8]	Institute of Internal Auditors (2006a), The Role of Auditing in Public Sector Governance, Altamonte Springs, FL, Institute of Internal Auditors.
[9]	OECD (1996), Performance Auditing and the Modernization of Government, Paris Weariness Performance or Compliance? Performance Audit and Public Management in Five Countries, Oxford, Oxford University Press, pp. 31-56.
[10]	Institute of Internal Auditors (2006b), Organizational Governance: Guidance for Internal Auditors, Altamonte Springs, FL, Institute of Internal Auditors.
[11]	Pollitt, C. & Summa, H. (1997), ‘Trajectories of Reform: Public Management Change in Four Countries’, Public Money and Management, Vol. 17, No. 1, pp. 8-18.
[12]	Report of the Rwanda Auditor General of state finances for the year ended 30 June 2014.
[13]	Report of the Rwanda Auditor General of state finances for the year ended 30 June 2015.
[14]	Report of the Rwanda Auditor General of state finances for the year ended 30 June 2016.
[15]	Report of the Rwanda Auditor General of state finances for the year ended 30 June 2017.
[16]	Report of the Rwanda Auditor General of state finances for the year ended 30 June 2018.
[17]	Barzelay, M. (1996), ‘Performance Auditing and the New Public Management: Changing Roles and Strategies of Central Audit Institutions in OECD’, Performance Auditing and the Modernization of Government, Paris.

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Mbonigaba Celestin. (2019). 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, 7(5), 120-126. https://doi.org/10.11648/j.sjbm.20190705.13

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ACS Style

Mbonigaba Celestin. A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018. Sci. J. Bus. Manag. 2019, 7(5), 120-126. doi: 10.11648/j.sjbm.20190705.13

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Mbonigaba Celestin. A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018. Sci J Bus Manag. 2019;7(5):120-126. doi: 10.11648/j.sjbm.20190705.13

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@article{10.11648/j.sjbm.20190705.13,
  author = {Mbonigaba Celestin},
  title = {A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018},
  journal = {Science Journal of Business and Management},
  volume = {7},
  number = {5},
  pages = {120-126},
  doi = {10.11648/j.sjbm.20190705.13},
  url = {https://doi.org/10.11648/j.sjbm.20190705.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20190705.13},
  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.},
 year = {2019}
}

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TY  - JOUR
T1  - A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018
AU  - Mbonigaba Celestin
Y1  - 2019/10/23
PY  - 2019
N1  - https://doi.org/10.11648/j.sjbm.20190705.13
DO  - 10.11648/j.sjbm.20190705.13
T2  - Science Journal of Business and Management
JF  - Science Journal of Business and Management
JO  - Science Journal of Business and Management
SP  - 120
EP  - 126
PB  - Science Publishing Group
SN  - 2331-0634
UR  - https://doi.org/10.11648/j.sjbm.20190705.13
AB  - 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.
VL  - 7
IS  - 5
ER  -

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Author Information

Mbonigaba Celestin

Business and Development Studies, Kibogora Polytechnic, Nyamasheke, Rwanda

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APA Style

Mbonigaba Celestin. (2019). 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, 7(5), 120-126. https://doi.org/10.11648/j.sjbm.20190705.13

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ACS Style

Mbonigaba Celestin. A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018. Sci. J. Bus. Manag. 2019, 7(5), 120-126. doi: 10.11648/j.sjbm.20190705.13

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AMA Style

Mbonigaba Celestin. A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018. Sci J Bus Manag. 2019;7(5):120-126. doi: 10.11648/j.sjbm.20190705.13

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@article{10.11648/j.sjbm.20190705.13,
  author = {Mbonigaba Celestin},
  title = {A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018},
  journal = {Science Journal of Business and Management},
  volume = {7},
  number = {5},
  pages = {120-126},
  doi = {10.11648/j.sjbm.20190705.13},
  url = {https://doi.org/10.11648/j.sjbm.20190705.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20190705.13},
  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.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018
AU  - Mbonigaba Celestin
Y1  - 2019/10/23
PY  - 2019
N1  - https://doi.org/10.11648/j.sjbm.20190705.13
DO  - 10.11648/j.sjbm.20190705.13
T2  - Science Journal of Business and Management
JF  - Science Journal of Business and Management
JO  - Science Journal of Business and Management
SP  - 120
EP  - 126
PB  - Science Publishing Group
SN  - 2331-0634
UR  - https://doi.org/10.11648/j.sjbm.20190705.13
AB  - 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.
VL  - 7
IS  - 5
ER  -

Copy | Download