ghanaopendata/ghanaian-research-english huggingface dataset:
Internal control systems and financial performance of metropolitan, municipal and district assemblies in Ghana

The purpose of the study was to investigate the influence of internal control systems (ICSs) on financial performance of Metropolitan, Municipal, and District Assemblies (MMDAs) in Ghana using quantitative approach. The design used was descriptive survey. The study population was coordinating directors, finance officers, head of internal audit units, chief executives, and budgets officers of MMDAs in Ghana. They were 360 in number, and the census method was used to capture all of them. Questionnaire with a reliability coefficient of .789 was the instrument used. Out of the 360 questionnaire print-outs administered, the study was able to retrieve 325 of them. Frequency, percentage, mean, standard deviation, Pearson product moment correlation, and linear multiple regression analysis were used to analyse the data. The study revealed that there are ICSs at the various MMDAs in Ghana; however, the effectiveness of it could not be described as very strong but rather satisfactory. Also, it was realised that whenever staff perceive the assemblies’ ICSs as effective, it will translate into a significant increase in the financial performance of the assemblies. It was recommended that management should review the assemblies’ ICSs to ensure that the objectives of the MMDAs are achieved significantly, particularly risk assessment, monitoring of control, and information and communication systems practices of the company. Also, management of the assemblies should ensure that there is regular monitoring of the internal control activities at the local level in order to unearth potential lapses, abuse and wrongdoing and also ensure that those at the local level prudently manage resources under their control.

Source: UCC
Internal control systems and profitability of free zone companies in Ghana: The case study of HPW Fresh and Dry LTD and Bomarts LTD

Effect of internal control systems on profitability of companies has attracted the interest of many researchers recently. Many organisations having as their objective of maximizing scarce resources sometimes run a high risk of fraud, errors, misappropriations, inefficiency and ineffectiveness of operations. This study examined the effect of internal control systems on profitability of free zone companies with focus on HPW Fresh and Dry Ltd and Bomarts Ltd. The study used cross-section data set within a causal research design. The study employed quantitative approach in the study and data collection was done using questionnaire. A total of 182 respondents including finance officers, managers and supervisors were selected using simple random sampling technique. Analyses of the data were done by using descriptive and simple regression analyses. The study revealed that control environment has a positive effect on the profitability of free zone companies. In addition, risk assessment has a positive effect on the profitability of free zone companies. The study further revealed that control activities have positive effect on the profitability of companies. The results also indicated a positive relationship between information and communication and profitability of companies. Finally, the results showed that size of the company and leverage have positive and negative effects respectively on profitability. The study therefore recommends that management of free zone companies must put in place effective internal control systems in order to propel growth and profitability of their companies.

Source: UCC
Internal Control Systems of Public Institutions in Ablekuma-north Municipality

ABSTRACT The overarching aim of this study was to assess the effectiveness of internal control systems in the Ablekuma-North Municipal Assembly and make recommendations for areas where weaknesses exist. A sample of 30 respondents was drawn using a stratified random sampling technique. The study employed a descriptive and explanatory research design and a quantitative approach to achieving its objectives. The results indicated that internal control systems have been effective as far as the control environment is concerned, except that there were a few concerns regarding ethical issues as most of the respondents disagreed that ethical values are inculcated in all employees in the Assembly. The result also revealed that issues regarding risk assessment, information and communication, control activities bothering on effective separation of duties, safeguard of assets and budgeting, as well as monitoring of internal controls have all been adjudged effective as most of the respondents were in firm agreement with the various indicators of these perspectives. In addition, management has also demonstrated good fate as they help superintend the internal controls in the municipality. The study further indicated that the role of management has significantly impacted the effective implementation of good internal controls. Therefore, it was recommended that the assembly conscientise its staff to be ethically conscious in their dealings as this will enhance their compliance with internal controls.

Source: UCC
Internal Controls And Compliance In Public Health Facilities In Kwesimintsim Hospital - Takoradiinternal Controls And Compliance In Public Health Facilities In Kwesimintsim Hospital - Takoradi

The study assessed the internal control system compliance of public hospitals, using Kwesimintsim Hospital, Takoradi as a case in study. A specific focus of the study was on the effectiveness of the internal control system in ensuring that hospitals adhere to all applicable rules, regulations, and policies in the hospital, as well as preserving resources against theft and misuse. A crosssectional survey was used in the research. Employees at Kwesimintsim Hospital Takoradi filled out a structured questionnaire as the primary data collection instrument. The study focused on both hospital administrators and non-administrative workers. In total, there were 134 employees who took part in the survey. The data was analyzed using both descriptive and inferential statistics. The results showed that the hospital was generally adhering to its internal control procedures. To ensure orderly, ethical, economical, efficient, and effective operations; accountability duties; and compliance with laws and regulations; the hospital's internal control system played an important role. The hospital's internal control system, on the other hand, had little effect in preventing waste and fraud from occurring. In order to protect the hospital's resources from misuse, it is advised the hospital's leadership is to ensure that an effective internal control system was in place.

Source: UCC
Internal Finance-Investment Relationship and Financial Constraint: The Case of Small and Medium-Scale Manufacturing Enterprises in Ghana

This study examined the relationship between the level of investment and cash flow sensitivity as a measure of financial constraint of Small and Medium scale Enterprises (SMEs) in the manufacturing sector of Ghana. The most up-to-date 2013 World Bank Enterprise Survey (WES) data for Ghana comprising 720 private companies in Ghana's manufacturing, utility as well as other sectors was employed for the study. The dataset is country specific and the extant studies have been done using the same data justifying data credibility. The study was purely quantitative. The seemingly unrelated regression equations (SURE) model was used to model the simultaneity between investment and cash flow. The findings of the study revealed, among others, that the SMEs in the manufacturing sector adopted almost the same level of internal funds in financing their working capital. Also, the results of the study indicated a positive relationship between the percentage of working capital financed from internal funds and the level of investment among the SMEs in the manufacturing sector. Based on the investment-internal finance sensitivity criteria, the results was interpreted to imply that the SMEs in the manufacturing sector of Ghana are financially constrained. Further analysis revealed that enterprises were more likely to be externally constrained than internally constrained financially. The study recommends that, among other things, policy action by government agents such as the Central Bank and Ministry in charge of industries to improve access to finance among SMEs must target the manufacturing sector differently for an effective policy outcome since the nature of its constraint differ.

Source: UCC
Internal Financial Control System and Performance of The Komenda Edina Eguafo Abrem Municipal Assembly

ABSTRACT Several studies have been done in the area of internal financial control system of organisations in countries outside Africa, in Africa and also in Ghana. Such works posited that a good internal financial control system where there is proper documentation of financial transactions, direct and indirect control and preventive controls, helps the organisation to perform well financially. Added to that, they also ascertained that, there is a direct relationship between financial performance and good internal financial control mechanisms put in place by the company. Thus, using a positive paradigm through a descriptive quantitative method, the study set out to critically examine the internal financial control system of the Komenda Edina Eguafo Abrem Municipal Assembly. It made use of the staff of the Municipal Assembly as its respondents. The study found out that apart from a few challenges with the Assembly’s internal financial control system, it is doing very well in adhering to all internal financial control practices. Again, the study recognised that there is a direct association between financial performance and internal financial control practices. However, it came out that, the Assembly does not provide enough logistics for financial monitoring, being one of the important pillars of internal financial control system. Furthermore, it was discovered that there is a positive link between the presence of IFCS and the financial performance of the Assembly. More so, a good IFCS practices will help the Assembly to rake in more money to undertake its projects. In view of that, there were suggestions that adequate logistics must be provided for proper monitoring of the system to ensure good financial performance; the revenue unit of the Assembly must be decoupled from the financial unit for more effective and efficient work, among others.

Source: UCC
Internal quality assurance practices of nursing and midwifery training colleges and the role of regulatory bodies: The perspectives of health tutors

In the era of quality orientation, human rights, and a consumer-driven society, Nursing and Midwifery Education Institutions (NMEI) are expected to produce qualified graduates who will meet the needs and expectations of society. The aim of the study was to assess the internal quality assurance practices of Nursing and Midwifery Training Colleges (NMTCs) in the Northern Region of Ghana. An analytical cross-sectional design was adopted for the study with a sample size of eighty-eight (88). Purposive sampling method was used to select health tutors (participants) from three NMTCs in the Northern Region of Ghana. Data for the study were collected with a questionnaire and analysed. The study revealed that the NMTCs have quality assurance units/committees responsible for monitoring the quality of teaching and learning. In this study, only 39.8% of the health tutors were satisfied with the monitoring and inspection of training institutions by regulatory bodies. The results show a significant difference among the perspectives of the health tutors on the implementation of staff professional development (F(2, 87) = 4.74, p = .011), academic staffs motivation in the direction of refining the value of academic programs (F(2, 87) = 3.43, p = .037), working conditions of staffs (F(2, 87) = 3.32, p = .041) and the effectiveness of quality assurance systems in enhancing the quality of teaching and assessment (F(2, 87) = 3.27, p = .043). There is the need to ensure uniformity in staff professional development, working conditions, and motivation of health tutors in the training institutions. Regulatory bodies must intensify the monitoring of NMTCs and offer accreditation to new NMTCs based on the state of educational resources and facilities.

Source: UCC
Internally Generated Fund Mobilization Practices in Twifo Ati-morkwa Distict Assembly

ABSTRACT The study seeks to analyse internally generated fund mobilization practices for the Twifo Ati-Morkwa District Assembly by assessing the factors that impede revenue mobilization, the strategies adopted, and determine the impact of the Internally Generated Fund on the development projects. The census method was employed which was made up of the entire population made up of seventy-six employees. Questionnaires are used in collecting data from respondents. Data are analysed using descriptive analysis, and the results are presented in the form of figures and tables. The study reveals that; lack of logistics, inadequate revenue collectors, ineffective monitoring, inadequate motivation of revenue collectors and inadequate training for revenue collectors were some factors impeding revenue mobilisation. To increase revenue mobilization of the Assembly, the study discovers that there should be continuous education of the taxpaying public, prosecution of defaulters and training for revenue collectors. Lastly, it also reveals that though the internally generated fund of the Assembly contributes to the district‟s development, it is not enough to fund projects significantly. It was recommended that there should be a general fundraising training program where fundraisers can be trained in order to raise funds

Source: UCC
Internally generated revenues and their contributions to physical development : a case study of Ahanta West District Assembly

The concept of decentralisation as a developmental phenomenon comes with it, financial decentralisation and autonomy in which case the sub national institutions are enjoined to generate their own revenues for their developmental activities within their geographical areas. The study was to find out to what extent the Ahanta West District Assembly prosecutes its service delivery functions with its own internally generated revenues, and to examine the potentials and the challenges in the area of increased revenue mobilisation. The study used focus group discussions and interview schedules, applying both the probability and non-probability sampling techniques for a total of 250 respondents drawn from the six Area Councils of the District. In addition, 14 revenue collectors and 12 key informants were also administered with questionaires. The main findings are that the Assembly’s recurrent expenditure far exceeds its internally generated revenues and therefore leaves no surplus to support service delivery functions. The main conclusions are that the Assembly is not making enough savings from its revenues internally to complement central government grants thus making it overly dependent on central government for funds. This is due in part to increasing recurrent expenditure which whittles away any gains in the growth of internally generated revenues. It is recommended, inter alia, that conscious efforts are made by the Assembly to extend its revenue collections into areas that have been ignored in the past such as micro economic activities in very difficult communities.

Source: UCC
Internally generated revenues and their contributions to physical development: A case study of Ahanta West district assembly

The concept of decentralisation as a developmental phenomenon comes with it, financial decentralisation and autonomy in which case the sub-national institutions are enjoined to generate their own revenues for their developmental activities within their geographical areas. The study was to find out to what extent the Ahanta West District Assembly prosecutes its service delivery functions with its own internally generated revenues, and to examine the potentials and the challenges in the area of increased revenue mobilisation. The study used focus group discussions and interview schedules, applying both the probability and non-probability sampling techniques for a total of 250 respondents drawn from the six Area Councils of the District. In addition, 14 revenue collectors and 12 key informants were also administered with questionaires. The main findings are that the Assembly.s recurrent expenditure far exceeds its internally generated revenues and therefore leaves no surplus to support service delivery functions. The main conclusions are that the Assembly is not making enough savings from its revenues internally to complement central government grants thus making it overly dependent on central government for funds. This is due in part to increasing recurrent expenditure which whittles away any gains in the growth of internally generated revenues. It is recommended, inter alia, that conscious efforts are made by the Assembly to extend its revenue collections into areas that have been ignored in the past such as micro economic activities in very difficult communities.

Source: UCC
International commodity price shock and economic growth In Ghana

"The purpose of this study was to examine the effects of international commodity price shocks on economic growth in Ghana from 1990 to 2016. Time series data were collected on oil price, gold price, cocoa price, capital, labour, inflation, exchange rate and trade openness fromthe Central Bank of Ghana and the World Development Indicators. The study employed Autoregressive Distributed Lag (ARDL) to examine the relationship between the index of commodity price shock on economic growth in Ghana. The study found that there was a positive significant long-run and short-run relationship between the index of commodity price shock and economic growth in Ghana. The study recommendsthe need for value addition to the commodities that Ghana exports in its raw state by theconstructions ofmanufacturing companies to transform the raw materials into semi-finished and finished goods."

Source: UCC
International financial integration and bank stability in selected sub-saharan african countries: the moderating role of macroprudential regulation

This study analyses the effect of international financial integration on banking sector stability in sub-Saharan Africa (SSA) and the moderating role played by macro-prudential regulations. The study employed system Generalised Methods of Moments (GMM) estimation approach on 28 SSA countries over 20-year period spanning from 2000-2020. The study found that international financial integration affects the financial stability of banks in the SSA region. In addition, the study found a significant contributing role of macroprudential regulations in the international financial integration–bank stability nexus of banks within the SSA region. Hence, tighter macroprudential regulations within the SSA region would best compliment the traditional monetary policies in curbing the adverse effects of financial sector instabilities. This study therefore recommends that, policy makers should consider implementing macroprudential measures, such as capital controls, reserve requirements, and limits on liquid assets to deposit short term funds and bank regulatory capital requirements, to manage the impact of cross-border financial transactions and aggregate international capital inflows on bank stability. These measures would help prevent excessive risk-taking and limit the build-up of systemic risks. Also, policy makers should establish robust monitoring and supervisory frameworks to oversee cross-border financial transactions and aggregate international capital inflows. This includes ensuring that banks adhere to international standards and best practices for risk management, including adequate capital buffers, effective risk assessment and monitoring, and compliance with relevant regulations and reporting requirements.

Source: UCC
International Financial Reporting Standards (IFRS) Adoption, Corporate Governance Practices and Earnings Management: A Case of Listed Firms in Ghana

The International Financial Reporting Standards are recognized as standards with the potential to improve the quality of accounting information considering the fact that they are principled based standards and may, therefore, better reflect the companies’ financial situation. Accountants and financial economists have for long identified that corporate governance affects earnings management. This study seeks to examine the impact of IFRS and corporate governance on earnings management. Using a quantitative approach, a purposive sampling technique was used to select 22 companies listed on the Ghana Stock Exchange (GSE). Secondary data was collected from the annual reports of listed companies from 2005 to 2018. Data analysis was done using a Paired T-test and regression analysis considering both fixed and random effect. The study result revealed that prior to the adoption of IFRS, earnings management was on the rise. However, the introduction of IFRS reduced the earnings management of listed companies. Findings of the study also showed that board size, board composition and firm size strongly influence earnings management. The study therefore recommends that regulatory bodies should ensure strict adherence to the corporate governance standards set out in the country as well as IFRS. Also, the study recommends a stronger enforcement mechanism for the implementation of IFRS must be instituted by the regulatory bodies to ensure its positive impact on the quality of accounting information.

Source: UCC
International financial reporting standards for small and medium-sized enterprises adoption and the financial reporting quality of small and medium-sized enterprises in the Accra Metropolitan area

Small and medium-sized enterprises (SMEs) are regarded as the drivers of economic development across the world. Their reporting needs which were neglected for so long a time were finally given attention with the introduction of a simplified accounting standards (IFRS for SMEs). The introduction of this standalone accounting standards for SMEs was geared towards the objective of addressing SMEs financial reporting needs and improving the quality of their financial reporting. To this end, a quasi-experimental study was set up to examine whether the adoption of the IFRS for SMEs has improved the financial reporting quality of SMEs in Ghana. A six-year time series analysis was performed on twenty randomly selected SMEs resulting in 120 years of observation. Three years (2011, 2012 and 2013) represented the pre-adoption period while years 2014, 2015 and 2016 represented post adoption period. Using the current model for assessing financial reporting quality (decision usefulness model), total quality indexes were derived for each qualitative characteristic under study. The one-way analysis of variances (ANOVA) was employed separately for the hypotheses formulated for the study. The study concluded that, the decision usefulness of SMEs financial reporting has improved with regards to relevance, verifiability, understandability and comparability subsequent to the adoption of the IFRS for SMEs. The adoption of the standard however had no significant effect on the faithful representation quality of SMEs financial reporting. Policy makers should therefore promote the firm level adoption of the standard and put in place measures to increase the level of compliance of the standard so as to increase the quality of financial reporting of this important sector.

Source: UCC