Internal control systems and financial performance of mmdas. A case study of goaso municipal assembly

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The study sought to evaluate the internal control structures and financial performance of MMDAs. A case study of Goaso Municipal Assembly (GMA) in the Ahafo region of Ghana. The independent variable for the study was internal control systems and the dependent variable was financial performance. It adopted descriptive research design. The population consisted of all staff of GMA in Ghana. The study used primary data was collected using a structured questionnaire which was analyzed using descriptive and inferential statistics to analyze on SPSS version 22. Data obtained and analyzed was from 30 respondents of the target population. Twenty seven (27) of respondents who represents 90% answered the questionnaire as required while 3 respondents represented 10% did not answered the questionnaire as required. The model summary R-square value was 0.520 implying that the predictor variables selected for this study explains 52% of changes in the dependent variable. The study found that internal control system has a positive significant effect on financial performance of GMA in Ghana. Based on the risk assessment, the study concluded that, in an effort to manage its risks. The GMA has ensured risks are assessed in relation to changes in the operation environment. In addition, the study concluded that GMA has set forth a good working relationship between the staff. They are committed to their jobs, all employees have work schedules have no job conflicts. The study recommended that the management should always put in place mechanisms to enable it identify risks that affect achievement of the GMA’s financial objectives.
A thesis submitted to the department of accounting and finance, kwame nkrumah university of science and technology, kumasi in partial fulfilment of the requirements for the award degree of master of science accounting and finance