The Impact Of Financial Control On Survival And Growth Of Oil Companies In Kenya

ABSTRACT The failure of several large corporations at the global stage has been attributed to weak or ineffective financial control. ,.D., recent example is the large United States of America (US) insurance organization, American International Group (AIG), which in May 2005, reduced its 2004 profits by $2.7 billion due to accounting errors over the period 2001 to 2004. In the energy industry, some of the big corporations that have suffered huge losses attributed to failure in their accounting and financial control mechanisms include Enron Corporation of the US and Yukos of Russia. investigati…