A Result Based Experimental Analysis of Rwandan Financial Progress as a Result of OAG Audit with Reference from 2014 to 2018

Abstract

The study intends to be a result based experimental analysis of Rwandan financial progress as a result of office of auditor general (OAG)’s audit with Reference from 2014 to 2018. The objective of the study was to analyze the financial effectiveness of Rwanda as result of status of OAG audit recommendations. The Research Methodology used was both qualitative and quantitative methods to achieve the research objective, the secondary data were collected and then analyzed through Spreadsheet and SPSS 20 tools. The result of the analysis noted that boards and government business enterprises (GBEs) in general have been predominantly getting adverse opinion in the last 3 years. However, there was a notable improvement for Rwanda development board (RDB), Rwanda biomedical center (RBC) and Rwanda transport development agency (RTDA). Regarding to unnecessary or unlawful expenditures, and whether there was embezzlement or squandering of public funds, there has been 68% decline in the Article 166 type of expenditure from Frw 17.6 billion (2016) to Frw 5.68 billion (2018). The biggest decline has been under “Unsupported expenditure” which has declined by 92% from Frw 6.9bln (2016) to Frw 0.6 billion (2018). Therefore, this is indicative of an improvement in public financial management (PFM) systems and controls when it comes to recording and accounting for expenditure