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Assessing bank’s internal control effectiveness: The case of Ghanaian listed banks
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CitationAksoy, T. ve Mohammed, A. (2020). Assessing bank’s internal control effectiveness: The case of Ghanaian listed banks. International Journal of Research in Business and Social Science, 9(4), 196-206.
This paper aims to evaluate the effectiveness of Ghanaian listed banks using COSO’s IC framework. Only Control environment, Risk assessment, and Monitoring activities components of the framework considered for this study. Methodologically, out of the 60 questionnaires, surveys distributed to the banks 37 copies received representing a 61.7% response rate. Statistic Package for Social Sciences (SPSS) v25 used to analyze data by running among other reliability tests, tests of normality, and descriptive statistics. The results of means and standard deviations gained ascertained that; strong cont rols existed in the control environment, risk assessment, and monitoring activities of internal control of the Ghanaian listed banks. A risk assessment had a low average mean compared to the control environment and monitoring activities. Because banks oper ate under higher risk than any other financial institution, we propose that Ghanaian listed banks should increase investment in risk assessment.