Impact of Internal Control Systems on Performance of Universal Banks: Evidence from Ghana

What is it about?

What could be panacea to the global failures and crises that the banking industry is experiencing over the years? Is it the case that the growth and development of financial institutions are dependent on the effectiveness and efficiency of its internal controls? Are the problems at the banking sector emanating as a result of control systems that are not effective? These have been a few questions that both scholars and practitioners have been seeking answers to. This study, therefore, sought to examine the impact of internal control systems on the performance of universal banks.

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Why is it important?

Notwithstanding the crucial role of internal controls in the performance of organisations, there is no known study that has looked at the influence of internal control systems on the performance of universal banks. Most of studies (example: Kwayie, 2015; Amoateng, 2017; Essuman, 2016) only concentrated on savings and loans institutions, and credit unions. The few (e.g., Owusu-Boateng et al., 2017; and Ayagre et al., 2014) that used universal banks were only interested in how of internal control systems were and how they could help to prevent fraud.

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