ABSTRACT
The purpose of this study is to examine the effect of internal control practices
on the performance of microfinance institutions in the Central Region of
Ghana. Primary data was gathered using questionnaires on internal controls
designed to meet the Committee of the Sponsoring Organizations of the
Treadway Commission 1992 report for microfinance institutions.The study
adopted a quantitative approach with a descriptive survey method. A primary
data were collected using self-administered questionnaires. The study revealed
that internal control systems of microfinance institutions are effective and
integrated into the daily operations of these microfinance institutions. Another
finding was that, microfinance institutions can only achieve their corporate
objectives if the internal control systems are effective. Poor internal control
systems are due to highcost involved in implementing it and small size of
organization to have an internal audit department to ensure effective internal
controls. The study recommended that there should be adequate segregation of
duties in the control activities, adequate managerial oversight and proper
policies and procedures for microfinance institutions to operate effectively to
achieve their objectives.
AGBIGBI, R (2021). EFFECT OF INTERNAL CONTROL SYSTEMS ON THE PERFORMANCE OF SELECTED MICROFINANCE INSTITUTIONS IN THE CENTRAL REGION. Afribary. Retrieved from https://afribary.com/works/effect-of-internal-control-systems-on-the-performance-of-selected-microfinance-institutions-in-the-central-region
AGBIGBI, RICHARD "EFFECT OF INTERNAL CONTROL SYSTEMS ON THE PERFORMANCE OF SELECTED MICROFINANCE INSTITUTIONS IN THE CENTRAL REGION" Afribary. Afribary, 02 Apr. 2021, https://afribary.com/works/effect-of-internal-control-systems-on-the-performance-of-selected-microfinance-institutions-in-the-central-region. Accessed 19 Apr. 2024.
AGBIGBI, RICHARD . "EFFECT OF INTERNAL CONTROL SYSTEMS ON THE PERFORMANCE OF SELECTED MICROFINANCE INSTITUTIONS IN THE CENTRAL REGION". Afribary, Afribary, 02 Apr. 2021. Web. 19 Apr. 2024. < https://afribary.com/works/effect-of-internal-control-systems-on-the-performance-of-selected-microfinance-institutions-in-the-central-region >.
AGBIGBI, RICHARD . "EFFECT OF INTERNAL CONTROL SYSTEMS ON THE PERFORMANCE OF SELECTED MICROFINANCE INSTITUTIONS IN THE CENTRAL REGION" Afribary (2021). Accessed April 19, 2024. https://afribary.com/works/effect-of-internal-control-systems-on-the-performance-of-selected-microfinance-institutions-in-the-central-region