Strengthening Cash Handling Practices in Government Agencies: Insights from External Certified Public Accountant
DOI:
https://doi.org/10.67167/vertex.402Keywords:
cash handling practices, fraud prevention, descriptive-correlational, agency relationship, internal control, regulation, ethics and integrityAbstract
This study examined the cash handling practices of government offices and identified areas requiring strengthening and improvement, particularly in relation to fraud prevention. It focused on gaining a clearer understanding of how the existing procedures help in minimizing the risk of fraud and ensuring transparency in reports for public fund management. A quantitative descriptive-correlational research design was employed for the conduct of this study which involves 33 respondents assigned from the various government offices in the Province of Surigao del Sur. The study utilized a descriptive component to determine the level of existence of cash handling practices, while correlational component to examine the relationships among two or more variables. Data were collected using structured survey questionnaire and analyzed using appropriate statistical tools for reliability and validity of the study. The findings revealed that regulations significantly influenced the fraud-preventive measures which highlights the importance of strict adherence to established laws, rules, and regulations. Meanwhile, the agency relationship, internal control, and ethics and integrity showed no significant effects on prevention. The result suggests that having strong internal control mechanism and behavioral factors are important but it is not sufficient on their own without strong regulatory support. Overall, the study highlights the critical role of regulatory compliance in enhancing fraud prevention among government agencies. It is recommended that agencies place greater emphasis on adherence with existing laws, rules, and regulations, conduct regular monitoring and evaluation, and strengthen coordination among offices to improve cash handling practices to ensure proper handling, managing, and safeguarding of government funds.
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