Internal control system, managerial competence and management of public funds in National Social Security Fund

Abstract

The study was conducted to examine the relationship between internal control system, managerial competence and management of public funds in NSSF. Examination of the internal control system was as well done. A cross sectional, correlational and regressional survey designs were used for to examine information, evaluating the internal control system and analyzing the relationship between internal control system and management of public funds, managerial competence and management of public funds and internal control system and managerial competence. Findings of the study indicated that the internal control system was ineffective, there was a significant positive relationship between internal control system and management of public funds, there was a significant positive relationship between managerial competence and management of public funds and the relationship between managerial competence and internal control system was also significant and positive. NSSF management has highly mismanaged public funds and has made a lot of losses. CCSASE should therefore enforce rules and regulations and frequently visit NSSF for checks and balances in order to save workers from losing their savings.