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Internal Controls and Performance of Selected Tertiary Institutions in Ekiti State: A Committee of Sponsoring Organisations (COSO) Framework Approach

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  • Gideon Tayo Akinleye
  • Adebola Daniel Kolawole

Abstract

This study examined the effect of internal controls on performance of selected tertiary institutions in Ekiti state using a committee of sponsoring organisations (COSO) framework approach. The study employed a survey research design. Primary data were obtained and analysed using multiple regression analysis. Findings from the study showed that the overall influence of COSO components of internal control on performance of selected tertiary institutions in Ekiti state was significantly positive. However, Control activities (CA) (t = 2.487, p = 0.013 0.05) and Risk assessment (RA) (t = 0.446, p = 0.656 > 0.05) had positive but insignificant effect on organisational performance of the selected tertiary institutions. The study concluded that internal control had a positive effect on performance and was statistically significant in explaining performance of selected tertiary institutions in Ekiti state. The study thus recommended that those charged with governance in tertiary institutions should strengthen the highlighted components of internal controls.

Suggested Citation

  • Gideon Tayo Akinleye & Adebola Daniel Kolawole, 2020. "Internal Controls and Performance of Selected Tertiary Institutions in Ekiti State: A Committee of Sponsoring Organisations (COSO) Framework Approach," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(1), pages 405-416, January.
    • Handle: RePEc:jfr:ijfr11:v:11:y:2020:i:1:p:405-416
    DOI: 10.5430/ijfr.v11n1p405
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    1. Alistair Bruce & Trevor Buck & Brian G. M. Main, 2005. "Top Executive Remuneration: A View from Europe," Journal of Management Studies, Wiley Blackwell, vol. 42(7), pages 1493-1506, November.
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    Cited by:

    1. Jinying Liu & Yiping Wu & Haiwei Xu, 2022. "RETRACTED ARTICLE: The relationship between internal control and sustainable development of enterprises by mediating roles of exploratory innovation and exploitative innovation," Operations Management Research, Springer, vol. 15(3), pages 913-924, December.
    2. Yemisi Oluwafunmilayo AYORINDE & Ayoola Abayomi AREMO, 2022. "Management Control System and Organisational Effectiveness of Deposit Money Banks in Nigeria," Noble International Journal of Business and Management Research, Noble Academic Publsiher, vol. 6(3), pages 34-39, September.

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