GOVERNANCE, FINANCIAL CONTROL AND FINANCIAL IRREGULARITIES IN SENIOR HIGH SCHOOLS IN GHANA

ABSTRACT The Attorney General (AG)‘s report on pre-university educational institutions for the years 2010 to 2014 indicates that there is increase in financial irregularities in secondary schools in Ghana. Hence, this study sought to establish the relationship between governance, financial controls, and financial irregularity in Senior High Schools in Ghana. The study employed correlational survey design. The study population consisted of 93 Senior High/ Technical Schools in the Eastern Region of Ghana. A census of 93 schools was conducted to gather data for the analysis. In addition, secondary data from published AG‘s reports on pre-university eductional institutions for the years 2010 to 2013 was used as the dependent variable (financial irregularities). Correlation analysis, and ordinary least squares regression (OLS) analysis were employed as analysis techniques. The results showed that there was significant correlation between school governance (board size, r=.181; sex ratio on board, r=-.202; religiosity of board chair, rbi =-.153, existence of implementation committee, rbi =-.321 and experience of head teacher, r=-.131) and financial irregularities. Similarly, there were significant correlations between three aspects of financial control (use of accounting software, rbi =- .222; who is responsible for budget preparation, rbi=-.162 and stakeholders‘ involvement in budget preparation, rbi = -.292) and financial irregularities. The regression analysis showed that two aspects of school governance (gender of headmaster and board size) and financial controls (accounting software) accounted for 30.3% of cash irregularities. Also, the OLS regression model showed that only one aspect of school governance (board size) explained 25% of the variance in the overall financial irregularities. It is recommended among other things, that more matured and experienced ones should be appointed as heads of institutions