Journal of
Accounting and Taxation

  • Abbreviation: J. Account. Taxation
  • Language: English
  • ISSN: 2141-6664
  • DOI: 10.5897/JAT
  • Start Year: 2009
  • Published Articles: 207

Article in Press

Internal Control over Cash: - Empirical Evidence from Wegagen Bank Hossana Branch

Abraham Tessema Handalo and Elelete Gebre

  •  Received: 14 September 2020
  •  Accepted: 12 November 2020
The internal control over cash has a great role in cash management of financial institutions. Despite its significant, it is not studied still in Wegagen Bank Hossana Branch. We analyzed internal control over cash by using primary data collected from a sample of 6 selected respondents (employees) in Wegagen Bank Hossana Branch. The non-probabilistic sampling technique such as purposive and convenience method were employed to select the organization and sample size. The key tool to gather primary data was questionnaire whereas secondary data was gathered by reviewing files, documents, published books, articles and journals. Descriptive statistics such as percentages and tables were used for data analysis. We concluded from findings that trainings had organized on internal control over cash procedure and there is an appropriate system over cash. The findings revealed that it had strong daily reconciliation of cash collection &cash payment, and there were cash collection difficulties due to a counting machine error and delay in its maintenance. Moreover, the findings showed that the organization have strong proper security over cash on hand. Therefore finally we recommended that there should be continued training on internal control over cash, use effective source of documents, careful counting &solving a counting machine error and enhancing proper security in addition to proper system over cash. This indicates direct influence of internal control over efficient cash management in organization.

Keywords: Cash management, Descriptive statistics, internal control, Hossana branch, Wegagen bank