Abstract:
This dissertation presents a comprehensive examination of the internal control systems within Zimbabwe's Ministry of Transport parastatals and their effectiveness in preventing fraud and corruption. Set against the backdrop of global and regional emphasis on robust corporate governance and internal controls, as underlined by frameworks like the Sarbanes-Oxley Act and the African Union’s Convention on Preventing and Combating Corruption, this study specifically focuses on the unique context of Zimbabwe. Through a meticulous quantitative research methodology, the study surveys a range of parastatals under the Ministry of Transport, analyzing data from 2010 to 2023. The analysis involves both descriptive and inferential statistical techniques to assess the state of internal control systems and their efficacy in fraud prevention. The findings reveal significant gaps in the application of these systems, despite the presence of formal governance frameworks. The study identifies key areas of weakness in current practices and highlights the disparity in the implementation of governance principles across different levels of organizational hierarchy. Based on these insights, the dissertation proposes a set of targeted recommendations aimed at enhancing the governance framework within these parastatals. Recommendations include the strengthening of internal control mechanisms, the establishment of a standardized governance framework, and the enhancement of regulatory oversight. The study not only contributes to the academic discourse on public sector governance in developing economies but also provides practical implications for policymakers and organizational leaders in Zimbabwe. It underscores the need for continuous improvement in governance practices to ensure the integrity and effectiveness of public sector operations. This research fills a critical gap in the understanding of corporate governance in the context of Zimbabwe’s public enterprises and lays the groundwork for further studies in this vital area.
