ghanaopendata/ghanaian-research-english huggingface dataset:
Internal audit and corporate governance at Ghana water company limited: the study of Cape Coast Metropolis in the Central Region, Ghana

Effective corporate Governance practices requires appropriate internal audit practices to enhance efficiency. The main purpose of this study was to ascertain the practices of internal audit and corporate governance at Ghana Water Company Limited at the Central Region in the Cape Coast Metropolis. The specific objectives were: identify the Internal Audit practices in Ghana Water Company Limited, assess the corporate governance framework of Ghana Water Company Limited, assess the role of internal audit practice on good corporate governance in Ghana Water Company limited and examine how Corporate Governance practices can be enhanced through audits in Ghana Water Company Limited in Central Region. The population for the study was 72. The simple random sampling was employed to select a sample size of 61. The researcher administered questionnaire to gather information from the respondents. Quantitative analysis and regression analysis were used as data analysis technique. Descriptive statistics such as frequency distribution tables were used in the analysis of data. From the findings, the study revealed that there was greater variation in corporate governance Ghana Water Company due to changes in internal audit control, independence of internal audit function and Good ethical behaviour of auditors. The study also established that there was a strong positive relationship between corporate governance Ghana Water Company and internal audit controls, independence of internal audit function, professional and good ethical behaviour of auditors. Auditors work closely with managers to review operations. The internal auditors are instrumental in guiding and evaluating the efficiency and effectiveness of an organization’s operations and systems, and will be accountable to a governing body. The study recommends that management Ghana Water Company should adopt effective internal audit practices such as internal auditing standards, independence of internal audit, professional competency and internal controls to enhance the corporate governance practices of the Ghana Water Company.

Source: UCC
Internal audit and good governance in the public sector in Kumasi

Well performing internal audit function has been argued as one of the strongest means of internal control to monitor and promote good governance system in an organization. While internal audit can be used in order to assist management in order to instill a strong ethical tone in the entire organization, a poor attitude by the management can make it hard for the internal auditor to uphold ethical behaviour. As a result, many countries have increased attention on internal audit as an important component of government financial management and as a tool for improving the performance of the government sector. The objective of this study was to establish the effectiveness of internal audit in promoting good governance in the public sector in Ghana with special focus on the Ministries, Department and Agencies (MDAs) and Metropolitan, Municipal and District Assemblies (MMDAs). The research was both quantitative and qualitative in nature with both descriptive cross-sectional design method and regression analysis preferred for the study. The study also uses logistic estimation technique on the primary data collected to find out the association between corporate governance and internal systems of risk management, compliance and consultancy and internal controls. The research established that internal audit significantly affects internal controls, risk management and compliance and consultancy. However, internal control and compliance and consultancy are less likely to ensure good corporate governance. The study therefore recommend that the government should recognize the contribution of internal auditing and embrace it as an effective tool so as to realize their objectives set.

Source: UCC
Internal Audit Effectiveness and the Financial Performance of Non-banking Financial Institutions in Ashanti Region of Ghana

The study was conducted to assess the internal audit effectiveness and its relatedness with financial performance of selected non-banking financial institutions in the Ashanti Region of Ghana. The study adopted an observational cross-section descriptive survey approach aimed at ensuring the thorough capture of details on the internal audit efficiency and financial performance situations without influencing the study environment. Purposive sampling technique was employed in collecting information from the staff of thirteen selected non-banking institutions. Close ended semi-structured questionnaires were used in obtaining data on issues pertaining to internal audit effectiveness whilst open-ended questionnaires were used to obtain data on financial performance indicators. Responses from questionnaire administration were analyzed using the Statistical Package for Social Sciences (SPSS) analytical tool, version 16.0. Both descriptive statistics and inferential statistics were obtained for the purpose of the study. The study found a significant level of internal audit competency (around 55 percent), a fair level of management support to ensure non-banking financial institutions' internal audit effectiveness, and a high positive association between internal audit competency and non-banking financial institutions' financial performance. Internal audit independence was also found to be positively related to financial performance. It was thus recommended that board and management of non-banking financial institutions ought to maintain adequate audit staff size, and strictly adhere to strategies aimed at promoting internal audit competence, independence and management support systems

Source: UCC
Internal audit functions fraud prevention detection and reduction in covered entities in the Upper West Region of Ghana

In recent times, the function of the Internal Auditor‟s profession has been modified to include as supervision, consultancy and partnership of management (Fury, 2016). This pattern shift in the function of internal audit enjoins Internal Auditors to play the role of preventing, detecting and reducing fraud in covered entities. It is in this bid that this study looked into internal audit functions and fraud detection, prevention and reduction in covered entities in the Upper West Region of Ghana. This study respondents is made up of internal auditors in covered entities of the Upper West Region of Ghana. Respondents‟ characteristics were analysed using descriptive statistics. The study discovered that systems of internal control; risk management and governance; enactments, policies, standards, systems and procedures; and reports by internal auditors of any suspected frauds or misuse of public funds to responsible authorities influenced internal auditors‟ fraud detection, prevention and reduction. The study also revealed that for the past three years, fraud indicators like cash on hand fraud, corruption, and fraudulent expense reimbursement were on the rise in covered entities; while, fraudulent billing, cheque tempering and payroll fraud were found to be decreasing within the covered entities. Meanwhile, fraudulent statements, non-cash fraud, fraudulent registered disbursement, cash larceny and skimming did not record any significant change in occurrence for the past three years. The study recommends that management and internal auditors in covered entities must join hands in combating fraud in these entities.

Source: UCC
Internal Audit Independence and Effectiveness Among Metropolitan, Municipal and District Assemblies in the Central Region of Ghana: The Mediating Role of Auditor Satisfaction

This research investigated the connection between internal audit independence and internal audit effectiveness, considering the mediating role of auditor satisfaction. Primary data were gathered from 113 internal auditors representing all Metropolitan, Municipal, and District Assemblies in the Central Region of Ghana. The data collection method employed in this study was a questionnaire. The analysis of the research data was performed using the Partial Least Square estimation technique, guided by an explanatory research design. The principal discovery of the study indicated a positive and substantial correlation between internal audit independence and internal audit effectiveness. Also, the study found that the nexus between internal audit independence and internal audit effectiveness is partially mediated by auditor satisfaction. Hence, it was recommended that the Metropolitan, Municipal and District Chief Executives (MMDCEs) and Metropolitan, Municipal and District Coordinating Directors (MMDCDs) of Metropolitan, Municipal and District Assemblies (MMDAs) should be more responsive to employees by seeking for innovative ways of making their internal auditors independent in the performance of their audit work in order to enhance their internal audit effectiveness. Thus, internal auditors should have unrestricted access to all information, records, property, personnel, systems and processes, promotion and appointment. Again, the MMDCEs/ MMDCDs of MMDAs should pay attention to auditors’ job satisfaction as the means through which internal audit independence converts into internal audit effectiveness.

Source: UCC
Internal audit independence in Ghana Education Service: evidence from Volta Region

This study assessed internal auditor independence in Ghana Education Service with evidence from Volta Region. Quantitative research methodology was adopted for the study hence the analyses were quantitative in nature. The study used descriptive survey as its research design and used the census method to select all internal auditors and their supporting staffs numbering 135, who served as sample size for the study. A structured close-ended questionnaire was the main instrument used for data collection. The data collected were analysed using descriptive statistical tools (frequency tables, percentages, mean and its associated standard deviation) as well as inferential statistics (one-way-ANOVA). The study revealed that, giving autonomy to the internal audit function had the greatest influence on internal auditor independence positively ( X = 3.83). Further examination showed that, to a large extent, threats (self-interest threats and intimidation threats) positively affect internal auditor independence of mind at GES, Volta Region (overall X = 3.21). Contrariwise, threats do not affect internal auditor independence in appearance at GES, Volta Region (overall X = 2.25). Finally, the study revealed that there is no difference in the mean level of the various internal audit threats among males and females and that the means among males and females are equal. The study therefore recommended that, substantial emphasis must be placed on the importance of reporting lines in maintaining the autonomy of internal auditors.

Source: UCC
Internal audit practices of Tamale Metropolitan Assembly of Ghana

Internal auditing plays a significant role in the management of most modern organizations. In the public sector of Ghana, internal auditing is meant to drive greater efficiency and help in the delivery of public services. Metropolitan, Municipal and District Assemblies (MMDAs) have Internal Audit Units (IAU) as independent appraisal functions to examine and evaluate their financial and operational activities. Despite the potential roles of IAUs in MMDAs, the 2013 Auditor General report of Ghana found irregularities in the accounts of the Tamale Metropolitan Assembly (TaMA) in the Northern Region of Ghana. Thus this study examined internal audit practices of TaMA whether they are effective in helping to ensure proper management and accountability of public financial resources. The agency theory served as the framework for understanding the problem. Using a purposive sampling technique, seven key staff formed the sample of the study. Interviews were done to gather data for the study. All interview transcripts were transcribed and analysed according to the study objectives. The results show that the IAU in TaMA carries out its functions as stipulated by the Internal Audit Agency. However delays in the assignment of audits to internal auditors in TaMA as well as inadequate and untimely supervision of their work by the Head of the IAU in TaMA are challenges. It is recommended that the Head of the IAU in TaMA ensure that internal auditors have the duties assigned to them when necessary, and ensure they have all resources they need to be effective in their work. The Head of the IAU must always follow up on the staff to ensure they are carrying out their duties properly.

Source: UCC
Internal Audit Practices, Fraud Detection and Prevention in the Adventist Health Services

Numerous high-profile examples of financial fraud over the past two centuries show that scams have long existed. KPMG (2012) found that 74% of all African fraud cases were recorded in only four countries: Nigeria, Kenya, Zimbabwe, and South Africa. Data mining has been utilised in some affluent nations to combat healthcare fraud and misuse. However, in Ghana, the literature suggests that there has been little investigation involving healthcare fraud for data mining techniques. The general research objective of this study is to establish the extent to which audit practices contribute to the success of fraud detection and prevention in Ghana Adventist health services. The researcher used a descriptive survey approach to determine whether there is a significant association between the degree of internal audit practices and the level of fraud detection and prevention. This study’s population consisted of 168 people, and simple random of 103 respondents was selected to answer the questionnaire. The data was analyzed using the regression analysis technique to reveal the effect of internal audit practices on fraud detection and prevention in Adventist health services. The study finding reveals that fraud activity is detected regularly in their facility. As a result, effective fraud risk management necessitates more than just ensuring an effective system of internal controls. However, it was recommended that internal audit functions in healthcare organisations be independent of detecting fraud fairly.

Source: UCC
Internal Auditing and Good Corporate Governance in Public-Private Partnerships Among Christian Health Association of Ghana (Chag) Facilities in the Eastern Region of Ghana

The study assessed the relationship between internal auditing and good corporate governance among Public-Private Partnerships (PPP) in the Christian Health Association of Ghana (CHAG) health facilities. Primary data was sourced through questionnaire from 132 Administrators, Financial Controllers, Internal Auditors, Accountants and Finance Officers of all the CHAG health facilities in the Eastern Region. Partial least square estimation technique was used to analyse the study data. The study employed explanatory research design. The main finding of the study was that CHAG governance framework is formed to ensure accountability and apply the appropriate governance principles and procedures for their administration’s operations. Further, the study found that quality internal auditing brings about a positive influence on good corporate governance. Besides, the study found that lack of trained auditors, political influence, lack of office space for internal auditors and lack of management support are the challenges connected with internal auditing and good corporate governance. Hence, it was recommended that the management of CHAG and Ministry of Health (MOH) should endeavour to identify and understand the practical corporate governance framework that symbolises the principles of responsibility, accountability, fairness and transparency that are essential for the successful running of their facilities. Again, internal auditors of CHAG health facilities should intensify their internal auditing functions to manage risks, ensures internal control and operations. Finally, the management of Hospitals, Health/Rehabilitation Centres and Clinics of CHAG should put in place effective measures to solve the emerging challenges associated with internal auditing and good corporate governance practices.

Source: UCC
Internal Auditing in Selected Local Governments in the Central Region of Ghana

Internal auditing is expected to monitor resource mobilisation and utilisation in order to achieve development objectives at the local level. However, the philosophy and a qualitative research design, the study examined how internal auditing is carried out that it could not stop the irregularities in local governments. The study was conducted in selected local governments in the Central Region of Ghana. The explorative research design was employed. The study population covered Chief Executives of the local governments, Coordinating Directors, Chairpersons of Audit Report Implementation Committees, Internal Auditors, District Auditors, Chairman of Public Accounts Committee of Parliament, Director-General of Internal Audit Agency, Auditor-General, President of Institute of Internal Auditors (GH), and a representative from the DDF FOAT Secretariat. A sample size of 25 was purposively selected but 20 took part in the study. The data collection method was key informants interview and the data collection instruments were interview guides and checklists. The data was analysed manually using pattern matching, comparison, interpretation, and content analysis. The study revealed that internal auditing was carried out poorly because management bodies did not support internal auditors to discharge their duties in an independent and objective manner. It is recommended that an Internal Audit Class should be established so that internal auditors in the local government institutions could be placed under the Class for them to report administratively to its Head in Auditor-General5 s reports on local government in Ghana depict irregularities which recur year after year since 1997. Using the interpretive research order to ensure their independence and objectivity in discharging their duties.

Source: UCC
Internal auditing in selected local governments in the Central Region of Ghana.

Internal auditing is expected to monitor resource mobilisation and utilisation in order to achieve development objectives at the local level. However, the Auditor-General's reports on local governments in Ghana depict irregularities which recur year after year since 1997. Using the interpretive research philosophy and a qualitative research design, the study examined how internal auditing is carried out that it could not stop the irregularities in local governments. The study was conducted in selected local governments in the Central Region of Ghana. The explorative research design was employed. The study population covered Chief Executives of the local governments, Co­ ordinating Directors, Chairpersons of Audit Report Implementation Committees, Internal Auditors, District Auditors, Chairman of Public Accounts Committee of Parliament, Director-General of Internal Audit Agency, Auditor-General, President of Institute of Internal Auditors (GH), and a representative from the DDF FOAT Secretariat. A sample size of 25 was purposively selected but 20 took part in the study. The data collection method was key informants interview and the data collection instruments were interview guides and checklists. The data was analysed manually using pattern matching, comparison, interpretation, and content analysis. The study revealed that internal auditing was carried out poorly because management bodies did not support internal auditors to discharge their duties in an independent and objective manner. It is recommended that an Internal Audit Class should be established so that internal auditors in the local government institutions could be placed under the Class for them to report administratively to its Head in order to ensure their independence and objectivity in discharging their duties

Source: UCC
Internal Auditing, Audit Committees and Fraud Prevention in the Ghana Health Service: Evidence from the Fanteakwa District Health Directorate

This study investigates the relationship between the internal auditing, audit committees and fraud prevention in the Fanteakwa District Health Directorate. Primary data were collected from 108 employees from the health directorate. They included Internal Auditors, Accountants, Administrative Staff and Finance Officers. The study adopted a quantitative approach and employed a questionnaire as its primary data collection instrument. The study employed the Partial Least Square estimation technique for data analysis. The study employed explanatory research design. The study revealed that a well-qualified and knowledgeable audit committee substantially enhances the effectiveness of fraud prevention efforts. Furthermore, the study found that when the internal audit function operates independently, it plays a crucial role in preventing and mitigating fraudulent activities. Also, the study documented that the presence and active involvement of internal auditors in an organisation's operations play a vital role in deterring and preventing fraudulent activities. Therefore, it was recommended that management of the Directorate should focus on developing and maintaining a highly qualified and knowledgeable audit committee. Regular training and professional development opportunities for committee members can help them stay up-to-date with best practices in fraud prevention. Moreover, the Fanteakwa District Health Directorate should take steps to ensure that the internal audit function remains independent from the influence of management. Besides, Medical Superintendents within Fanteakwa District Health Directorate should further empower and support the internal audit team. This may include providing additional training and resources to enhance their ability to detect and prevent fraud effectively.

Source: UCC
Internal Control Practices and Financial Performance of Private Health Institutions Within the Tamale Metropolis, Ghana

The contributions of internal control practices in any organisational setup can never be overemphasised. These practices notably monitoring, risk audit, control activities, information and communication and control environment have largely been found to promote financial performance. This research purposely analysed how these practices actually affect the financial performance of private health institutions within the Tamale metropolis of Ghana. This research was underpinned by the agency theory, quantitative approach, explanatory design and gathered primary data from 197 sampled health workers through structured questionnaires. A valid data set of 192 was processed using IBM SPSS version 26 statistical software. the linear regression technique was employed for the analysis of which the study found all the internal control practices to individually ensure better financial performance. It was concluded that internal control practices are key predictors of financial performance. The study, therefore, recommended that management of the private health institutions should pay immense attention to developing internal management mechanisms to boost their financial efficiency and overall performance while staying competitive.

Source: UCC