EFFECT OF GOVERNANCE ON RISK MITIGATION AMONG COUNTY GOVERNMENTS IN KENYA. A CASE OF MOMBASA AND KILIFI COUNTY
Abstract
The purpose of the study was to assess the effect of governance on risk mitigation among county governments in Kenya. Because of the ease with which information could be obtained, the research was carried out in the departments of the Mombasa and Kilifi county governments. The research design used in this study was a descriptive cross-sectional. The target demographic consisted of 85 senior staff members (County Executive Committee (C.E.C.) members, Chief Officers (C.O.s), and Directors) working in 11 departments throughout Mombasa and Kilifi county governments. Primary and secondary data were used in the investigation. Descriptive statistics, such as frequency distributions, means, modes, and standard deviations, were used to compile and analyze the data. In order to guarantee that the information was accurate, detailed, and consistent, it was sifted and changed. The data was organized and recorded in accordance with the study's objectives and research questions, and a range of statistics were obtained. All four independent variables (management accountability P=0.000, public participation 0.006, financial reporting 0.000, and compliance with the rule of law 0.019) had a P value less than the threshold level of significance of 0.05, indicating a significant relationship between governance and risk mitigation in the county governments. Risk identification and mitigation are critical in determining the financial success of county governments in terms of income and expenditure, according to the results of the study. In order to reduce the impact of risks on the organization, they must be mitigated as soon as they are discovered. According to international accounting standards, financial reporting by county governments is standardized to increase accountability and transparency by lowering the complexity of present financial reporting and enhancing the value of financial information for stakeholders and consumers. County government executives, according to the findings of the research, should develop and convey to their staff clear rules and processes for creating, implementing, and modifying conflict-of-interest policies at the appropriate levels in the public sector. It is also necessary for county leadership to establish protocols for sharing and debating financial reports and audit reports with members of the public and other stakeholders in the running of the county.
Key Words: Managerial Accountability, Public Involvement, Financial Reporting, Rule of Law, Risk Mitigation
CITATION: Mbaru, E. M., Mathuva, V., & Nyamongo, M. (2022). Effect of governance on risk mitigation among county governments in Kenya. A case of Mombasa and Kilifi County. The Strategic Journal of Business & Change Management, 9 (1), 838 – 855.
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DOI: http://dx.doi.org/10.61426/sjbcm.v9i1.2225
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