An Investigation of the Internal Controls for Zambia Airports Corporation Limited Financial Performance

The study investigated internal controls for Zambia Airports Corporation Limited financial performance. This was necessitated by the observance of weaknesses in internal controls and financial performance of selected parastatal bodies in Zambia’s Auditors General’s report for the year ended 31st December, 2020. The main objective of the study was to establish the relationship between internal controls and financial performance at Zambia Airports Corporation Limited. Primary data was collected from a purpose sample of Lusaka based Zambia Airports Corporation Limited employees using questionnaire (98) as the main research tool and interview guide (5) as supplementary. Secondary data was collected through review of records such as audited financial statements, journals, and books. Quantitative data collected from questionnaires was analyzed by means of descriptive and inferential statistics. Statistical package for social sciences version 27 was also applied to complete the data analysis. Data collected from interviews was analyzed using thematic data analysis by examining themes within data. The study established a positive relationship between internal controls and financial performance. This implies that internal controls help achieve profit and revenue targets. To improve Zambia Airports Corporation Limited financial performance, it was recommended that management considers strengthening its internal controls by responding timely to evaluated risks, ensure risk management committee worked closely with internal audit committee, provide regular feedback on financial performance to its employees, conduct awareness workshop on internal controls and its importance to its employees, and ensure internal audit unit was adequately staffed.