Effect of Financial Control on Accountability Performance in Public Institutions in Rwanda. A Case of Rwanda Social Security Board (RSSB), Pension Scheme Branch
DOI:
https://doi.org/10.53819/81018102t2328Abstract
institutions in Rwanda, focusing on the Rwanda Social Security Board's (RSSB) pension scheme branch. The research is guided by the overarching objective of assessing the relationship between financial control measures, such as budgetary control, accounting control, and liquidity, and accountability performance within the Rwandan public sector context. Study Objectives were to assess the effect of budgetary control on accountability performance in RSSB, pension scheme branch, to determine the effect of accounting control on accountability performance in RSSB, pension scheme branch and to analyze the effect of liquidity on accountability performance in RSSB, pension scheme branch. The study employed a mixed-methods approach, integrating quantitative and qualitative methodologies. The quantitative phase utilizes surveys, structured questionnaires, and financial data analysis to quantify variables and examined statistical relationships. This comprehensive approach ensures a nuanced understanding of the dynamics at play. This study conducted on 963 as employees of Rwanda Social Security Board, among whom a sample size of 283 respondents selected, in addition to 15 staff of internal audit Unit, to respectively answer to questionnaire and interview for a descriptive, regression and correlation analysis, with the help of SPSS computer packages. Cronbach’s Alpha coefficient, assessing the reliability of data collection instruments, yielded a score of 0.885, falling within an acceptable range. This ensured the consistency of the research instruments in measuring the intended constructs. The study recommends several measures for Rwanda Social Security Board's Pension Scheme branch based on its findings. It advises the strengthening of budgetary control mechanisms, emphasizing clear plans, monitoring, and timely corrective actions. Additionally, enhancing accounting control practices, including continuous monitoring and compliance enforcement, is suggested. The optimization of liquidity management strategies to ensure compliance and strategic investments is also recommended. To bolster the effectiveness of financial control, investing in staff training and awareness programs is proposed. Lastly, implementing periodic evaluations and continuous improvement systems for financial control mechanisms is advised, allowing RSSB to adapt and enhance accountability practices over time.
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