NRU :: Browsing by Author "Kigongo Kaawaase, Twaha"

Browsing by Author "Kigongo Kaawaase, Twaha"

Now showing 1 - 9 of 9

Audit committee effectiveness, internal audit function and sustainability reporting practices
(Asian Journal of Accounting Research, 2021) Tumwebaze, Zainabu; Bananuka, Juma; Kigongo Kaawaase, Twaha; Tirisa Bonareri, Caroline; Mutesasira, Fred
The purpose of this study is to examine the association between audit committee effectiveness (ACE), internal audit function (IAF) and sustainability reporting practices. Design/methodology/approach – Using a cross-sectional and correlational design, useable questionnaires were received from 48 financial services firms in Uganda. The data were analyzed using Statistical Package for Social Sciences. Findings – results indicate that ACE and IAF are positively and significantly associated with sustainability reporting practices. ACE and IAF are more significantly associated with economic and social indicators than environmental sustainability indicators. Research limitations/implications – In terms of practice, it is no longer a matter of having internal auditors and audit committees in place but rather those who are mindful of the welfare of society and the natural environment. The effectiveness of the board audit committee and a functioning internal audit can be assessed in terms of their recommendations and decisions regarding improvements in the welfare of society and the natural environment in addition to the traditionally known performance benchmarks. Practical implications – The study focuses on only financial services firms in Uganda, and this is a small sample. Future studies may focus on larger samples to enable comparison of the results. Originality/value – This study provides insights on the initial understanding of the association between ACE, IAF and sustainability reporting practices using evidence from a developing African country – Uganda.
Corporate governance, internal audit quality and financial reporting quality of financial institutions
(Asian Journal of Accounting Research, 2021) Kigongo Kaawaase, Twaha; Nairuba, Catherine; Akankunda, Brendah; Bananuka, Juma
The purpose of this study is to establish the relationship between corporate governance attributes (board expertise, board independence and board role performance), internal audit quality and financial reporting quality using evidence from Uganda’s financial institutions. Design/methodology/approach – This study research design is cross sectional and correlational. The study used a questionnaire survey of Chief Finance Officers, Senior Accountants and Internal audit managers of financial institutions in Uganda. Data were analyzed with the help of Statistical Package for Social Sciences. Findings – Results indicate that board expertise and board role performance are significantly associated with financial reporting quality. Also, internal audit quality is significantly associated with financial reporting quality. Board independence is not a significant predictor of financial reporting quality. Originality/value – This paper provides insights of what matters for financial reporting quality in Uganda’s financial reporting quality. It uses the qualitative characteristics of financial statements to measure financial reporting quality. This paper focuses mainly on the conceptual framework developed by the International Accounting Standards Board.
Determinants of the intention to adopt Islamic banking in a non-Islamic developing country The case of Uganda
(ISRA International Journal of Islamic Finance, 2019) Bananuka, Juma; Kigongo Kaawaase, Twaha; Kasera, Musa; Nalukenge, Irene
This paper aims to investigate the contribution of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy like Uganda, which is a secular state that is in the early stages of adopting Islamic banking. Design/methodology/approach – This study uses a cross-sectional and correlational research design. Usable questionnaires were received from 258 managers of their own micro businesses. A hierarchical regression analysis was used to test the hypotheses. Findings – Results indicate that attitude and religiosity are significant determinants of the intention to adopt Islamic banking, unlike subjective norm whose predictive power is subsumed in attitude. In the absence of attitude, subjective norm is a significant determinant of intention to adopt Islamic banking. Overall, attitude, subjective norm and religiosity explain 44 per cent of the variance in the intention to adopt Islamic banking in Uganda. Research limitations/implications – This study is cross-sectional, excluding the monitoring of changes in behavior over time. Further, the study used evidence from owner-managed micro businesses in Uganda. It is possible that these results are only applicable to Uganda’s micro businesses. Originality/value – Islamic banking is an emerging phenomenon on the African continent, especially in Sub-Saharan Africa, where most countries are secular states. As such, there are largely no empirical studies exploring the combined contributions of attitude, subjective norm and religiosity on the intention to adopt Islamic banking in an emerging economy after the national adoption of an enabling legal framework. To the best of the researchers’ knowledge, this is the first study that carries out this task.
Impact of Petroleum Excise Tax Costs on Firm Productivity in Uganda
(Theoretical medicine and bioethics, 2008) Opiso, Julius; Korutaro Nkundabanyanga, Stephen; Tumwine, Sulait; Kigongo Kaawaase, Twaha; Senyonga, Livingston; Echegu, Simon
The aim of this paper is to investigate the effects of petroleum fuel excise tax costs on productivity of generator-reliant firms in Uganda. Most studies investigated the association between corporate tax and firm productivity, value added tax and firm productivity. This study contributes to the neglected area on the influence of petroleum excise tax costs on firm productivity. In this paper, we employ the ordinary least square (OLS) method for estimations. The results show a negative impact of petroleum fuel excise tax costs on the productivity of manufacturing firms, driven by the severe tax burden. In addition there is a negative significant association between tax cost and household welfare. Therefore tax policy actors should formulate policies that not only raise tax revenue but also boost business growth.
Intellectual capital and performance of small and medium audit practices The interactive effects of professionalism
(Journal of Accounting in Emerging Economies, 2019) Kigongo Kaawaase, Twaha; Bananuka, Juma; Kwizina, Thomson Peter; Nabaweesi, Jennifer
The purpose of this paper is to examine the interactive effects of professionalism in the relationship between intellectual capital (IC) and performance of small and medium audit practices (SMPs) within the context of a developing economy, Uganda. Design/methodology/approach – Data were collected through a questionnaire survey of 77 SMPs registered with the Institute of Certified Public Accountants of Uganda through their managing partners. The authors utilized multiple regression analysis to test hypotheses using centered variables and an interaction term between IC and professionalism. Findings – IC is a significant determinant of performance of SMPs in Uganda; while professionalism when acting alone is not significant, however, results have shown that professionalism interacts with IC to enhance performance of SMPs. Research limitations/implications – This study, owing to the absence of publically available published financial statements of SMPs, utilizes a questionnaire to collect data on performance of SMPs which could be less objective. Further, as the study is limited to SMPs in Uganda, it is possible that the results are only applicable to Uganda’s accountancy field. In addition, the use of multiple regression is prone to problems associated with sampling error. However, the likelihood of these problems is mitigated by the interface with data and regression analysis diagnostics that were carried out. Originality/value – This study provides initial empirical evidence on the relationship between IC, professionalism and performance of SMPs in developing economies. The study further indicates that while IC acts independently to influence firm performance, its interaction with professionalism enhances this performance
Internal audit quality, punitive measures and accountability in Ugandan statutory corporations
(Journal of Economic and Administrative Sciences, 2021) Nalukenge, Irene; Kigongo Kaawaase, Twaha; Bananuka, Juma; Ogwal, Peter F.
This study aims to (1) examine the contribution of internal audit quality, punitive measures to accountability in statutory corporations in developing countries such as Uganda and (2) test whether internal audit quality mediates the relationship between punitive measures and accountability in Uganda’s statutory corporations. Design/methodology/approach – This study is cross-sectional and correlational. Data were collected through a questionnaire survey conducted for 82 statutory corporations. The study’s unit of analysis was a statutory corporation. Chief Internal Auditors and Chief Finance Officers were the study’s unit of inquiry. Data were analyzed through correlation coefficients and linear regression using Statistical Package for Social Sciences. Findings – The results suggest that internal audit quality and punitive measures independently predict accountability. However, punitive measures do not predict accountability in the presence of internal audit quality. Results further indicate that internal audit quality mediates the relationship between punitive measures and accountability in Uganda’s statutory corporations. Originality/value – This study confirms internal audit quality (a preventive measure) as a significant predictor of accountability in statutory corporations relative to punitive measures. To achieve accountability, more emphasis thus needs to be put on preventive mechanisms than on punitive mechanisms. This study also enhances our understanding of the relationship between punitive measures, internal audit quality and accountability. In this study, we arrive at new evidence on the mediating role of internal audit quality in the relationship between punitive measures and accountability in Uganda’s statutory corporations.
Isomorphic influences and voluntary disclosure: The mediating role of organizational culture
(Cogent Business & Management, 2017) Iliya Nyahas, Samson; Munene, John C.; Orobia, Laura; Kigongo Kaawaase, Twaha
Purpose: The purpose of this paper is to test the mediating effect of organizational culture in the relationship between isomorphic influences and voluntary disclosure. Design/methodology/approach: A cross-sectional design was employed. Data were collected using a survey questionnaire for the independent variables of coercive, mimetic normative isomorphism as well as organizational culture (mediating variable). The data for the dependent and control variable were obtained from content analysis of financial reports of 92 companies and was analysed using partial least squares PLSSEM. Findings: The results indicate that coercive and normative isomorphic mechanisms are positively related voluntary disclosure while mimetic mechanism is not. Organizational culture partially mediates the relationship between isomorphic influences and voluntary disclosure practices of listed firms in Nigeria. Research Limitation/implication: The cross-sectional nature of the study means that it does not capture changes in the Nigerian business environment overtime. Future research may consider a longitudinal study. The study is not industry specific as such may capture industry differences. However, the result is still considered valid since industry category was controlled for. Practical implication: the result has implication for a number of interested parties such as regulatory
Perceived auditor independence factors in Uganda
(ResearchGate, 2017) Kigongo Kaawaase, Twaha; Korutaro Nkundabanyanga, Stephen
The purpose of this paper is two-fold: the first is to establish whether, in the face of the company-pay model, financial statement preparers perceive threat and enhancing factors of Auditor Independence (AI) the same way as users and external auditors, then secondly to model AI factors in Uganda. Design/methodology/approach – A two-methods approach is used which comprises, use of a oneway ANOVA where the independent variable (AI factors) is measured using different participants or groups (preparers, auditors and users) to examine the differences in opinions between the groups, and confirmatory factor analysis technique of structural equation modelling to achieve the two-fold objective. We use a self-administered survey questionnaire to accountants in Uganda involved with entities’ financial statements as preparers, external auditors or users to collect data. Findings – There are significant differences in opinions of the preparers and the other stakeholders (users and auditors) regarding non-rotation of audit firm, staff and partners and, board control of appointment and remuneration of auditors; as AI undermining factors. The preparers opine that failure to rotate auditors and the control of auditor appointment and remuneration by the board is more AI constraining, relative to the opinions of both the auditor and user regarding these factors. Financial statement preparers were more concerned than auditors and users that failure to rotate auditors and the control of auditor appointment and remuneration by the board impairs AI. A sixdimensional model of AI undermining factors was fitted and a five-dimensional model best fitted for AI enhancing factors. Practical implications – The paper provides two models that can be used by accountancy bodies or other stakeholders as a starting point in improving/or evaluating AI in developing countries. Originality/value – This study is representative of key parties on the demand and supply sides of the audit services market, auditors, financial report prepares and financial report users. It thus extends the frontiers of knowledge on critical factors affecting AI in a developing country context and has implications for theory, policy and practice.
Sustainability performance disclosures: the impact of gender diversity and intellectual capital on GRI standards compliance in Uganda
(Journal of Accounting in Emerging Economies, 2022) Bananuka, Juma; Korutaro Nkundabanyanga, Stephen; Kigongo Kaawaase, Twaha; Katoroogo Mindra, Rachel; Kayongo, Isaac Newton
The purpose of this study is to examine the extent of and impact of gender diversity and intellectual capital on compliance with Global Reporting Initiative (GRI) sustainability reporting standards by Uganda manufacturing companies. Design/methodology/approach – Data were collected from manufacturing firms in Uganda using a questionnaire survey to find out their perception of compliance with the GRI standards. Data were analyzed using statistical package for social sciences, Microsoft Excel and smart partial least squares structural equation modeling (PLS–SEM). Findings – The results indicate that on average,manufacturing firms inUganda complywithGRI sustainability reporting standards to the extent of 59%. The results further indicate that manufacturing companies comply more with the GRI 200 (economic performance disclosures) to the extent of 63%as compared with 55%for GRI 300 (environmental performance disclosures) and 58%for GRI 400 (social performance disclosures). The results also indicate that intellectual capital has a significant impact on the GRI-based sustainability performance disclosures inUganda. However, board gender diversity has no significant effect. In terms of the control variables, only firm size is significant, while firm age, capital structure and auditor type are not. Originality/value – This study provides first time evidence of the extent of compliancewith the GRI sustainability reporting standards using evidence from Uganda – an African developing country. This study widens the understanding of the usage of GRI standards in the preparation of sustainability reports by manufacturing firms in an emerging economy. This study also provides first-time evidence on the role of gender diversity and intellectual capital in GRI-based sustainability performance disclosures using evidence from Uganda’s manufacturing sector.

Browsing by Author "Kigongo Kaawaase, Twaha"

Results Per Page

Sort Options