The Effect of Integrated Financial Management


The study sought to investigate the effect of integrated financial management practices on financial reporting in government ministries. Its specific focus was to establish the effect of financial planning, financial control and financial monitoring on the financial reporting in government ministries. This focus was adopted from the meta-theory model of Ruchala and Mauldin (1999). The study employed a descriptive research design to collect data from a sample size of 48 respondents.

The respondents included people from the accounting/finance and procurement/administration departments of selected government ministries. The results show a significant strong and positive relationship between financial planning and financial reporting in government ministries. With a calculated value of (sig 0.005, r =0.743),the study established that financial planning contributed 14.3% to financial reporting in government ministries. The study also revealed that financial control also had a significant weak positive relationship toward 5 financial reporting at the calculated value of (sig 0.01, r = 0.368).

This meant that financial control only contributed 11.2% towards financial reporting in government ministries. Lastly, the study revealed a significant weak positive relationship between financial monitoring on financial reporting at calculated value of (sig 0.000, r=0.297). This meant that financial monitoring contributed 8.2% towards financial reporting in government ministries. Therefore, the study recommends that financial planning, control and monitoring should become key components in the financial reporting requirements of government departments. This is possible if trained personnel are employed to monitor the IFMS infrastructure in government ministries.
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