Financial management in education is one of the most important and challenging aspects of a school principal’s job as it can impact the overall school management and success, as well as students’ achievement. The school principals need to be able to plan, organize, direct and control the financial activities such as procurement and utilization of funds of the organization. The concept and practice of accountability and transparency in financial management is essential to ensure that all funds received are channeled and spent as entrusted by the Ministry of Education. The school principals have the unenviable task of matching, monitoring and evaluating all available resources, both monetary and human, with their educational activities with utmost transparency and accountability. Several studies conducted within the last twenty years have shown that some school principals in Malaysia have insufficient skill and knowledge related to management of the school finances. Thus, this paper explores the implementation of practices related to accountability and transparency practiced by a group of school principals in selected public schools in Kuala Lumpur on their school financial management. In this qualitative study, the researchers have utilized semi-structured interview techniques as well as document analysis to answer the research questions. Thematic analysis was used to analyze the data using NVivo 12 software. The findings showed that there is critical need of financial management training for principals, finance committee and elected staff representatives. The level of accountability and transparency in school finances amongst these school principals were a great concern and that was one source of conflict and lack of support and monitoring from district offices. The implications and recommendations from this study are briefly discussed.
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In-Text Citation: (Yasin & Mokhtar, 2022)
To Cite this Article: Yasin, H., & Mokhtar, M. (2022). Practices of Accountability and Transparency in Financial Management among Secondary School Principals. International Journal of Academic Research in Business and Social Sciences, 12(9), 194– 211.
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